State Treasurer State of Michigan grew its stake in shares of American Water Works Company Inc (NYSE:AWK) by 0.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,128 shares of the utilities provider’s stock after acquiring an additional 400 shares during the period. State Treasurer State of Michigan’s holdings in American Water Works were worth $5,435,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of AWK. Larson Financial Group LLC bought a new stake in American Water Works in the fourth quarter worth $28,000. Financial Gravity Companies Inc. bought a new stake in American Water Works in the fourth quarter worth $32,000. Capital Financial Planning LLC bought a new stake in American Water Works in the fourth quarter worth $31,000. Ruggie Capital Group bought a new stake in American Water Works in the fourth quarter worth $31,000. Finally, JNBA Financial Advisors bought a new stake in American Water Works during the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 85.47% of the company’s stock.
A number of equities research analysts have issued reports on AWK shares. Janney Montgomery Scott restated a “buy” rating and set a $102.00 price target on shares of American Water Works in a report on Thursday, February 21st. Wells Fargo & Co restated a “buy” rating on shares of American Water Works in a report on Wednesday, February 20th. Zacks Investment Research upgraded shares of American Water Works from a “hold” rating to a “buy” rating and set a $123.00 price target for the company in a report on Thursday. Boenning Scattergood restated a “hold” rating on shares of American Water Works in a report on Thursday, May 2nd. Finally, Bank of America upped their price target on shares of American Water Works from $92.00 to $103.00 and gave the company a “neutral” rating in a report on Thursday, February 21st. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. American Water Works presently has an average rating of “Buy” and an average price target of $109.67.
American Water Works (NYSE:AWK) last released its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.02). American Water Works had a net margin of 16.44% and a return on equity of 10.25%. The firm had revenue of $813.00 million for the quarter, compared to the consensus estimate of $792.73 million. During the same quarter last year, the company earned $0.59 earnings per share. The firm’s revenue was up 6.8% on a year-over-year basis. Equities analysts expect that American Water Works Company Inc will post 3.6 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Monday, May 13th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, May 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.79%. This is a positive change from American Water Works’s previous quarterly dividend of $0.46. American Water Works’s dividend payout ratio is currently 60.61%.
In other news, SVP Loyd A. Warnock sold 9,502 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $111.04, for a total transaction of $1,055,102.08. Following the completion of the transaction, the senior vice president now owns 18,314 shares of the company’s stock, valued at $2,033,586.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.36% of the stock is currently owned by corporate insiders.
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.
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