Tokio Marine Asset Management Co. Ltd. purchased a new position in American Water Works Company Inc (NYSE:AWK) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,113 shares of the utilities provider’s stock, valued at approximately $245,000.
A number of other hedge funds have also bought and sold shares of the business. BlackRock Inc. boosted its stake in American Water Works by 1.6% in the 1st quarter. BlackRock Inc. now owns 14,569,294 shares of the utilities provider’s stock worth $1,518,993,000 after purchasing an additional 234,206 shares during the period. Wells Fargo & Company MN boosted its stake in American Water Works by 2.0% in the 1st quarter. Wells Fargo & Company MN now owns 3,746,952 shares of the utilities provider’s stock worth $390,657,000 after purchasing an additional 74,131 shares during the period. Northern Trust Corp boosted its stake in American Water Works by 3.4% in the 1st quarter. Northern Trust Corp now owns 3,668,158 shares of the utilities provider’s stock worth $382,443,000 after purchasing an additional 122,185 shares during the period. Geode Capital Management LLC boosted its stake in 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 worth $214,070,000 after purchasing an additional 161,731 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in American Water Works by 7.3% in the 1st quarter. Janus Henderson Group PLC now owns 1,985,217 shares of the utilities provider’s stock worth $206,979,000 after purchasing an additional 135,902 shares during the period. Institutional investors and hedge funds own 84.32% of the company’s stock.
Shares of NYSE AWK traded up $0.45 during midday trading on Tuesday, reaching $115.83. 347,780 shares of the stock traded hands, compared to its average volume of 931,449. The company has a quick ratio of 0.53, a current ratio of 0.56 and a debt-to-equity ratio of 1.43. The company has a market capitalization of $20.84 billion, a PE ratio of 35.10, a PEG ratio of 4.04 and a beta of 0.17. American Water Works Company Inc has a one year low of $85.88 and a one year high of $119.30. The stock has a 50 day moving average of $116.50.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Friday, August 9th will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, August 8th. This represents a $2.00 annualized dividend and a yield of 1.73%. American Water Works’s payout ratio is presently 60.61%.
In related news, COO Walter Lynch sold 18,545 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $111.15, for a total transaction of $2,061,276.75. Following the sale, the chief operating officer now owns 118,583 shares in the company, valued at approximately $13,180,500.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael A. Sgro sold 6,680 shares of the stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $110.93, for a total value of $741,012.40. The disclosure for this sale can be found here. Insiders have sold a total of 66,556 shares of company stock worth $7,477,635 in the last 90 days. 0.36% of the stock is currently owned by insiders.
AWK has been the subject of a number of research reports. Janney Montgomery Scott reiterated a “buy” rating and set a $121.00 target price (up from $102.00) on shares of American Water Works in a research report on Thursday, May 2nd. Bank of America downgraded American Water Works from a “neutral” rating to an “underperform” rating and set a $116.00 target price for the company. in a research report on Monday, July 15th. They noted that the move was a valuation call. Zacks Investment Research upgraded American Water Works from a “hold” rating to a “buy” rating and set a $123.00 target price for the company in a research report on Thursday, May 16th. Wells Fargo & Co reiterated a “hold” rating on shares of American Water Works in a research report on Monday, June 10th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of American Water Works in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $111.83.
About American Water Works
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.
Recommended Story: How interest rates affect municipal bond prices
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 Works Company Inc (NYSE:AWK).
Receive News & Ratings for American Water Works Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Water Works and related companies with MarketBeat.com's FREE daily email newsletter.