Blue Sky Asset Management LLC bought a new position in shares of American Water Works Company Inc (NYSE:AWK) during the first quarter, HoldingsChannel reports. The institutional investor bought 1,014 shares of the utilities provider’s stock, valued at approximately $106,000.
Other large investors have also modified their holdings of the company. Larson Financial Group LLC acquired a new stake in shares of American Water Works in the 4th quarter worth about $28,000. Financial Gravity Companies Inc. acquired a new stake in shares of American Water Works in the 4th quarter worth about $32,000. Capital Financial Planning LLC acquired a new stake in shares of American Water Works in the 4th quarter worth about $31,000. Ruggie Capital Group acquired a new stake in shares of American Water Works in the 4th quarter worth about $31,000. Finally, JNBA Financial Advisors acquired a new stake in shares of American Water Works in the 4th quarter worth about $32,000. 85.49% of the stock is currently owned by institutional investors.
A number of research firms recently weighed in on AWK. Zacks Investment Research cut shares of American Water Works from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Janney Montgomery Scott reaffirmed a “buy” rating and issued a $121.00 price objective (up previously from $102.00) on shares of American Water Works in a report on Thursday, May 2nd. Boenning Scattergood reaffirmed a “hold” rating on shares of American Water Works in a report on Thursday, May 2nd. Bank of America increased their price objective on shares of American Water Works from $92.00 to $103.00 and gave the stock a “neutral” rating in a report on Thursday, February 21st. Finally, Wells Fargo & Co increased their price objective on shares of American Water Works from $101.00 to $109.00 and gave the stock an “outperform” rating in a report on Thursday, February 21st. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $106.50.
American Water Works (NYSE:AWK) last announced its earnings results on Wednesday, May 1st. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.02). The company had revenue of $813.00 million during the quarter, compared to the consensus estimate of $792.73 million. American Water Works had a net margin of 16.44% and a return on equity of 10.25%. The business’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.59 EPS. Equities research analysts expect that American Water Works Company Inc will post 3.6 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Monday, May 13th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date is Friday, May 10th. This is a positive change from American Water Works’s previous quarterly dividend of $0.46. American Water Works’s dividend payout ratio is currently 55.15%.
American Water Works Company Profile
American Water Works Company, Inc, through its subsidiaries, provides water and wastewater services in the United States and Canada. It offers water and wastewater services to approximately 1,600 communities in 16 states serving approximately 3.4 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; and other utilities and community water and wastewater systems.
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