Envestnet Asset Management Inc. Boosts Stake in American Water Works Company Inc (AWK)

Envestnet Asset Management Inc. boosted its position in American Water Works Company Inc (NYSE:AWK) by 85.0% during the first quarter, Holdings Channel reports. The institutional investor owned 12,600 shares of the utilities provider’s stock after buying an additional 5,788 shares during the period. Envestnet Asset Management Inc.’s holdings in American Water Works Company were worth $981,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. Canada Pension Plan Investment Board raised its stake in shares of American Water Works Company by 38.2% in the first quarter. Canada Pension Plan Investment Board now owns 242,110 shares of the utilities provider’s stock worth $18,829,000 after buying an additional 66,954 shares in the last quarter. Partners Group Holding AG raised its stake in shares of American Water Works Company by 15.7% in the fourth quarter. Partners Group Holding AG now owns 595,390 shares of the utilities provider’s stock worth $42,861,000 after buying an additional 80,600 shares in the last quarter. Norges Bank purchased a new stake in shares of American Water Works Company during the fourth quarter worth $219,984,000. Highbridge Capital Management LLC raised its stake in shares of American Water Works Company by 7.6% in the fourth quarter. Highbridge Capital Management LLC now owns 408,023 shares of the utilities provider’s stock worth $29,525,000 after buying an additional 28,644 shares in the last quarter. Finally, British Columbia Investment Management Corp raised its stake in shares of American Water Works Company by 13.6% in the first quarter. British Columbia Investment Management Corp now owns 227,282 shares of the utilities provider’s stock worth $17,676,000 after buying an additional 27,222 shares in the last quarter. Institutional investors and hedge funds own 81.00% of the company’s stock.

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

Shares of American Water Works Company Inc (NYSE AWK) opened at 79.26 on Friday. The company has a market capitalization of $14.12 billion, a price-to-earnings ratio of 29.57 and a beta of 0.19. The firm’s 50-day moving average price is $77.81 and its 200-day moving average price is $75.33. American Water Works Company Inc has a one year low of $69.41 and a one year high of $85.24.

American Water Works Company (NYSE:AWK) last posted its earnings results on Wednesday, May 3rd. The utilities provider reported $0.52 EPS for the quarter, hitting analysts’ consensus estimates of $0.52. American Water Works Company had a net margin of 12.30% and a return on equity of 7.10%. The business had revenue of $756 million during the quarter, compared to the consensus estimate of $759.54 million. During the same quarter in the previous year, the firm posted $0.46 EPS. The firm’s revenue was up 1.7% on a year-over-year basis. Analysts anticipate that American Water Works Company Inc will post $3.03 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Friday, May 5th were given a $0.415 dividend. This represents a $1.66 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date was Wednesday, May 3rd. This is an increase from American Water Works Company’s previous quarterly dividend of $0.38. American Water Works Company’s payout ratio is 57.47%.

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Several brokerages have commented on AWK. HSBC Holdings plc downgraded American Water Works Company from a “buy” rating to a “hold” rating and set a $79.00 target price on the stock. in a report on Wednesday, March 15th. Zacks Investment Research downgraded American Water Works Company from a “buy” rating to a “hold” rating in a research note on Wednesday, March 15th. Vetr raised American Water Works Company from a “hold” rating to a “buy” rating and set a $82.36 price objective on the stock in a research note on Monday, May 1st. Northcoast Research started coverage on American Water Works Company in a research note on Thursday, May 25th. They issued a “neutral” rating on the stock. Finally, Robert W. Baird downgraded American Water Works Company from an “outperform” rating to a “neutral” rating and boosted their price objective for the company from $69.41 to $82.00 in a research note on Wednesday, April 26th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $82.60.

In other American Water Works Company news, SVP Loyd A. Warnock sold 1,263 shares of American Water Works Company stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $75.21, for a total value of $94,990.23. Following the completion of the sale, the senior vice president now owns 7,055 shares of the company’s stock, valued at approximately $530,606.55. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.32% of the company’s stock.

About American Water Works Company

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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