Tortoise Capital Advisors L.L.C. grew its stake in American Water Works Company, Inc. (NYSE:AWK) by 161.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 30,493 shares of the utilities provider’s stock after acquiring an additional 18,843 shares during the period. Tortoise Capital Advisors L.L.C.’s holdings in American Water Works were worth $4,572,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in AWK. Safeguard Investment Advisory Group LLC purchased a new stake in shares of American Water Works in the 4th quarter valued at approximately $34,000. CSat Investment Advisory L.P. increased its stake in American Water Works by 59.2% during the 1st quarter. CSat Investment Advisory L.P. now owns 234 shares of the utilities provider’s stock worth $35,000 after buying an additional 87 shares during the period. Tradition Wealth Management LLC purchased a new stake in American Water Works during the 1st quarter worth approximately $35,000. Mascoma Wealth Management LLC purchased a new stake in American Water Works during the 1st quarter worth approximately $45,000. Finally, Berman Capital Advisors LLC increased its stake in American Water Works by 90.2% during the 1st quarter. Berman Capital Advisors LLC now owns 312 shares of the utilities provider’s stock worth $45,000 after buying an additional 148 shares during the period. 81.44% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently weighed in on the stock. Argus reaffirmed a “hold” rating on shares of American Water Works in a research note on Tuesday, May 18th. Barclays upped their target price on shares of American Water Works from $170.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 15th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $170.00.
American Water Works (NYSE:AWK) last posted its quarterly earnings results on Sunday, May 2nd. The utilities provider reported $0.73 EPS for the quarter, hitting the consensus estimate of $0.73. American Water Works had a net margin of 18.79% and a return on equity of 11.09%. The company had revenue of $888.00 million during the quarter, compared to analysts’ expectations of $923.90 million. During the same quarter in the previous year, the business posted $0.67 EPS. The firm’s revenue was up 5.2% on a year-over-year basis. Analysts forecast that American Water Works Company, Inc. will post 4.25 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 1st. Stockholders of record on Tuesday, May 11th were issued a $0.6025 dividend. This is a boost from American Water Works’s previous quarterly dividend of $0.55. The ex-dividend date was Monday, May 10th. This represents a $2.41 annualized dividend and a dividend yield of 1.47%. American Water Works’s dividend payout ratio is presently 61.79%.
In other news, SVP Melanie M. Kennedy sold 661 shares of the company’s stock in a transaction on Thursday, May 20th. The shares were sold at an average price of $154.55, for a total value of $102,157.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.17% of the company’s stock.
American Water Works Company Profile
American Water Works Company, Inc, through its subsidiaries, provides water and wastewater services in the United States. It offers water and wastewater services to approximately 1,700 communities in 16 states serving approximately 3.5 million active customers. The company serves residential customers; commercial customers, such as food and beverage providers, commercial property developers and proprietors, and energy suppliers; fire service and private fire customers; industrial customers, such as large-scale manufacturers, mining, and production operations; public authorities comprising government buildings and other public sector facilities, such as schools and universities; and other utilities and community water and wastewater systems.
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