American Water Works Company, Inc. (NYSE:AWK) Shares Sold by 1ST Source Bank

1ST Source Bank trimmed its holdings in American Water Works Company, Inc. (NYSE:AWK) by 1.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,084 shares of the utilities provider’s stock after selling 325 shares during the period. 1ST Source Bank’s holdings in American Water Works were worth $2,465,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of American Water Works in the fourth quarter valued at about $26,000. ORG Partners LLC acquired a new stake in American Water Works during the second quarter worth about $30,000. Tortoise Investment Management LLC increased its position in American Water Works by 71.9% during the fourth quarter. Tortoise Investment Management LLC now owns 239 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 100 shares during the last quarter. Farmers & Merchants Investments Inc. increased its position in American Water Works by 100.0% during the first quarter. Farmers & Merchants Investments Inc. now owns 254 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 127 shares during the last quarter. Finally, Quarry LP acquired a new stake in American Water Works during the fourth quarter worth about $34,000. 86.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Martha Clark Goss sold 710 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $142.85, for a total value of $101,423.50. Following the completion of the transaction, the director now owns 36,880 shares of the company’s stock, valued at $5,268,308. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.08% of the company’s stock.

American Water Works Trading Up 0.7 %

Shares of AWK stock opened at $148.14 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.64 and a quick ratio of 0.58. The firm has a market cap of $28.86 billion, a PE ratio of 30.05, a price-to-earnings-growth ratio of 3.49 and a beta of 0.69. The company has a 50-day moving average of $141.76 and a two-hundred day moving average of $130.65. American Water Works Company, Inc. has a 1-year low of $113.34 and a 1-year high of $149.00.

American Water Works (NYSE:AWK) last announced its earnings results on Wednesday, July 31st. The utilities provider reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.05). The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.10 billion. American Water Works had a return on equity of 9.60% and a net margin of 21.93%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business earned $1.44 EPS. On average, analysts predict that American Water Works Company, Inc. will post 5.27 EPS for the current year.

American Water Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 13th were paid a $0.765 dividend. This represents a $3.06 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Tuesday, August 13th. American Water Works’s payout ratio is 62.07%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company cut shares of American Water Works from an “equal weight” rating to an “underweight” rating and raised their price objective for the stock from $127.00 to $138.00 in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $141.17.

About American Water Works

American Water Works Company, Inc, through its subsidiaries, provides water and wastewater services in the United States. It offers water and wastewater services to approximately 1,700 communities in 14 states serving approximately 3.5 million active customers. The company serves residential customers; commercial customers, including 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, such as schools and universities; and other utilities and community water and wastewater systems.