American Water Works (NYSE:AWK) Position Reduced by Friedberg Investment Management

Friedberg Investment Management reduced its position in American Water Works (NYSE:AWK) by 5.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 40,684 shares of the utilities provider’s stock after selling 2,354 shares during the period. Friedberg Investment Management’s holdings in American Water Works were worth $3,171,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of American Water Works by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 18,185,767 shares of the utilities provider’s stock valued at $1,417,580,000 after purchasing an additional 465,748 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of American Water Works by 1,423.2% in the 1st quarter. BlackRock Inc. now owns 14,519,771 shares of the utilities provider’s stock valued at $1,129,202,000 after purchasing an additional 13,566,529 shares during the last quarter. Pictet Asset Management Ltd. lifted its holdings in shares of American Water Works by 3.2% in the 2nd quarter. Pictet Asset Management Ltd. now owns 4,004,935 shares of the utilities provider’s stock valued at $313,105,000 after purchasing an additional 125,587 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of American Water Works by 0.5% in the 2nd quarter. Franklin Resources Inc. now owns 2,680,122 shares of the utilities provider’s stock valued at $208,915,000 after purchasing an additional 12,280 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of American Water Works by 11.0% in the 2nd quarter. Wells Fargo & Company MN now owns 2,532,449 shares of the utilities provider’s stock valued at $197,405,000 after purchasing an additional 251,271 shares during the last quarter. 79.63% of the stock is owned by institutional investors and hedge funds.

AWK has been the subject of several research reports. BidaskClub downgraded American Water Works from a “buy” rating to a “hold” rating in a report on Friday, June 30th. Zacks Investment Research raised American Water Works from a “hold” rating to a “buy” rating and set a $87.00 price objective for the company in a research note on Tuesday, July 11th. Boenning Scattergood reaffirmed a “hold” rating on shares of American Water Works in a research note on Friday, September 22nd. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $82.00 price objective on shares of American Water Works in a research note on Sunday, October 1st. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. American Water Works currently has a consensus rating of “Hold” and an average price target of $82.86.

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American Water Works (NYSE AWK) traded up 0.61% during trading on Tuesday, reaching $85.73. The company’s stock had a trading volume of 299,059 shares. The stock has a market capitalization of $15.28 billion, a price-to-earnings ratio of 32.36 and a beta of 0.25. The firm has a 50 day moving average of $82.18 and a 200 day moving average of $79.99. American Water Works has a 52 week low of $69.41 and a 52 week high of $85.88.

American Water Works (NYSE:AWK) last released its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.73 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.07). The business had revenue of $844.00 million for the quarter, compared to the consensus estimate of $869.52 million. American Water Works had a net margin of 14.20% and a return on equity of 9.70%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm posted $0.77 EPS. Analysts expect that American Water Works will post $3.00 EPS for the current year.

In other news, COO Walter Lynch sold 3,335 shares of American Water Works stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $82.05, for a total transaction of $273,636.75. Following the sale, the chief operating officer now owns 94,702 shares of the company’s stock, valued at $7,770,299.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.34% of the company’s stock.

American Water Works Company Profile

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.

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

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