Lord Abbett & CO. LLC Trims Stake in American Water Works Company Inc (AWK)

Lord Abbett & CO. LLC trimmed its holdings in American Water Works Company Inc (NYSE:AWK) by 27.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 562,599 shares of the utilities provider’s stock after selling 210,536 shares during the quarter. Lord Abbett & CO. LLC owned 0.32% of American Water Works worth $46,206,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of AWK. Victory Capital Management Inc. boosted its position in shares of American Water Works by 11.3% in the fourth quarter. Victory Capital Management Inc. now owns 40,707 shares of the utilities provider’s stock valued at $3,724,000 after acquiring an additional 4,149 shares during the period. Teacher Retirement System of Texas boosted its position in shares of American Water Works by 148.7% in the fourth quarter. Teacher Retirement System of Texas now owns 77,358 shares of the utilities provider’s stock valued at $7,077,000 after acquiring an additional 46,248 shares during the period. M&T Bank Corp boosted its position in shares of American Water Works by 6.5% in the fourth quarter. M&T Bank Corp now owns 20,994 shares of the utilities provider’s stock valued at $1,921,000 after acquiring an additional 1,285 shares during the period. California Public Employees Retirement System boosted its position in shares of American Water Works by 7.4% in the fourth quarter. California Public Employees Retirement System now owns 592,943 shares of the utilities provider’s stock valued at $54,248,000 after acquiring an additional 40,999 shares during the period. Finally, Swiss National Bank boosted its position in shares of American Water Works by 0.3% in the fourth quarter. Swiss National Bank now owns 710,922 shares of the utilities provider’s stock valued at $65,042,000 after acquiring an additional 2,100 shares during the period. 84.03% of the stock is owned by institutional investors.

Shares of American Water Works opened at $78.93 on Thursday, MarketBeat reports. The firm has a market capitalization of $13.95 billion, a P/E ratio of 26.05, a PEG ratio of 3.08 and a beta of 0.15. American Water Works Company Inc has a one year low of $76.04 and a one year high of $92.37. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.29 and a quick ratio of 0.27.

American Water Works (NYSE:AWK) last issued its earnings results on Wednesday, May 2nd. The utilities provider reported $0.59 EPS for the quarter, topping the consensus estimate of $0.55 by $0.04. The firm had revenue of $761.00 million during the quarter, compared to analysts’ expectations of $726.74 million. American Water Works had a return on equity of 10.20% and a net margin of 13.06%. American Water Works’s quarterly revenue was up .7% compared to the same quarter last year. During the same period last year, the business earned $0.52 earnings per share. sell-side analysts predict that American Water Works Company Inc will post 3.27 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 1st. Investors of record on Friday, May 11th were given a $0.455 dividend. This is a boost from American Water Works’s previous quarterly dividend of $0.42. This represents a $1.82 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend was Thursday, May 10th. American Water Works’s dividend payout ratio (DPR) is 60.07%.

In related news, SVP Loyd A. Warnock sold 2,870 shares of the firm’s stock in a transaction on Thursday, May 24th. The stock was sold at an average price of $81.45, for a total value of $233,761.50. Following the completion of the transaction, the senior vice president now directly owns 14,410 shares of the company’s stock, valued at $1,173,694.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Michael A. Sgro sold 16,026 shares of the firm’s stock in a transaction on Wednesday, May 16th. The stock was sold at an average price of $80.54, for a total value of $1,290,734.04. The disclosure for this sale can be found here. 0.35% of the stock is owned by company insiders.

Several equities research analysts have recently weighed in on AWK shares. Bank of America set a $84.00 price objective on American Water Works and gave the company a “hold” rating in a research report on Thursday, February 22nd. Robert W. Baird reissued a “neutral” rating and issued a $88.00 price objective (down from $91.00) on shares of American Water Works in a research report on Thursday, February 22nd. Guggenheim reissued a “hold” rating and issued a $82.00 price objective on shares of American Water Works in a research report on Friday, February 23rd. Wells Fargo & Co raised American Water Works from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $80.63 to $88.00 in a research report on Monday, February 26th. Finally, UBS Group started coverage on American Water Works in a research report on Thursday, March 8th. They issued a “buy” rating and a $89.00 price objective for the company. They noted that the move was a valuation call. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $88.22.

American Water Works Profile

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. The company operates approximately 72 surface water treatment plants; 527 groundwater treatment plants; 8 combined treatment plants; 127 wastewater treatment plants; 50,382 miles of transmission, distribution, and collection mains and pipes; 1,103 groundwater wells; 1,428 water and wastewater pumping stations; 1,313 treated water storage facilities; and 80 dams.

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

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