Candriam Luxembourg S.C.A. cut its stake in shares of American Water (NYSE:AWK) by 41.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 117,266 shares of the utilities provider’s stock after selling 84,733 shares during the period. Candriam Luxembourg S.C.A. owned approximately 0.07% of American Water worth $9,631,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Synovus Financial Corp acquired a new stake in shares of American Water during the first quarter worth $114,000. Signaturefd LLC acquired a new stake in shares of American Water during the first quarter worth $121,000. Resources Investment Advisors Inc. acquired a new stake in shares of American Water during the fourth quarter worth $152,000. Truewealth LLC acquired a new stake in shares of American Water during the fourth quarter worth $189,000. Finally, Lakeview Capital Partners LLC acquired a new stake in shares of American Water during the fourth quarter worth $214,000. 84.20% of the stock is currently owned by institutional investors.
American Water opened at $80.51 on Wednesday, Marketbeat.com reports. The firm has a market cap of $14.32 billion, a P/E ratio of 26.57, a price-to-earnings-growth ratio of 3.18 and a beta of 0.15. American Water has a 1-year low of $76.04 and a 1-year high of $92.37. The company has a current ratio of 0.29, a quick ratio of 0.27 and a debt-to-equity ratio of 1.17.
American Water (NYSE:AWK) last issued its earnings results on Wednesday, May 2nd. The utilities provider reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. American Water had a return on equity of 10.20% and a net margin of 13.06%. The firm had revenue of $761.00 million for the quarter, compared to the consensus estimate of $726.74 million. During the same quarter in the previous year, the company posted $0.52 earnings per share. The business’s quarterly revenue was up .7% compared to the same quarter last year. equities research analysts predict that American Water will post 3.27 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Friday, May 11th will be paid a $0.455 dividend. The ex-dividend date is Thursday, May 10th. This represents a $1.82 dividend on an annualized basis and a yield of 2.26%. This is an increase from American Water’s previous quarterly dividend of $0.42. American Water’s payout ratio is 60.07%.
In other American Water news, EVP Michael A. Sgro sold 16,026 shares of the business’s stock in a transaction dated Wednesday, May 16th. The stock was sold at an average price of $80.54, for a total value of $1,290,734.04. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.35% of the company’s stock.
Several research analysts recently weighed in on AWK shares. Argus reissued a “buy” rating and set a $105.00 price target on shares of American Water in a research report on Tuesday, May 8th. ValuEngine lowered American Water from a “buy” rating to a “hold” rating in a research report on Wednesday, May 16th. UBS started coverage on American Water in a research report on Thursday, March 8th. They set a “buy” rating and a $89.00 price target on the stock. They noted that the move was a valuation call. Robert W. Baird reissued a “neutral” rating and set a $88.00 price target (down from $91.00) on shares of American Water in a research report on Thursday, February 22nd. Finally, Janney Montgomery Scott raised American Water from a “neutral” rating to a “buy” rating and upped their price target for the company from $87.00 to $92.00 in a research report on Monday, April 16th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $89.52.
American Water Company Profile
American Water Works Company, Inc, through its subsidiaries, provides water and wastewater services in the United States and Canada. It offers water and wastewater services to approximately 1,600 communities in 16 states. The company operates approximately 72 surface water treatment plants; 527 groundwater treatment plants; 8 combined treatment plants; 127 wastewater treatment plants; 50,382 miles of transmission, distribution, and collection mains and pipes; 1,103 groundwater wells; 1,428 water and wastewater pumping stations; 1,313 treated water storage facilities; and 80 dams.
Want to see what other hedge funds are holding AWK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Water (NYSE:AWK).
Receive News & Ratings for American Water Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Water and related companies with MarketBeat.com's FREE daily email newsletter.