State Board of Administration of Florida Retirement System Reduces Stock Position in American Water Works Company, Inc. (NYSE:AWK)

State Board of Administration of Florida Retirement System reduced its position in shares of American Water Works Company, Inc. (NYSE:AWK) by 7.2% in the second quarter, HoldingsChannel.com reports. The firm owned 233,549 shares of the utilities provider’s stock after selling 18,100 shares during the period. State Board of Administration of Florida Retirement System’s holdings in American Water Works were worth $35,997,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Atlas Private Wealth Advisors bought a new position in American Water Works in the second quarter worth about $29,000. Selective Wealth Management Inc. bought a new position in American Water Works in the second quarter worth about $31,000. CSat Investment Advisory L.P. raised its stake in American Water Works by 59.2% in the first quarter. CSat Investment Advisory L.P. now owns 234 shares of the utilities provider’s stock worth $35,000 after buying an additional 87 shares in the last quarter. Tradition Wealth Management LLC bought a new position in American Water Works in the first quarter worth about $35,000. Finally, Berman Capital Advisors LLC raised its stake in American Water Works by 90.2% in the first quarter. Berman Capital Advisors LLC now owns 312 shares of the utilities provider’s stock worth $45,000 after buying an additional 148 shares in the last quarter. Institutional investors own 81.90% of the company’s stock.

Shares of AWK opened at $184.88 on Wednesday. The company has a market capitalization of $33.55 billion, a P/E ratio of 44.77, a price-to-earnings-growth ratio of 5.40 and a beta of 0.23. The company has a quick ratio of 0.89, a current ratio of 0.92 and a debt-to-equity ratio of 1.55. The firm has a 50 day moving average of $175.73 and a 200 day moving average of $160.35. American Water Works Company, Inc. has a twelve month low of $131.01 and a twelve month high of $189.35.

American Water Works (NYSE:AWK) last announced its quarterly earnings results on Sunday, August 1st. The utilities provider reported $1.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.06. American Water Works had a net margin of 19.26% and a return on equity of 11.42%. The company had revenue of $999.00 million during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the firm earned $0.97 earnings per share. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, sell-side analysts expect that American Water Works Company, Inc. will post 4.24 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 1st. Investors of record on Tuesday, August 10th were issued a $0.603 dividend. The ex-dividend date of this dividend was Monday, August 9th. This represents a $2.41 annualized dividend and a yield of 1.30%. This is a boost from American Water Works’s previous quarterly dividend of $0.60. American Water Works’s dividend payout ratio (DPR) is currently 61.79%.

A number of equities analysts recently issued reports on the stock. Barclays increased their price target on shares of American Water Works from $170.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 15th. Janney Montgomery Scott downgraded shares of American Water Works from a “buy” rating to a “neutral” rating and raised their target price for the company from $159.00 to $181.00 in a research note on Wednesday, August 4th. Argus raised shares of American Water Works from a “hold” rating to a “buy” rating and set a $205.00 target price for the company in a research note on Friday, August 6th. HSBC downgraded shares of American Water Works from a “buy” rating to a “hold” rating and raised their target price for the company from $181.00 to $190.00 in a research note on Wednesday, September 1st. They noted that the move was a valuation call. Finally, US Capital Advisors downgraded shares of American Water Works from an “overweight” rating to a “hold” rating in a research note on Friday, August 13th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $182.00.

About American Water Works

American Water Works Co, Inc engages in the provision of complementary water and wastewater services. It operates through the following segments: Regulated Businesses; Market-Based Businesses; and Other. The Regulated Businesses segment provides water and wastewater services to customers. The Market-Based Businesses segment is responsible for Military Services Group, Contract Operations Group, Homeowner Services Group, and Keystone Operations.

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

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