State Street Corp Cuts Stake in American Water Works (AWK)

State Street Corp lowered its stake in shares of American Water Works (NYSE:AWK) by 2.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,812,661 shares of the utilities provider’s stock after selling 241,793 shares during the period. State Street Corp owned about 4.94% of American Water Works worth $686,960,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in AWK. Victory Capital Management Inc. increased its stake in shares of American Water Works by 28.0% during the first quarter. Victory Capital Management Inc. now owns 24,243 shares of the utilities provider’s stock worth $1,885,000 after purchasing an additional 5,301 shares in the last quarter. Schroder Investment Management Group increased its stake in shares of American Water Works by 18.7% during the first quarter. Schroder Investment Management Group now owns 20,156 shares of the utilities provider’s stock worth $1,552,000 after purchasing an additional 3,181 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of American Water Works by 18.0% during the first quarter. Van ECK Associates Corp now owns 1,548 shares of the utilities provider’s stock worth $120,000 after purchasing an additional 236 shares in the last quarter. OppenheimerFunds Inc. increased its stake in shares of American Water Works by 33.3% during the first quarter. OppenheimerFunds Inc. now owns 197,514 shares of the utilities provider’s stock worth $15,361,000 after purchasing an additional 49,345 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of American Water Works by 89.3% during the first quarter. Wellington Management Group LLP now owns 67,064 shares of the utilities provider’s stock worth $5,216,000 after purchasing an additional 31,644 shares in the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

AWK has been the subject of several research reports. Zacks Investment Research raised shares of American Water Works from a “sell” rating to a “hold” rating in a research note on Thursday, September 14th. BidaskClub raised shares of American Water Works from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Boenning Scattergood reaffirmed a “hold” rating on shares of American Water Works in a research note on Friday, September 22nd. Robert W. Baird reaffirmed a “hold” rating and set a $82.00 price objective on shares of American Water Works in a research note on Sunday, October 1st. Finally, Vetr cut shares of American Water Works from a “buy” rating to a “hold” rating and set a $84.04 price objective for the company. in a research note on Wednesday, June 14th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $82.86.

Shares of American Water Works (NYSE:AWK) opened at 84.4048 on Wednesday. American Water Works has a 52 week low of $69.41 and a 52 week high of $84.40. The company’s 50-day moving average is $81.92 and its 200 day moving average is $79.82. The stock has a market cap of $15.05 billion, a PE ratio of 31.8629 and a beta of 0.25.

American Water Works (NYSE:AWK) last released its earnings results on Wednesday, August 2nd. The utilities provider reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.07). American Water Works had a net margin of 14.20% and a return on equity of 9.70%. The company had revenue of $844.00 million during the quarter, compared to analysts’ expectations of $869.52 million. During the same quarter in the previous year, the firm posted $0.77 earnings per share. American Water Works’s revenue for the quarter was up 2.1% compared to the same quarter last year. Analysts forecast that American Water Works will post $3.00 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This piece of content was first published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this piece of content on another domain, it was copied illegally and reposted in violation of US & international copyright & trademark laws. The legal version of this piece of content can be viewed at https://ledgergazette.com/2017/10/11/state-street-corp-cuts-stake-in-american-water-works-awk.html.

In related news, COO Walter Lynch sold 3,335 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an avera

Several other hedge funds also recently added to or reduced their stakes in AWK. Victory Capital Management Inc. increased its stake in shares of American Water Works by 28.0% during the first quarter. Victory Capital Management Inc. now owns 24,243 shares of the utilities provider’s stock worth $1,885,000 after purchasing an additional 5,301 shares in the last quarter. Schroder Investment Management Group increased its stake in shares of American Water Works by 18.7% during the first quarter. Schroder Investment Management Group now owns 20,156 shares of the utilities provider’s stock worth $1,552,000 after purchasing an additional 3,181 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of American Water Works by 18.0% during the first quarter. Van ECK Associates Corp now owns 1,548 shares of the utilities provider’s stock worth $120,000 after purchasing an additional 236 shares in the last quarter. OppenheimerFunds Inc. increased its stake in shares of American Water Works by 33.3% during the first quarter. OppenheimerFunds Inc. now owns 197,514 shares of the utilities provider’s stock worth $15,361,000 after purchasing an additional 49,345 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of American Water Works by 89.3% during the first quarter. Wellington Management Group LLP now owns 67,064 shares of the utilities provider’s stock worth $5,216,000 after purchasing an additional 31,644 shares in the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

AWK has been the subject of several research reports. Zacks Investment Research raised shares of American Water Works from a “sell” rating to a “hold” rating in a research note on Thursday, September 14th. BidaskClub raised shares of American Water Works from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Boenning Scattergood reaffirmed a “hold” rating on shares of American Water Works in a research note on Friday, September 22nd. Robert W. Baird reaffirmed a “hold” rating and set a $82.00 price objective on shares of American Water Works in a research note on Sunday, October 1st. Finally, Vetr cut shares of American Water Works from a “buy” rating to a “hold” rating and set a $84.04 price objective for the company. in a research note on Wednesday, June 14th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $82.86.

Shares of American Water Works (NYSE:AWK) opened at 84.4048 on Wednesday. American Water Works has a 52 week low of $69.41 and a 52 week high of $84.40. The company’s 50-day moving average is $81.92 and its 200 day moving average is $79.82. The stock has a market cap of $15.05 billion, a PE ratio of 31.8629 and a beta of 0.25.

American Water Works (NYSE:AWK) last released its earnings results on Wednesday, August 2nd. The utilities provider reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.07). American Water Works had a net margin of 14.20% and a return on equity of 9.70%. The company had revenue of $844.00 million during the quarter, compared to analysts’ expectations of $869.52 million. During the same quarter in the previous year, the firm posted $0.77 earnings per share. American Water Works’s revenue for the quarter was up 2.1% compared to the same quarter last year. Analysts forecast that American Water Works will post $3.00 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This piece of content was first published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this piece of content on another domain, it was copied illegally and reposted in violation of US & international copyright & trademark laws. The legal version of this piece of content can be viewed at https://ledgergazette.com/2017/10/11/state-street-corp-cuts-stake-in-american-water-works-awk.html.

In related news, COO Walter Lynch sold 3,335 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $82.05, for a total value of $273,636.75. Following the completion of the sale, the chief operating officer now directly owns 94,702 shares in the company, valued at $7,770,299.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.34% of the stock is currently owned by insiders.

American Water Works Profile

American Water Works Company, Inc is a holding company for regulated and market-based subsidiaries throughout the United States and Ontario, Canada. The Company’s Regulated Businesses segment provides water and wastewater services as public utilities in 16 states in the United States as of December 31, 2016.

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

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