Lazard Asset Management LLC Raises Position in American Water Works Company, Inc. (NYSE:AWK)

Lazard Asset Management LLC grew its holdings in shares of American Water Works Company, Inc. (NYSE:AWKGet Rating) by 131.1% during the second quarter, HoldingsChannel reports. The firm owned 2,528 shares of the utilities provider’s stock after purchasing an additional 1,434 shares during the quarter. Lazard Asset Management LLC’s holdings in American Water Works were worth $375,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Heritage Financial Services LLC purchased a new position in shares of American Water Works during the 2nd quarter worth $25,000. Core Alternative Capital raised its position in shares of American Water Works by 259.0% in the 2nd quarter. Core Alternative Capital now owns 219 shares of the utilities provider’s stock worth $33,000 after buying an additional 158 shares during the period. CX Institutional purchased a new position in shares of American Water Works in the 2nd quarter worth $41,000. HBC Financial Services PLLC purchased a new position in shares of American Water Works in the 2nd quarter worth $46,000. Finally, Clear Street Markets LLC raised its position in shares of American Water Works by 387.2% in the 2nd quarter. Clear Street Markets LLC now owns 380 shares of the utilities provider’s stock worth $57,000 after buying an additional 302 shares during the period. Hedge funds and other institutional investors own 83.50% of the company’s stock.

American Water Works Stock Up 2.7 %

Shares of NYSE AWK opened at $146.71 on Friday. American Water Works Company, Inc. has a 12-month low of $122.77 and a 12-month high of $189.65. The company has a market cap of $26.68 billion, a P/E ratio of 20.24, a P/E/G ratio of 3.97 and a beta of 0.53. The company has a current ratio of 0.48, a quick ratio of 0.43 and a debt-to-equity ratio of 1.41. The stock has a fifty day moving average price of $139.22 and a 200 day moving average price of $146.01.

American Water Works (NYSE:AWKGet Rating) last announced its quarterly earnings results on Tuesday, November 1st. The utilities provider reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.12. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.07 billion. American Water Works had a return on equity of 10.99% and a net margin of 34.58%. The firm’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.53 EPS. Research analysts anticipate that American Water Works Company, Inc. will post 4.46 EPS for the current fiscal year.

American Water Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 8th will be paid a dividend of $0.655 per share. The ex-dividend date is Monday, November 7th. This represents a $2.62 annualized dividend and a dividend yield of 1.79%. American Water Works’s dividend payout ratio is presently 36.14%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AWK. Wells Fargo & Company increased their target price on American Water Works from $140.00 to $149.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 2nd. HSBC cut their target price on American Water Works to $158.00 in a research report on Tuesday, November 15th. UBS Group increased their target price on American Water Works to $151.00 in a research report on Friday, November 4th. StockNews.com initiated coverage on American Water Works in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, JPMorgan Chase & Co. upgraded American Water Works from an “underweight” rating to a “neutral” rating and increased their price target for the company from $162.00 to $165.00 in a report on Friday, September 9th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $153.00.

American Water Works Company Profile

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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.

Further Reading

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Institutional Ownership by Quarter for American Water Works (NYSE:AWK)

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