Prudential PLC boosted its position in American Water Works Company, Inc. (NYSE:AWK – Get Rating) by 27.9% in the 1st quarter, Holdings Channel reports. The firm owned 15,175 shares of the utilities provider’s stock after acquiring an additional 3,312 shares during the quarter. Prudential PLC’s holdings in American Water Works were worth $2,512,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. First PREMIER Bank acquired a new position in American Water Works in the 1st quarter valued at $25,000. Industrial Alliance Investment Management Inc. acquired a new position in American Water Works in the 4th quarter valued at $31,000. Quent Capital LLC acquired a new position in American Water Works in the 4th quarter valued at $32,000. Dixon Hughes Goodman Wealth Advisors LLC acquired a new position in American Water Works in the 1st quarter valued at $33,000. Finally, Compagnie Lombard Odier SCmA raised its stake in American Water Works by 107.7% in the 1st quarter. Compagnie Lombard Odier SCmA now owns 270 shares of the utilities provider’s stock valued at $44,000 after purchasing an additional 140 shares during the last quarter. 83.50% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
AWK has been the subject of several analyst reports. Wells Fargo & Company upped their target price on American Water Works from $139.00 to $152.00 and gave the company an “underweight” rating in a report on Monday, July 18th. HSBC dropped their target price on American Water Works to $172.00 in a report on Monday, August 15th. Northcoast Research initiated coverage on American Water Works in a report on Monday, July 18th. They issued a “neutral” rating for the company. Janney Montgomery Scott upgraded American Water Works from a “neutral” rating to a “buy” rating in a report on Friday, June 24th. Finally, Barclays dropped their target price on American Water Works from $172.00 to $157.00 and set an “equal weight” rating for the company in a report on Monday, July 18th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $166.57.
American Water Works Stock Performance
American Water Works (NYSE:AWK – Get Rating) last announced its earnings results on Wednesday, July 27th. The utilities provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.05. American Water Works had a return on equity of 11.06% and a net margin of 33.99%. The company had revenue of $937.00 million during the quarter, compared to analysts’ expectations of $979.52 million. During the same period last year, the business posted $1.14 EPS. American Water Works’s revenue for the quarter was down 6.2% on a year-over-year basis. As a group, sell-side analysts forecast that American Water Works Company, Inc. will post 4.45 earnings per share for the current year.
American Water Works Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Tuesday, August 9th were issued a dividend of $0.655 per share. This represents a $2.62 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date was Monday, August 8th. American Water Works’s dividend payout ratio (DPR) is 36.64%.
American Water Works 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 14 states serving approximately 3.4 million active customers. The company serves residential customers; commercial customers, including 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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