Nordea Investment Management AB Purchases 2,108 Shares of American Water Works Company, Inc. (NYSE:AWK)

Posted by on May 13th, 2023

Nordea Investment Management AB increased its position in shares of American Water Works Company, Inc. (NYSE:AWK – Get Rating) by 18.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,689 shares of the utilities provider’s stock after buying an additional 2,108 shares during the period. Nordea Investment Management AB’s holdings in American Water Works were worth $2,106,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Richard W. Paul & Associates LLC bought a new stake in American Water Works during the 4th quarter valued at approximately $31,000. Capital Advisors Ltd. LLC boosted its stake in American Water Works by 133.0% during the 4th quarter. Capital Advisors Ltd. LLC now owns 487 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 278 shares during the period. Ameliora Wealth Management Ltd. bought a new stake in American Water Works in the 4th quarter valued at $45,000. HBC Financial Services PLLC bought a new stake in American Water Works in the 2nd quarter valued at $46,000. Finally, Hallmark Capital Management Inc. bought a new stake in American Water Works in the 3rd quarter valued at $55,000. 83.06% of the stock is owned by institutional investors.

American Water Works Stock Performance

Shares of NYSE:AWK opened at $149.77 on Friday. The stock has a market capitalization of $29.15 billion, a P/E ratio of 32.92, a P/E/G ratio of 3.78 and a beta of 0.57. The company has a current ratio of 0.71, a quick ratio of 0.65 and a debt-to-equity ratio of 1.10. American Water Works Company, Inc. has a 1-year low of $122.77 and a 1-year high of $162.59. The business has a 50-day moving average price of $145.61 and a two-hundred day moving average price of $148.76.

American Water Works (NYSE:AWK – Get Rating) last posted its quarterly earnings results on Thursday, April 27th. The utilities provider reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.01). American Water Works had a return on equity of 10.22% and a net margin of 21.40%. The business had revenue of $938.00 million for the quarter, compared to the consensus estimate of $903.84 million. During the same period last year, the firm earned $0.87 earnings per share. The company’s quarterly revenue was up 11.4% on a year-over-year basis. Equities analysts predict that American Water Works Company, Inc. will post 4.77 earnings per share for the current year.

American Water Works Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Tuesday, May 9th will be issued a dividend of $0.7075 per share. This represents a $2.83 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Monday, May 8th. This is a positive change from American Water Works’s previous quarterly dividend of $0.66. American Water Works’s payout ratio is currently 62.20%.

Analyst Ratings Changes

A number of analysts have weighed in on AWK shares. StockNews.com raised shares of American Water Works from a “sell” rating to a “hold” rating in a report on Wednesday, May 3rd. TheStreet downgraded American Water Works from a “b” rating to a “c+” rating in a research report on Wednesday, February 15th. Bank of America raised their price objective on American Water Works from $134.00 to $140.00 in a research report on Monday, April 24th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $180.00 price objective on shares of American Water Works in a research report on Tuesday, March 7th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $156.00.

American Water Works Profile

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American Water Works Co, Inc engages in the provision of complementary water and wastewater services. It operates through the following segments: Regulated Businesses, Market-Based Businesses, and Other. The Regulated Businesses segment offers water and wastewater services to customers. The Market-Based Businesses segment includes the military services group, which enters into long-term contracts with the U.S.

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Institutional Ownership by Quarter for American Water Works (NYSE:AWK)

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