Sumitomo Mitsui DS Asset Management Company Ltd Reduces Stock Holdings in American Water Works Company Inc (NYSE:AWK)

Sumitomo Mitsui DS Asset Management Company Ltd decreased its holdings in American Water Works Company Inc (NYSE:AWK) by 10.3% in the third quarter, HoldingsChannel.com reports. The fund owned 130,208 shares of the utilities provider’s stock after selling 14,964 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in American Water Works were worth $16,175,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in AWK. Vanguard Group Inc. lifted its position in American Water Works by 0.8% during the second quarter. Vanguard Group Inc. now owns 21,855,515 shares of the utilities provider’s stock valued at $2,535,240,000 after buying an additional 174,708 shares during the period. BlackRock Inc. lifted its position in American Water Works by 5.7% during the second quarter. BlackRock Inc. now owns 15,396,801 shares of the utilities provider’s stock valued at $1,786,029,000 after buying an additional 827,507 shares during the period. Price T Rowe Associates Inc. MD lifted its position in American Water Works by 17.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 8,771,839 shares of the utilities provider’s stock valued at $1,017,533,000 after buying an additional 1,293,688 shares during the period. Wells Fargo & Company MN lifted its position in American Water Works by 0.3% during the second quarter. Wells Fargo & Company MN now owns 3,759,373 shares of the utilities provider’s stock valued at $436,087,000 after buying an additional 12,421 shares during the period. Finally, Royal Bank of Canada lifted its position in American Water Works by 0.9% during the second quarter. Royal Bank of Canada now owns 3,679,171 shares of the utilities provider’s stock valued at $426,783,000 after buying an additional 34,209 shares during the period. 85.10% of the stock is owned by institutional investors.

In other news, SVP Loyd A. Warnock sold 4,023 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $116.97, for a total transaction of $470,570.31. Following the completion of the transaction, the senior vice president now directly owns 11,895 shares in the company, valued at $1,391,358.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Walter Lynch sold 6,908 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $126.91, for a total value of $876,694.28. Following the transaction, the chief operating officer now owns 113,574 shares of the company’s stock, valued at $14,413,676.34. The disclosure for this sale can be found here. Insiders have sold 20,931 shares of company stock valued at $2,639,065 over the last 90 days. Corporate insiders own 0.36% of the company’s stock.

AWK has been the subject of several recent research reports. Janney Montgomery Scott raised their price objective on American Water Works from $121.00 to $153.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Wells Fargo & Co raised their price objective on American Water Works from $122.00 to $128.00 and gave the company a “market perform” rating in a research report on Wednesday, August 14th. ValuEngine downgraded American Water Works from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Robert W. Baird raised their price target on American Water Works from $117.00 to $128.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Finally, Bank of America downgraded American Water Works from a “neutral” rating to an “underperform” rating and set a $116.00 price target for the company. in a report on Monday, July 15th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $129.60.

Shares of NYSE:AWK traded up $0.37 on Wednesday, hitting $121.17. 37,340 shares of the company traded hands, compared to its average volume of 1,032,424. American Water Works Company Inc has a 52 week low of $85.89 and a 52 week high of $129.89. The company has a quick ratio of 0.53, a current ratio of 0.56 and a debt-to-equity ratio of 1.43. The stock has a 50 day simple moving average of $124.25 and a 200-day simple moving average of $116.05. The company has a market cap of $22.34 billion, a PE ratio of 36.70, a PEG ratio of 4.26 and a beta of 0.09.

American Water Works (NYSE:AWK) last issued its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.94 earnings per share for the quarter, meeting the consensus estimate of $0.94. American Water Works had a return on equity of 10.51% and a net margin of 16.53%. The firm had revenue of $882.00 million during the quarter, compared to the consensus estimate of $907.56 million. During the same period last year, the company earned $0.83 earnings per share. The company’s revenue was up 3.4% on a year-over-year basis. As a group, sell-side analysts anticipate that American Water Works Company Inc will post 3.6 earnings per share for the current year.

About American Water Works

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 serving approximately 3.4 million active customers. The company serves residential customers; commercial customers, such as food and beverage providers, commercial property developers and proprietors, and energy suppliers; fire service and private fire customers; industrial customers, such as large-scale manufacturers, mining, and production operations; public authorities comprising government buildings and other public sector facilities; and other utilities and community water and wastewater systems.

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

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