PNC Financial Services Group Inc. reduced its holdings in shares of American Water Works Company Inc (NYSE:AWK) by 4.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,403,313 shares of the utilities provider’s stock after selling 60,762 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.77% of American Water Works worth $180,548,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of AWK. CX Institutional raised its position in shares of American Water Works by 233.3% in the 2nd quarter. CX Institutional now owns 200 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 140 shares in the last quarter. Prestige Wealth Management Group LLC grew its position in American Water Works by 858.3% during the first quarter. Prestige Wealth Management Group LLC now owns 230 shares of the utilities provider’s stock worth $28,000 after buying an additional 206 shares in the last quarter. First Financial Corp IN grew its position in American Water Works by 118.0% during the second quarter. First Financial Corp IN now owns 218 shares of the utilities provider’s stock worth $28,000 after buying an additional 118 shares in the last quarter. Ovata Capital Management Ltd purchased a new stake in shares of American Water Works in the 2nd quarter valued at about $34,000. Finally, Watson Rebecca bought a new stake in shares of American Water Works during the 2nd quarter valued at about $39,000. Institutional investors own 82.51% of the company’s stock.
American Water Works stock traded down $0.82 during trading hours on Wednesday, reaching $142.77. The company had a trading volume of 27,118 shares, compared to its average volume of 608,597. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.90 and a quick ratio of 0.87. American Water Works Company Inc has a 12-month low of $92.00 and a 12-month high of $150.47. The company has a 50-day moving average price of $144.36 and a 200 day moving average price of $130.97. The firm has a market cap of $25.89 billion, a price-to-earnings ratio of 40.69, a P/E/G ratio of 4.61 and a beta of 0.20.
American Water Works (NYSE:AWK) last issued its earnings results on Wednesday, August 5th. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.01. The firm had revenue of $931.00 million for the quarter, compared to analysts’ expectations of $916.88 million. American Water Works had a net margin of 17.29% and a return on equity of 10.79%. As a group, research analysts expect that American Water Works Company Inc will post 3.83 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 12th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date was Tuesday, August 11th. American Water Works’s payout ratio is currently 60.94%.
A number of brokerages have recently commented on AWK. Wells Fargo & Company reissued a “hold” rating on shares of American Water Works in a report on Thursday, August 6th. UBS Group increased their target price on American Water Works from $127.00 to $139.00 and gave the company a “neutral” rating in a research note on Friday, June 5th. Barclays started coverage on American Water Works in a research note on Wednesday, July 15th. They set an “equal weight” rating and a $138.00 price target for the company. Janney Montgomery Scott increased their price objective on American Water Works to $153.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Finally, Seaport Global Securities started coverage on American Water Works in a research report on Wednesday, May 20th. They issued a “buy” rating and a $130.00 target price for the company. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $136.23.
In related news, SVP Cheryl Norton sold 609 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $143.78, for a total value of $87,562.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Walter Lynch sold 8,454 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $148.82, for a total value of $1,258,124.28. Following the transaction, the chief executive officer now directly owns 127,338 shares in the company, valued at $18,950,441.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,722 shares of company stock valued at $2,043,605. Insiders own 0.30% of the company’s stock.
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 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.
Further Reading: Why Dividend Stocks May Be Right for You
Receive News & Ratings for American Water Works Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Water Works and related companies with MarketBeat.com's FREE daily email newsletter.