OLD National Bancorp IN Raises Stock Position in American Water Works Company, Inc. (NYSE:AWK)

Posted by Defense World Staff on Jul 4th, 2023

OLD National Bancorp IN boosted its position in shares of American Water Works Company, Inc. (NYSE:AWK – Free Report) by 8.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,951 shares of the utilities provider’s stock after purchasing an additional 220 shares during the period. OLD National Bancorp IN’s holdings in American Water Works were worth $432,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Louisiana State Employees Retirement System raised its stake in American Water Works by 6.8% during the first quarter. Louisiana State Employees Retirement System now owns 12,500 shares of the utilities provider’s stock worth $1,831,000 after purchasing an additional 800 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of American Water Works during the first quarter valued at about $86,000. Nordea Investment Management AB increased its position in shares of American Water Works by 8.4% during the first quarter. Nordea Investment Management AB now owns 14,838 shares of the utilities provider’s stock valued at $2,181,000 after acquiring an additional 1,149 shares during the last quarter. Brookstone Capital Management increased its position in shares of American Water Works by 12.4% during the first quarter. Brookstone Capital Management now owns 1,910 shares of the utilities provider’s stock valued at $286,000 after acquiring an additional 211 shares during the last quarter. Finally, IFP Advisors Inc increased its position in shares of American Water Works by 11.3% during the first quarter. IFP Advisors Inc now owns 8,134 shares of the utilities provider’s stock valued at $668,000 after acquiring an additional 823 shares during the last quarter. 84.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Michael Marberry purchased 1,400 shares of the business’s stock in a transaction dated 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 acquisition, the director now directly 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 SEC, which can be accessed through the SEC website. Insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on AWK shares. Bank of America lifted their price target on shares of American Water Works from $134.00 to $140.00 in a research report on Monday, April 24th. Royal Bank of Canada reiterated an “outperform” rating and set a $180.00 price target on shares of American Water Works in a research report on Tuesday, March 7th. Finally, StockNews.com cut shares of American Water Works from a “hold” rating to a “sell” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $156.00.

American Water Works Price Performance

Shares of AWK opened at $143.97 on Tuesday. American Water Works Company, Inc. has a fifty-two week low of $122.77 and a fifty-two week high of $162.59. The firm’s 50 day moving average price is $145.85 and its 200 day moving average price 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 company has a market cap of $28.02 billion, a P/E ratio of 31.64, a PEG ratio of 3.74 and a beta of 0.56.

American Water Works (NYSE:AWK – Free Report) last issued its earnings results on Thursday, April 27th. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.01). The company had revenue of $938.00 million during the quarter, compared to analyst estimates of $903.84 million. American Water Works had a net margin of 21.40% and a return on equity of 10.22%. The company’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. On average, research analysts forecast that American Water Works Company, Inc. will post 4.77 earnings per share for the current fiscal year.

American Water Works Increases Dividend

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

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.