Janus Henderson Group PLC lowered its position in shares of American Water Works Company Inc (NYSE:AWK) by 12.3% in the second quarter, Holdings Channel.com reports. The fund owned 1,741,693 shares of the utilities provider’s stock after selling 243,524 shares during the quarter. Janus Henderson Group PLC’s holdings in American Water Works were worth $202,036,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in AWK. Weaver Consulting Group purchased a new position in shares of American Water Works during the first quarter worth $76,000. DNB Asset Management AS boosted its holdings in American Water Works by 56.0% in the second quarter. DNB Asset Management AS now owns 41,679 shares of the utilities provider’s stock valued at $4,835,000 after purchasing an additional 14,963 shares during the period. Patten & Patten Inc. TN raised its stake in American Water Works by 11.0% in the second quarter. Patten & Patten Inc. TN now owns 20,980 shares of the utilities provider’s stock valued at $2,434,000 after buying an additional 2,075 shares in the last quarter. Quantamental Technologies LLC acquired a new stake in American Water Works in the first quarter valued at $483,000. Finally, Weiss Asset Management LP acquired a new stake in American Water Works in the first quarter valued at $209,000. 84.23% of the stock is owned by institutional investors and hedge funds.
AWK has been the topic of a number of analyst reports. Boenning Scattergood restated a “hold” rating on shares of American Water Works in a research note on Thursday, May 2nd. Janney Montgomery Scott restated a “buy” rating and issued a $121.00 price target (up from $102.00) on shares of American Water Works in a research note on Thursday, May 2nd. Zacks Investment Research upgraded American Water Works from a “hold” rating to a “buy” rating and set a $123.00 price target on the stock in a research note on Thursday, May 16th. Wells Fargo & Co raised their price target on American Water Works from $122.00 to $128.00 and gave the company a “market perform” rating in a research note on Wednesday. Finally, Bank of America cut American Water Works from a “neutral” rating to an “underperform” rating and set a $116.00 price target on the stock. in a research note on Monday, July 15th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. American Water Works presently has an average rating of “Buy” and an average target price of $114.67.
American Water Works (NYSE:AWK) last released its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.94 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.94. American Water Works had a return on equity of 10.51% and a net margin of 16.53%. The firm had revenue of $882.00 million for the quarter, compared to analyst estimates of $907.56 million. During the same quarter last year, the company posted $0.83 earnings per share. The business’s revenue was up 3.4% on a year-over-year basis. As a group, equities research analysts predict that American Water Works Company Inc will post 3.6 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Friday, August 9th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Thursday, August 8th. American Water Works’s dividend payout ratio is presently 60.61%.
In other news, COO Walter Lynch sold 3,372 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $112.90, for a total transaction of $380,698.80. Following the sale, the chief operating officer now owns 106,666 shares of the company’s stock, valued at approximately $12,042,591.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Loyd A. Warnock sold 4,023 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $116.97, for a total value of $470,570.31. Following the sale, the senior vice president now directly owns 11,895 shares in the company, valued at approximately $1,391,358.15. The disclosure for this sale can be found here. Insiders sold a total of 61,077 shares of company stock worth $6,893,103 in the last ninety days. 0.36% of the stock is owned by corporate insiders.
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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