Polaris Greystone Financial Group LLC increased its stake in shares of American Water Works (NYSE:AWK) by 26.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,094 shares of the utilities provider’s stock after buying an additional 4,982 shares during the period. Polaris Greystone Financial Group LLC’s holdings in American Water Works were worth $1,949,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Cornerstone Advisors Inc. lifted its position in American Water Works by 349.5% during the 2nd 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 in the last quarter. Pinebridge Investments L.P. acquired a new position in American Water Works during the 2nd quarter worth about $118,000. Peddock Capital Advisors LLC acquired a new position in American Water Works during the 2nd quarter worth about $131,000. Aviance Capital Management LLC acquired a new position in American Water Works during the 2nd quarter worth about $147,000. Finally, Almanack Investment Partners LLC. acquired a new position in American Water Works during the 2nd quarter worth about $154,000. Institutional investors and hedge funds own 79.82% of the company’s stock.
Shares of American Water Works (NYSE AWK) traded up $0.05 during mid-day trading on Monday, hitting $88.81. The stock had a trading volume of 56,966 shares, compared to its average volume of 922,224. The company has a current ratio of 0.49, a quick ratio of 0.47 and a debt-to-equity ratio of 1.21. The company has a market capitalization of $15,832.60, a P/E ratio of 30.61, a PEG ratio of 3.89 and a beta of 0.25.
American Water Works (NYSE:AWK) last announced its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $1.08 EPS for the quarter, meeting analysts’ consensus estimates of $1.08. The company had revenue of $936.00 million during the quarter, compared to analysts’ expectations of $992.58 million. American Water Works had a return on equity of 9.69% and a net margin of 15.82%. American Water Works’s revenue was up .6% on a year-over-year basis. During the same period in the prior year, the business posted $1.05 EPS. analysts forecast that American Water Works will post 3.01 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 10th will be paid a $0.415 dividend. The ex-dividend date is Thursday, November 9th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 1.87%. American Water Works’s dividend payout ratio (DPR) is presently 56.27%.
Several brokerages have weighed in on AWK. Boenning Scattergood reissued a “hold” rating on shares of American Water Works in a report on Thursday. Janney Montgomery Scott cut American Water Works from a “buy” rating to a “neutral” rating in a report on Friday. They noted that the move was a valuation call. Robert W. Baird boosted their price objective on American Water Works from $82.00 to $87.00 and gave the stock a “neutral” rating in a report on Friday. BidaskClub cut American Water Works from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Finally, Bank of America Corporation began coverage on American Water Works in a report on Tuesday, October 24th. They set a “buy” rating and a $95.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $85.63.
In other news, COO Walter Lynch sold 3,335 shares of the company’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $82.05, for a total value of $273,636.75. Following the completion of the sale, the chief operating officer now directly owns 94,702 shares of the company’s stock, valued at approximately $7,770,299.10. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.34% of the company’s stock.
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American Water Works 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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