Macquarie Group Ltd. boosted its position in American Water Works (NYSE:AWK) by 48.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 229,000 shares of the company’s stock after buying an additional 74,800 shares during the period. Macquarie Group Ltd.’s holdings in American Water Works were worth $19,353,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in AWK. Northwestern Mutual Wealth Management Co. increased its stake in American Water Works by 488.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,612 shares of the company’s stock worth $136,000 after buying an additional 1,338 shares during the period. Nisa Investment Advisors LLC increased its stake in American Water Works by 0.4% in the second quarter. Nisa Investment Advisors LLC now owns 2,310 shares of the company’s stock worth $195,000 after buying an additional 10 shares during the period. Tower Research Capital LLC TRC purchased a new stake in American Water Works during the second quarter worth $197,000. Mizuho Asset Management Co. Ltd. increased its stake in American Water Works by 140.1% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,480 shares of the company’s stock worth $210,000 after buying an additional 1,447 shares during the period. Finally, Edgewood Management LLC purchased a new stake in American Water Works during the second quarter worth $211,000. Hedge funds and other institutional investors own 80.33% of the company’s stock.
Shares of American Water Works (NYSE:AWK) traded up 2.58% during mid-day trading on Friday, reaching $74.36. 550,158 shares of the company’s stock traded hands. The firm has a market cap of $13.24 billion, a price-to-earnings ratio of 28.61 and a beta of 0.23. American Water Works has a 52 week low of $56.40 and a 52 week high of $85.24. The company’s 50 day moving average is $72.01 and its 200-day moving average is $76.05.
American Water Works (NYSE:AWK) last issued its quarterly earnings results on Wednesday, November 2nd. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.04. The business earned $930 million during the quarter, compared to analyst estimates of $944.98 million. American Water Works had a net margin of 14.19% and a return on equity of 9.85%. American Water Works’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.96 earnings per share. Equities analysts expect that American Water Works will post $2.85 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Wednesday, November 9th will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Monday, November 7th. American Water Works’s dividend payout ratio is currently 57.47%.
A number of research firms have weighed in on AWK. Zacks Investment Research downgraded American Water Works from a “buy” rating to a “hold” rating in a research report on Tuesday, November 15th. Barclays PLC cut their price objective on American Water Works from $87.00 to $81.00 and set an “overweight” rating for the company in a research report on Tuesday, September 6th. Vetr downgraded American Water Works from a “strong-buy” rating to a “buy” rating and set a $79.67 price objective for the company. in a research report on Wednesday, November 16th. Robert W. Baird started coverage on American Water Works in a research report on Friday, October 14th. They set an “outperform” rating and a $82.00 price objective for the company. Finally, Bank of America Corp. upgraded American Water Works from a “neutral” rating to a “buy” rating and increased their price objective for the company from $77.00 to $84.00 in a research report on Wednesday, November 9th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average 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.