Lake Point Wealth Management purchased a new stake in shares of American Water Works Company Inc (NYSE:AWK) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 504 shares of the utilities provider’s stock, valued at approximately $46,000.
A number of other institutional investors have also added to or reduced their stakes in AWK. Vanguard Group Inc increased its position in American Water Works by 2.3% during the third quarter. Vanguard Group Inc now owns 19,220,656 shares of the utilities provider’s stock valued at $1,690,841,000 after acquiring an additional 436,131 shares during the last quarter. BlackRock Inc. raised its position in shares of American Water Works by 2.2% in the 4th quarter. BlackRock Inc. now owns 14,335,088 shares of the utilities provider’s stock valued at $1,301,195,000 after purchasing an additional 311,893 shares during the last quarter. Bank of America Corp DE raised its position in shares of American Water Works by 0.9% in the 4th quarter. Bank of America Corp DE now owns 3,528,169 shares of the utilities provider’s stock valued at $320,252,000 after purchasing an additional 32,537 shares during the last quarter. Franklin Resources Inc. raised its position in shares of American Water Works by 0.4% in the 3rd quarter. Franklin Resources Inc. now owns 2,380,366 shares of the utilities provider’s stock valued at $209,401,000 after purchasing an additional 9,075 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of American Water Works by 7.3% in the 4th quarter. Geode Capital Management LLC now owns 2,362,440 shares of the utilities provider’s stock valued at $214,070,000 after purchasing an additional 161,731 shares during the last quarter. 85.36% of the stock is currently owned by institutional investors.
AWK has been the subject of several research analyst reports. Wells Fargo & Co reaffirmed a “buy awk” rating on shares of American Water Works in a research report on Monday, December 24th. Bank of America increased their price objective on shares of American Water Works from $92.00 to $103.00 and gave the company a “neutral” rating in a research report on Thursday, February 21st. Janney Montgomery Scott reissued a “buy” rating and set a $102.00 price target on shares of American Water Works in a research report on Thursday, February 21st. Finally, Zacks Investment Research reissued a “buy” rating and set a $104.00 price target on shares of American Water Works in a research report on Monday, December 31st. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $103.57.
American Water Works (NYSE:AWK) last posted its quarterly earnings results on Tuesday, February 19th. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.69. The company had revenue of $850.00 million during the quarter, compared to analyst estimates of $823.93 million. American Water Works had a net margin of 16.48% and a return on equity of 10.36%. American Water Works’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period last year, the firm posted $0.69 EPS. As a group, analysts predict that American Water Works Company Inc will post 3.58 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Monday, May 13th will be paid a dividend of $0.50 per share. This is a boost from American Water Works’s previous quarterly dividend of $0.46. The ex-dividend date is Friday, May 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.91%. American Water Works’s dividend payout ratio (DPR) is presently 55.15%.
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American Water Works 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 serving approximately 3.4 million active customers. The company serves residential customers; commercial customers, such as 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; and other utilities and community water and wastewater systems.
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