State Treasurer State of Michigan Maintains Stake in American Water Works (AWK)

State Treasurer State of Michigan held its stake in American Water Works (NYSE:AWK) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58,528 shares of the utilities provider’s stock at the end of the second quarter. State Treasurer State of Michigan’s holdings in American Water Works were worth $4,562,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of AWK. BlackRock Inc. increased its stake in shares of American Water Works by 1,423.2% in the first quarter. BlackRock Inc. now owns 14,519,771 shares of the utilities provider’s stock worth $1,129,202,000 after buying an additional 13,566,529 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of American Water Works by 3.9% in the first quarter. Vanguard Group Inc. now owns 17,720,019 shares of the utilities provider’s stock worth $1,378,085,000 after buying an additional 657,026 shares during the last quarter. Cambiar Investors LLC acquired a new stake in shares of American Water Works during the first quarter worth $41,992,000. JPMorgan Chase & Co. increased its stake in shares of American Water Works by 93.7% in the first quarter. JPMorgan Chase & Co. now owns 861,315 shares of the utilities provider’s stock worth $66,985,000 after buying an additional 416,651 shares during the last quarter. Finally, Karp Capital Management Corp acquired a new stake in shares of American Water Works during the first quarter worth $28,092,000. Institutional investors and hedge funds own 80.72% of the company’s stock.

Shares of American Water Works (AWK) traded up 0.14% during trading on Friday, reaching $81.44. 730,332 shares of the company traded hands. The stock has a market capitalization of $14.52 billion, a P/E ratio of 30.74 and a beta of 0.25. American Water Works has a 12-month low of $69.41 and a 12-month high of $82.89. The firm’s 50 day moving average is $80.19 and its 200-day moving average is $78.00.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Wednesday, August 9th will be issued a $0.415 dividend. This represents a $1.66 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date is Monday, August 7th. American Water Works’s dividend payout ratio (DPR) is presently 62.64%.

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A number of brokerages have weighed in on AWK. BidaskClub downgraded American Water Works from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Vetr downgraded American Water Works from a “buy” rating to a “hold” rating and set a $84.04 price target for the company. in a report on Wednesday, June 14th. Zacks Investment Research downgraded American Water Works from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Robert W. Baird downgraded American Water Works from an “outperform” rating to a “neutral” rating and raised their target price for the company from $69.41 to $82.00 in a research note on Wednesday, April 26th. Finally, Northcoast Research assumed coverage on American Water Works in a research note on Thursday, May 25th. They issued a “neutral” rating for the company. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $82.63.

About American Water Works

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)

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