Today: Today, State Treasurer State of Michigan invests in 400 by buying American Water Works (AWK) shares

Today, State Treasurer State of Michigan invests in 400 by buying American Water Works (AWK) shares

State Treasurer State of Michigan raised its position in American Water Works (NYSE:AWK) by 0.6% during the third quarter, Holdings Channel reports. The fund owned 62,100 shares of the company’s stock after buying an additional 400 shares during the period. State Treasurer State of Michigan’s holdings in American Water Works were worth $4,648,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Nisa Investment Advisors LLC increased its position 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 valued at $195,000 after buying an additional 10 shares in the last quarter. Cognios Capital LLC increased its position in American Water Works by 0.3% in the second quarter. Cognios Capital LLC now owns 3,650 shares of the company’s stock valued at $308,000 after buying an additional 11 shares in the last quarter. Washington Trust Bank increased its position in American Water Works by 1.0% in the third quarter. Washington Trust Bank now owns 2,093 shares of the company’s stock valued at $157,000 after buying an additional 21 shares in the last quarter. Pacer Advisors Inc. increased its position in American Water Works by 0.7% in the second quarter. Pacer Advisors Inc. now owns 3,323 shares of the company’s stock valued at $281,000 after buying an additional 24 shares in the last quarter. Finally, Johnson Investment Counsel Inc. increased its position in American Water Works by 0.5% in the second quarter. Johnson Investment Counsel Inc. now owns 6,012 shares of the company’s stock valued at $508,000 after buying an additional 27 shares in the last quarter. 80.33% of the stock is owned by hedge funds and other institutional investors.

Shares of American Water Works (NYSE:AWK) opened at 74.36 on Friday. The stock has a market cap of $13.24 billion, a PE ratio of 28.61 and a beta of 0.23. The company’s 50-day moving average price is $72.01 and its 200 day moving average price is $76.05. American Water Works has a 1-year low of $56.40 and a 1-year high of $85.24.

American Water Works (NYSE:AWK) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $1.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.04. The company earned $930 million during the quarter, compared to analyst estimates of $944.98 million. American Water Works had a return on equity of 9.85% and a net margin of 14.19%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.96 earnings per share. Equities analysts forecast that American Water Works will post $2.85 EPS for the current fiscal year.

The company also recently declared 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. The ex-dividend date is Monday, November 7th. This represents a $1.50 annualized dividend and a yield of 2.02%. American Water Works’s dividend payout ratio is presently 57.47%.

Several 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 Thursday. Vetr downgraded American Water Works from a “strong-buy” rating to a “buy” rating and set a $79.67 target price for the company. in a research report on Wednesday, November 16th. Bank of America Corp. raised American Water Works from a “neutral” rating to a “buy” rating and lifted their target price for the company from $77.00 to $84.00 in a research report on Wednesday, November 9th. Robert W. Baird began coverage on American Water Works in a research report on Friday, October 14th. They issued an “outperform” rating and a $82.00 target price for the company. Finally, Barclays PLC dropped their target price 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. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. American Water Works presently has an average rating of “Buy” and a consensus target price 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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