Today, 1ST Source Bank Boosts Stake in American Water Works (AWK)

Today, 1ST Source Bank Boosts Stake in American Water Works (AWK)

1ST Source Bank increased its stake in American Water Works (NYSE:AWK) by 0.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,575 shares of the company’s stock after buying an additional 275 shares during the period. 1ST Source Bank’s holdings in American Water Works were worth $3,852,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. State Street Corp increased its stake in American Water Works by 139.3% in the first quarter. State Street Corp now owns 9,472,712 shares of the company’s stock valued at $652,950,000 after buying an additional 5,514,095 shares during the last quarter. Geode Capital Management LLC increased its stake in American Water Works by 36.4% in the first quarter. Geode Capital Management LLC now owns 1,586,446 shares of the company’s stock valued at $109,150,000 after buying an additional 423,123 shares during the last quarter. PGGM Investments increased its stake in American Water Works by 126.7% in the second quarter. PGGM Investments now owns 730,189 shares of the company’s stock valued at $61,708,000 after buying an additional 408,115 shares during the last quarter. Bank of Montreal Can bought a new stake in American Water Works during the second quarter valued at $33,057,000. Finally, UBS Asset Management Americas Inc. increased its stake in American Water Works by 57.7% in the first quarter. UBS Asset Management Americas Inc. now owns 929,011 shares of the company’s stock valued at $64,036,000 after buying an additional 339,812 shares during the last quarter. 82.62% of the stock is owned by institutional investors and hedge funds.

Shares of American Water Works (NYSE:AWK) traded up 1.27% during trading on Tuesday, hitting $72.65. The stock had a trading volume of 380,465 shares. American Water Works has a 1-year low of $55.13 and a 1-year high of $85.24. The firm has a 50 day moving average of $73.91 and a 200 day moving average of $75.91. The company has a market capitalization of $12.92 billion, a price-to-earnings ratio of 26.50 and a beta of 0.17.

American Water Works (NYSE:AWK) last announced its earnings results on Wednesday, August 3rd. The company reported $0.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.04. American Water Works had a return on equity of 9.62% and a net margin of 15.14%. The company earned $827 million during the quarter, compared to analyst estimates of $832.47 million. During the same period last year, the company posted $0.68 earnings per share. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. Analysts expect that American Water Works will post $2.83 EPS for the current fiscal year.

Several equities research analysts recently weighed in on AWK shares. Bank of America Corp. downgraded shares of American Water Works from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $71.92 to $88.00 in a report on Wednesday, July 6th. They noted that the move was a valuation call. Argus initiated coverage on shares of American Water Works in a report on Friday, June 24th. They issued a “buy” rating and a $88.00 price target for the company. Vetr raised shares of American Water Works from a “buy” rating to a “strong-buy” rating and set a $90.33 price target for the company in a report on Thursday, August 4th. Barclays PLC cut their price target on shares of American Water Works from $87.00 to $81.00 and set an “overweight” rating for the company in a report on Tuesday, September 6th. Finally, Robert W. Baird initiated coverage on shares of American Water Works in a report on Friday. They issued an “outperform” rating and a $82.00 price target for the company. Six investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $82.17.

In related news, COO Walter Lynch sold 10,000 shares of American Water Works stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $76.00, for a total value of $760,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mark F. Strauss sold 15,467 shares of American Water Works stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $76.08, for a total value of $1,176,729.36. The disclosure for this sale can be found here. 0.32% of the stock is owned by insiders.

American Water Works Company Profile

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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