Global X Management Co. LLC Reduces Stake in American Water Works (AWK)

Global X Management Co. LLC cut its position in American Water Works (NYSE:AWK) by 24.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,774 shares of the utilities provider’s stock after selling 2,248 shares during the period. Global X Management Co. LLC’s holdings in American Water Works were worth $528,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Canada Pension Plan Investment Board increased its position in American Water Works by 38.2% in the first quarter. Canada Pension Plan Investment Board now owns 242,110 shares of the utilities provider’s stock worth $18,829,000 after buying an additional 66,954 shares in the last quarter. Mason Street Advisors LLC increased its position in American Water Works by 1.1% in the first quarter. Mason Street Advisors LLC now owns 24,628 shares of the utilities provider’s stock worth $1,915,000 after buying an additional 278 shares in the last quarter. British Columbia Investment Management Corp increased its position in American Water Works by 13.6% in the first quarter. British Columbia Investment Management Corp now owns 227,282 shares of the utilities provider’s stock worth $17,676,000 after buying an additional 27,222 shares in the last quarter. Bank of Nova Scotia increased its position in American Water Works by 943.7% in the first quarter. Bank of Nova Scotia now owns 40,810 shares of the utilities provider’s stock worth $3,173,000 after buying an additional 36,900 shares in the last quarter. Finally, Davis R M Inc. increased its position in American Water Works by 28.5% in the first quarter. Davis R M Inc. now owns 302,090 shares of the utilities provider’s stock worth $23,494,000 after buying an additional 66,944 shares in the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

American Water Works (NYSE AWK) opened at 81.33 on Friday. The firm has a market cap of $14.50 billion, a P/E ratio of 30.70 and a beta of 0.25. The stock’s 50 day moving average is $80.10 and its 200 day moving average is $77.93. American Water Works has a one year low of $69.41 and a one year high of $82.89.

American Water Works (NYSE:AWK) last released its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by $0.07. American Water Works had a return on equity of 9.70% and a net margin of 14.20%. The company had revenue of $844 million for the quarter, compared to analyst estimates of $869.52 million. During the same quarter in the prior year, the company earned $0.77 earnings per share. The business’s revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts expect that American Water Works will post $3.01 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Wednesday, August 9th will be paid a dividend of $0.415 per share. The ex-dividend date of this dividend is Monday, August 7th. This represents a $1.66 annualized dividend and a yield of 2.04%. American Water Works’s dividend payout ratio is currently 62.64%.

COPYRIGHT VIOLATION NOTICE: “Global X Management Co. LLC Reduces Stake in American Water Works (AWK)” was published by Community Financial News and is the property of of Community Financial News. If you are accessing this story on another website, it was illegally stolen and republished in violation of US & international copyright and trademark law. The correct version of this story can be read at https://www.com-unik.info/2017/08/18/global-x-management-co-llc-reduces-stake-in-american-water-works-awk.html.

A number of equities analysts have commented on AWK shares. Robert W. Baird downgraded shares of American Water Works from an “outperform” rating to a “neutral” rating and lifted their price objective for the stock from $69.41 to $82.00 in a report on Wednesday, April 26th. Northcoast Research started coverage on shares of American Water Works in a report on Thursday, May 25th. They issued a “neutral” rating for the company. BidaskClub raised shares of American Water Works from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Zacks Investment Research raised shares of American Water Works from a “hold” rating to a “buy” rating and set a $87.00 price objective for the company in a report on Tuesday, July 11th. Finally, Vetr raised shares of American Water Works from a “hold” rating to a “buy” rating and set a $82.36 price objective for the company in a report on Monday, May 1st. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $82.63.

American Water Works Company Profile

American Water Works Company, Inc is a holding company for regulated and market-based subsidiaries throughout the United States and Ontario, Canada. The Company’s Regulated Businesses segment provides water and wastewater services as public utilities in 16 states in the United States as of December 31, 2016.

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

What are top analysts saying about American Water Works? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for American Water Works and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit