Louisiana State Employees Retirement System boosted its stake in American Water Works Company, Inc. (NYSE:AWK – Free Report) by 6.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,500 shares of the utilities provider’s stock after buying an additional 800 shares during the quarter. Louisiana State Employees Retirement System’s holdings in American Water Works were worth $1,831,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Gradient Investments LLC purchased a new stake in shares of American Water Works during the 1st quarter valued at $26,000. Clear Street Markets LLC purchased a new stake in shares of American Water Works during the 4th quarter valued at $28,000. Grey Fox Wealth Advisors LLC purchased a new stake in shares of American Water Works during the 4th quarter valued at $29,000. Spirit of America Management Corp NY purchased a new stake in shares of American Water Works during the 1st quarter valued at $29,000. Finally, Richard W. Paul & Associates LLC purchased a new stake in shares of American Water Works during the 4th quarter valued at $31,000. 84.05% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on AWK. Royal Bank of Canada reissued an “outperform” rating and issued a $180.00 price objective on shares of American Water Works in a report on Tuesday, March 7th. StockNews.com lowered American Water Works from a “hold” rating to a “sell” rating in a report on Monday. Finally, Bank of America lifted their price objective on American Water Works from $134.00 to $140.00 in a report on Monday, April 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $156.00.
American Water Works Stock Up 0.9 %
American Water Works (NYSE:AWK – Free Report) last issued its earnings results on Thursday, April 27th. The utilities provider reported $0.91 EPS for the quarter, missing the consensus estimate 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 company had revenue of $938.00 million during the quarter, compared to the consensus estimate of $903.84 million. During the same quarter in the prior year, the business earned $0.87 EPS. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. Research analysts anticipate that American Water Works Company, Inc. will post 4.77 earnings per share for the current fiscal year.
American Water Works Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Tuesday, May 9th were given a dividend of $0.7075 per share. This represents a $2.83 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date was Monday, May 8th. This is an increase from American Water Works’s previous quarterly dividend of $0.66. American Water Works’s dividend payout ratio (DPR) is 62.20%.
Insider Activity
In other American Water Works news, Director Michael Marberry purchased 1,400 shares of the company’s stock in a transaction dated Thursday, May 18th. The stock was purchased at an average price of $142.35 per share, for a total transaction of $199,290.00. Following the transaction, the director now owns 3,673 shares in the company, valued at approximately $522,851.55. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.08% of the company’s stock.
About American Water Works
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.
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