Sumitomo Life Insurance Co. Cuts Stock Holdings in American Water Works Company Inc (NYSE:AWK)

Sumitomo Life Insurance Co. decreased its position in shares of American Water Works Company Inc (NYSE:AWK) by 34.4% during the second quarter, HoldingsChannel reports. The institutional investor owned 12,749 shares of the utilities provider’s stock after selling 6,693 shares during the period. Sumitomo Life Insurance Co.’s holdings in American Water Works were worth $1,479,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of AWK. Tortoise Index Solutions LLC lifted its position in American Water Works by 3.1% during the first quarter. Tortoise Index Solutions LLC now owns 3,193 shares of the utilities provider’s stock valued at $333,000 after purchasing an additional 96 shares during the period. Welch & Forbes LLC lifted its position in American Water Works by 1.3% during the first quarter. Welch & Forbes LLC now owns 7,756 shares of the utilities provider’s stock valued at $808,000 after purchasing an additional 100 shares during the period. JNBA Financial Advisors lifted its position in American Water Works by 28.6% during the second quarter. JNBA Financial Advisors now owns 450 shares of the utilities provider’s stock valued at $52,000 after purchasing an additional 100 shares during the period. Stephens Inc. AR lifted its position in American Water Works by 1.1% during the first quarter. Stephens Inc. AR now owns 9,598 shares of the utilities provider’s stock valued at $1,001,000 after purchasing an additional 103 shares during the period. Finally, HighPoint Advisor Group LLC lifted its position in American Water Works by 3.5% during the first quarter. HighPoint Advisor Group LLC now owns 3,094 shares of the utilities provider’s stock valued at $331,000 after purchasing an additional 106 shares during the period. Hedge funds and other institutional investors own 84.32% of the company’s stock.

AWK traded up $0.15 during trading on Wednesday, hitting $117.57. The company’s stock had a trading volume of 407,607 shares, compared to its average volume of 931,449. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.53 and a current ratio of 0.56. 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 market cap of $21.21 billion, a price-to-earnings ratio of 35.63, a PEG ratio of 4.04 and a beta of 0.17. The stock has a 50 day moving average price of $116.49.

American Water Works (NYSE:AWK) last released its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.94 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.94. American Water Works had a net margin of 16.53% and a return on equity of 10.51%. The business had revenue of $882.00 million for the quarter, compared to the consensus estimate of $907.56 million. During the same period last year, the firm earned $0.83 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis. Analysts expect that American Water Works Company Inc will post 3.6 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Friday, August 9th will be given a $0.50 dividend. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $2.00 annualized dividend and a yield of 1.70%. American Water Works’s payout ratio is presently 60.61%.

In other American Water Works news, EVP Michael A. Sgro sold 6,680 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $110.93, for a total value of $741,012.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Walter Lynch sold 3,372 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $112.90, for a total transaction of $380,698.80. Following the completion of the transaction, the chief operating officer now owns 106,666 shares in the company, valued at $12,042,591.40. The disclosure for this sale can be found here. Insiders sold 66,556 shares of company stock worth $7,477,635 over the last quarter. Insiders own 0.36% of the company’s stock.

AWK has been the topic of a number of research analyst reports. Janney Montgomery Scott restated a “buy” rating and set a $121.00 price objective (up previously from $102.00) on shares of American Water Works in a research report on Thursday, May 2nd. Zacks Investment Research upgraded shares of American Water Works from a “hold” rating to a “buy” rating and set a $123.00 price objective on the stock in a research report on Thursday, May 16th. Wells Fargo & Co restated a “hold” rating on shares of American Water Works in a research report on Monday, June 10th. Boenning Scattergood restated a “hold” rating on shares of American Water Works in a research report on Thursday, May 2nd. Finally, Bank of America downgraded shares of American Water Works from a “neutral” rating to an “underperform” rating and set a $116.00 price objective on the stock. in a research report on Monday, July 15th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $111.83.

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

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