Stock Yards Bank & Trust Co. reduced its position in shares of American Water Works Company Inc (NYSE:AWK) by 1.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 139,626 shares of the utilities provider’s stock after selling 1,799 shares during the period. Stock Yards Bank & Trust Co. owned 0.08% of American Water Works worth $11,921,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. bought a new stake in shares of American Water Works in the first quarter valued at approximately $61,281,000. Magellan Asset Management Ltd grew its stake in American Water Works by 140.4% during the first quarter. Magellan Asset Management Ltd now owns 1,234,081 shares of the utilities provider’s stock valued at $101,355,000 after acquiring an additional 720,775 shares in the last quarter. Scout Investments Inc. grew its stake in American Water Works by 1,069.4% during the second quarter. Scout Investments Inc. now owns 476,025 shares of the utilities provider’s stock valued at $40,643,000 after acquiring an additional 435,317 shares in the last quarter. Water Asset Management LLC grew its stake in American Water Works by 123.5% during the first quarter. Water Asset Management LLC now owns 577,712 shares of the utilities provider’s stock valued at $47,447,000 after acquiring an additional 319,252 shares in the last quarter. Finally, Millennium Management LLC grew its stake in American Water Works by 455.2% during the fourth quarter. Millennium Management LLC now owns 286,625 shares of the utilities provider’s stock valued at $26,223,000 after acquiring an additional 235,001 shares in the last quarter. 83.87% of the stock is currently owned by institutional investors.
NYSE:AWK opened at $87.59 on Wednesday. American Water Works Company Inc has a 52 week low of $76.04 and a 52 week high of $92.37. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.28 and a quick ratio of 0.27. The firm has a market cap of $15.82 billion, a P/E ratio of 28.91, a PEG ratio of 3.43 and a beta of 0.16.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 4th. Shareholders of record on Friday, August 10th will be issued a $0.455 dividend. The ex-dividend date of this dividend is Thursday, August 9th. This represents a $1.82 annualized dividend and a yield of 2.08%. American Water Works’s dividend payout ratio (DPR) is presently 60.07%.
In other American Water Works news, SVP Loyd A. Warnock sold 2,870 shares of the company’s stock in a transaction on Thursday, May 24th. The shares were sold at an average price of $81.45, for a total value of $233,761.50. Following the completion of the transaction, the senior vice president now directly owns 14,410 shares in the company, valued at approximately $1,173,694.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.35% of the stock is currently owned by corporate insiders.
AWK has been the subject of several recent analyst reports. Zacks Investment Research raised shares of American Water Works from a “hold” rating to a “buy” rating and set a $98.00 price objective for the company in a research note on Monday, July 23rd. Argus reaffirmed a “buy” rating and set a $105.00 price objective on shares of American Water Works in a research note on Tuesday, May 8th. ValuEngine cut shares of American Water Works from a “buy” rating to a “hold” rating in a research note on Wednesday, May 16th. Finally, Boenning Scattergood reissued a “neutral” rating on shares of American Water Works in a research note on Thursday, June 28th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $89.79.
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. 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.
See Also: Short Selling
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