Invesco Ltd. lessened its holdings in American Water Works Company, Inc. (NYSE:AWK – Get Rating) by 11.7% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,636,127 shares of the utilities provider’s stock after selling 348,304 shares during the period. Invesco Ltd.’s holdings in American Water Works were worth $436,357,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of American Water Works by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 21,960,717 shares of the utilities provider’s stock worth $3,635,157,000 after buying an additional 434,737 shares during the last quarter. BlackRock Inc. increased its position in American Water Works by 5.9% in the fourth quarter. BlackRock Inc. now owns 16,192,763 shares of the utilities provider’s stock worth $3,058,165,000 after buying an additional 906,203 shares during the last quarter. State Street Corp raised its stake in shares of American Water Works by 1.5% in the fourth quarter. State Street Corp now owns 9,744,829 shares of the utilities provider’s stock valued at $1,840,408,000 after buying an additional 143,817 shares during the period. Impax Asset Management Group plc lifted its position in shares of American Water Works by 4.5% during the 4th quarter. Impax Asset Management Group plc now owns 5,829,469 shares of the utilities provider’s stock valued at $1,100,953,000 after buying an additional 252,689 shares during the last quarter. Finally, Deutsche Bank AG grew its stake in shares of American Water Works by 3.9% during the 4th quarter. Deutsche Bank AG now owns 4,273,889 shares of the utilities provider’s stock worth $807,166,000 after acquiring an additional 160,593 shares during the period. Hedge funds and other institutional investors own 83.50% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts recently weighed in on the company. Barclays decreased their price objective 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. Northcoast Research assumed coverage on American Water Works in a report on Monday, July 18th. They issued a “neutral” rating for the company. Janney Montgomery Scott raised American Water Works from a “neutral” rating to a “buy” rating in a report on Friday, June 24th. Wells Fargo & Company lifted their price objective on American Water Works from $139.00 to $152.00 and gave the stock an “underweight” rating in a report on Monday, July 18th. Finally, UBS Group lifted their price objective on American Water Works from $149.00 to $159.00 and gave the stock a “neutral” rating in a report on Tuesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $165.71.
American Water Works Stock Up 0.2 %
American Water Works (NYSE:AWK – Get Rating) last issued its earnings results on Wednesday, July 27th. The utilities provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.15 by $0.05. The business had revenue of $937.00 million during the quarter, compared to the consensus estimate of $979.52 million. American Water Works had a return on equity of 11.06% and a net margin of 33.99%. The firm’s revenue was down 6.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.14 EPS. Research analysts anticipate that American Water Works Company, Inc. will post 4.45 earnings per share for the current fiscal year.
American Water Works Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Tuesday, August 9th were given a dividend of $0.655 per share. The ex-dividend date of this dividend was Monday, August 8th. This represents a $2.62 dividend on an annualized basis and a dividend yield of 1.69%. American Water Works’s dividend payout ratio (DPR) is presently 36.64%.
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 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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