Trade Report: Today, Creative Planning Cuts Position in American Water Works (AWK)

Today, Creative Planning Cuts Position in American Water Works (AWK)

Creative Planning lowered its position in shares of American Water Works (NYSE:AWK) by 0.4% during the third quarter, Holdings Channel reports. The institutional investor owned 24,418 shares of the company’s stock after selling 101 shares during the period. Creative Planning’s holdings in American Water Works were worth $1,827,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in AWK. Oregon Public Employees Retirement Fund boosted its stake in shares of American Water Works by 35.9% in the third quarter. Oregon Public Employees Retirement Fund now owns 63,012 shares of the company’s stock worth $4,716,000 after buying an additional 16,632 shares during the period. LGT Capital Partners LTD. boosted its stake in shares of American Water Works by 12.7% in the third quarter. LGT Capital Partners LTD. now owns 213,730 shares of the company’s stock worth $15,996,000 after buying an additional 24,120 shares during the period. Advisory Services Network LLC boosted its stake in shares of American Water Works by 2.0% in the third quarter. Advisory Services Network LLC now owns 9,726 shares of the company’s stock worth $728,000 after buying an additional 188 shares during the period. Eqis Capital Management Inc. purchased a new stake in shares of American Water Works during the third quarter worth about $342,000. Finally, Washington Trust Bank boosted its stake in shares of American Water Works by 1.0% in the third quarter. Washington Trust Bank now owns 2,093 shares of the company’s stock worth $157,000 after buying an additional 21 shares during the period. 80.33% of the stock is owned by institutional investors and hedge funds.

American Water Works (NYSE:AWK) traded up 2.58% during trading on Friday, reaching $74.36. 550,158 shares of the company’s stock traded hands. The company has a 50-day moving average price of $72.01 and a 200 day moving average price of $76.05. American Water Works has a one year low of $56.40 and a one year high of $85.24. The firm has a market capitalization of $13.24 billion, a PE ratio of 28.61 and a beta of 0.23.

American Water Works (NYSE:AWK) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $1.01 by $0.04. American Water Works had a net margin of 14.19% and a return on equity of 9.85%. The business earned $930 million during the quarter, compared to analysts’ expectations of $944.98 million. During the same period in the previous year, the business posted $0.96 EPS. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, analysts anticipate that American Water Works will post $2.85 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Wednesday, November 9th will be paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 2.02%. The ex-dividend date is Monday, November 7th. American Water Works’s payout ratio is 57.47%.

A number of analysts have recently issued reports on AWK shares. Bank of America Corp. raised shares of American Water Works from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $77.00 to $84.00 in a research note on Wednesday, November 9th. Vetr raised shares of American Water Works from a “buy” rating to a “strong-buy” rating and set a $79.67 price objective for the company in a research note on Thursday, November 10th. Robert W. Baird started coverage on shares of American Water Works in a research note on Friday, October 14th. They issued an “outperform” rating and a $82.00 price objective for the company. Zacks Investment Research cut shares of American Water Works from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Barclays PLC cut their target price on shares of American Water Works from $87.00 to $81.00 and set an “overweight” rating for the company in a research note on Tuesday, September 6th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $80.33.

About American Water Works

American Water Works Company, Inc is a holding company. The Company is a water and wastewater utility company. The Company operates through two segments: the Regulated Businesses and the Market-Based Businesses. Its Regulated Businesses segment involves the ownership of subsidiaries that provide water and wastewater utility services to residential, commercial, industrial and other customers, including sale for resale and public authority customers.

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