American Water Works (NYSE:AWK) Cut to Hold at ValuEngine

ValuEngine downgraded shares of American Water Works (NYSE:AWK) from a buy rating to a hold rating in a report released on Wednesday, ValuEngine reports.

Other analysts have also issued reports about the company. Robert W. Baird raised their price objective on American Water Works from $117.00 to $128.00 and gave the company an outperform rating in a research note on Wednesday. Bank of America lowered American Water Works from a neutral rating to an underperform rating and set a $116.00 price objective on the stock. in a research note on Monday, July 15th. They noted that the move was a valuation call. Finally, Wells Fargo & Co lifted 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, August 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $123.20.

NYSE:AWK traded up $2.05 during trading hours on Wednesday, hitting $125.78. The company’s stock had a trading volume of 814,192 shares, compared to its average volume of 991,509. The stock has a fifty day simple moving average of $124.19 and a 200-day simple moving average of $115.05. The company has a market capitalization of $22.72 billion, a P/E ratio of 38.12, a PEG ratio of 4.26 and a beta of 0.09. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.56 and a quick ratio of 0.53. American Water Works has a twelve month low of $85.89 and a twelve month high of $129.89.

American Water Works (NYSE:AWK) last released its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.94 earnings per share for the quarter, meeting the consensus estimate of $0.94. The business had revenue of $882.00 million for the quarter, compared to analyst estimates of $907.56 million. American Water Works had a return on equity of 10.51% and a net margin of 16.53%. American Water Works’s revenue was up 3.4% compared to the same quarter last year. During the same period last year, the firm posted $0.83 earnings per share. On average, equities analysts predict that American Water Works will post 3.6 EPS for the current fiscal year.

In other news, Director George Mackenzie sold 10,000 shares of American Water Works stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $129.18, for a total transaction of $1,291,800.00. Following the sale, the director now directly owns 25,338 shares of the company’s stock, valued at $3,273,162.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Walter Lynch sold 6,908 shares of American Water Works stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $126.91, for a total value of $876,694.28. Following the sale, the chief operating officer now directly owns 113,574 shares in the company, valued at $14,413,676.34. The disclosure for this sale can be found here. Insiders have sold 20,931 shares of company stock worth $2,639,065 over the last three months. Insiders own 0.36% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. ETF Managers Group LLC raised its position in shares of American Water Works by 4.8% during the second quarter. ETF Managers Group LLC now owns 1,846 shares of the utilities provider’s stock worth $213,000 after acquiring an additional 85 shares during the last quarter. Tortoise Index Solutions LLC raised its position in shares of American Water Works by 3.1% during the first quarter. Tortoise Index Solutions LLC now owns 3,193 shares of the utilities provider’s stock worth $333,000 after acquiring an additional 96 shares during the last quarter. Kings Point Capital Management raised its position in shares of American Water Works by 17.6% during the second quarter. Kings Point Capital Management now owns 643 shares of the utilities provider’s stock worth $75,000 after acquiring an additional 96 shares during the last quarter. JNBA Financial Advisors raised its position in shares of American Water Works by 28.6% during the second quarter. JNBA Financial Advisors now owns 450 shares of the utilities provider’s stock worth $52,000 after acquiring an additional 100 shares during the last quarter. Finally, Pinnacle Associates Ltd. raised its position in shares of American Water Works by 3.9% during the second quarter. Pinnacle Associates Ltd. now owns 2,655 shares of the utilities provider’s stock worth $308,000 after acquiring an additional 100 shares during the last quarter. 85.03% of the stock is currently owned by hedge funds and other institutional investors.

About American Water Works

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.

Further Reading: Backdoor Roth IRA Conversion and Strategy

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for American Water Works (NYSE:AWK)

Receive News & Ratings for American Water Works Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Water Works and related companies with MarketBeat.com's FREE daily email newsletter.