Proficio Capital Partners LLC Invests $86,000 in American Water Works Company, Inc. (NYSE:AWK)

Posted by Defense World Staff on Jul 4th, 2023

Proficio Capital Partners LLC bought a new stake in American Water Works Company, Inc. (NYSE:AWK – Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 86,219 shares of the utilities provider’s stock, valued at approximately $86,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of American Water Works by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 22,489,085 shares of the utilities provider’s stock worth $2,927,179,000 after purchasing an additional 161,915 shares during the period. State Street Corp lifted its holdings in American Water Works by 1.5% in the third quarter. State Street Corp now owns 10,679,936 shares of the utilities provider’s stock valued at $1,390,100,000 after buying an additional 153,609 shares during the period. Impax Asset Management Group plc boosted its position in American Water Works by 4.1% during the fourth quarter. Impax Asset Management Group plc now owns 4,841,870 shares of the utilities provider’s stock valued at $737,128,000 after acquiring an additional 190,452 shares during the last quarter. Amundi grew its holdings in American Water Works by 11.5% during the 4th quarter. Amundi now owns 3,710,554 shares of the utilities provider’s stock worth $588,579,000 after acquiring an additional 382,239 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of American Water Works by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 3,709,960 shares of the utilities provider’s stock worth $564,451,000 after acquiring an additional 82,464 shares in the last quarter. 84.05% of the stock is currently owned by institutional investors.

American Water Works Price Performance

Shares of NYSE:AWK opened at $143.97 on Tuesday. American Water Works Company, Inc. has a twelve month low of $122.77 and a twelve month high of $162.59. The stock’s 50 day moving average is $145.85 and its 200-day moving average is $148.00. The company has a quick ratio of 0.65, a current ratio of 0.71 and a debt-to-equity ratio of 1.10. The firm has a market capitalization of $28.02 billion, a price-to-earnings ratio of 31.64, a PEG ratio of 3.74 and a beta of 0.56.

American Water Works (NYSE:AWK – Free Report) last released its quarterly earnings data on Thursday, April 27th. The utilities provider reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.01). The business had revenue of $938.00 million for the quarter, compared to analyst estimates of $903.84 million. American Water Works had a return on equity of 10.22% and a net margin of 21.40%. The business’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.87 EPS. Sell-side analysts forecast that American Water Works Company, Inc. will post 4.77 EPS for the current fiscal year.

American Water Works Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Tuesday, May 9th were paid a $0.7075 dividend. The ex-dividend date was Monday, May 8th. This is an increase from American Water Works’s previous quarterly dividend of $0.66. This represents a $2.83 annualized dividend and a dividend yield of 1.97%. American Water Works’s dividend payout ratio is 62.20%.

Insider Activity

In related news, Director Michael Marberry purchased 1,400 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The stock was acquired at an average price of $142.35 per share, for a total transaction of $199,290.00. Following the completion of the acquisition, the director now owns 3,673 shares of the company’s stock, valued at approximately $522,851.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Royal Bank of Canada restated an “outperform” rating and set a $180.00 target price on shares of American Water Works in a research report on Tuesday, March 7th. Bank of America increased their price target on American Water Works from $134.00 to $140.00 in a report on Monday, April 24th. Finally, StockNews.com lowered shares of American Water Works from a “hold” rating to a “sell” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, American Water Works currently has a consensus rating of “Hold” and an average price target of $156.00.

American Water Works Company Profile

(Free Report)

American Water Works Company, Inc, through its subsidiaries, provides water and wastewater services in the United States. It offers water and wastewater services to approximately 1,600 communities in 14 states serving approximately 3.4 million active customers. The company serves residential customers; commercial customers, including food and beverage providers, commercial property developers and proprietors, and energy suppliers; fire service and private fire customers; industrial customers, such as large-scale manufacturers, mining, and production operations; public authorities comprising government buildings and other public sector facilities, such as schools and universities; and other utilities and community water and wastewater systems.