Pictet Asset Management Ltd. trimmed its holdings in shares of American Water Works (NYSE:AWK) by 1.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,930,823 shares of the utilities provider’s stock after selling 74,112 shares during the quarter. American Water Works accounts for about 0.9% of Pictet Asset Management Ltd.’s holdings, making the stock its 8th largest position. Pictet Asset Management Ltd. owned about 2.20% of American Water Works worth $318,043,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Cornerstone Advisors Inc. increased its position in American Water Works by 349.5% in the second quarter. Cornerstone Advisors Inc. now owns 1,344 shares of the utilities provider’s stock worth $105,000 after buying an additional 1,045 shares during the last quarter. Pinebridge Investments L.P. purchased a new stake in American Water Works in the second quarter worth $118,000. Peddock Capital Advisors LLC purchased a new stake in American Water Works in the second quarter worth $131,000. Aviance Capital Management LLC purchased a new stake in American Water Works in the second quarter worth $147,000. Finally, Almanack Investment Partners LLC. purchased a new stake in American Water Works in the second quarter worth $154,000. 79.82% of the stock is owned by institutional investors.
In other news, COO Walter Lynch sold 15,169 shares of the company’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $82.00, for a total value of $1,243,858.00. Following the completion of the sale, the chief operating officer now directly owns 111,171 shares in the company, valued at approximately $9,116,022. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.34% of the company’s stock.
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AWK has been the subject of a number of recent research reports. Zacks Investment Research raised American Water Works from a “sell” rating to a “hold” rating in a research report on Tuesday, October 10th. BidaskClub raised American Water Works from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Wells Fargo & Company set a $89.00 target price on American Water Works and gave the stock a “hold” rating in a research report on Thursday, October 19th. Boenning Scattergood reissued a “hold” rating on shares of American Water Works in a research report on Friday, September 22nd. Finally, Bank of America Corporation initiated coverage on American Water Works in a research report on Tuesday, October 24th. They issued a “buy” rating and a $95.00 target price for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $85.01.
Shares of American Water Works (NYSE AWK) traded down 0.1260% during trading on Monday, hitting $87.5595. The stock had a trading volume of 72,585 shares. American Water Works has a 1-year low of $69.41 and a 1-year high of $88.20. The stock’s 50-day moving average price is $83.73 and its 200 day moving average price is $80.62. The firm has a market capitalization of $15.61 billion, a P/E ratio of 33.0538 and a beta of 0.25.
American Water Works (NYSE:AWK) last posted its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.73 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.07). The company had revenue of $844.00 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%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the company earned $0.77 earnings per share. On average, analysts anticipate that American Water Works will post $3.01 earnings per share for the current year.
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.
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