Osterweis Capital Management Inc. cut its holdings in shares of American Water Works (NYSE:AWK) by 2.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 300,557 shares of the utilities provider’s stock after selling 7,068 shares during the quarter. American Water Works accounts for approximately 1.8% of Osterweis Capital Management Inc.’s holdings, making the stock its 29th biggest holding. Osterweis Capital Management Inc. owned approximately 0.17% of American Water Works worth $23,429,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of AWK. Cornerstone Advisors Inc. increased its stake in shares of American Water Works by 349.5% in the second quarter. Cornerstone Advisors Inc. now owns 1,344 shares of the utilities provider’s stock worth $105,000 after buying an additional 1,045 shares during the period. Parallel Advisors LLC increased its position in American Water Works by 24.7% during the 1st quarter. Parallel Advisors LLC now owns 1,482 shares of the utilities provider’s stock valued at $115,000 after purchasing an additional 294 shares during the period. Pinebridge Investments L.P. purchased a new position in American Water Works during the 2nd quarter valued at $118,000. Van ECK Associates Corp increased its position in American Water Works by 18.0% during the 1st quarter. Van ECK Associates Corp now owns 1,548 shares of the utilities provider’s stock valued at $120,000 after purchasing an additional 236 shares during the period. Finally, Peddock Capital Advisors LLC purchased a new position in American Water Works during the 2nd quarter valued at $131,000. 79.63% of the stock is currently owned by institutional investors.
In other news, COO Walter Lynch sold 3,335 shares of American Water Works stock in a transaction dated 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 directly owns 94,702 shares of the company’s stock, valued at $7,770,299.10. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.34% of the company’s stock.
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AWK has been the topic of a number of research analyst reports. BidaskClub cut shares of American Water Works from a “buy” rating to a “hold” rating in a research note on Friday, June 30th. Zacks Investment Research upgraded shares of American Water Works from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a research note on Tuesday, July 11th. Boenning Scattergood reiterated a “hold” rating on shares of American Water Works in a research note on Friday, September 22nd. Finally, Robert W. Baird reissued a “hold” rating and issued a $82.00 target price on shares of American Water Works in a research report on Sunday, October 1st. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. American Water Works currently has an average rating of “Hold” and an average target price of $82.86.
American Water Works (NYSE AWK) traded up 1.07% during midday trading on Tuesday, reaching $86.12. 427,644 shares of the company traded hands. The firm has a 50-day moving average of $82.18 and a 200-day moving average of $79.99. The stock has a market capitalization of $15.35 billion, a P/E ratio of 32.51 and a beta of 0.25. American Water Works has a 1-year low of $69.41 and a 1-year high of $86.13.
American Water Works (NYSE:AWK) last issued its 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 firm had revenue of $844.00 million during the quarter, compared to analyst estimates of $869.52 million. American Water Works had a net margin of 14.20% and a return on equity of 9.70%. American Water Works’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.77 EPS. On average, analysts predict that American Water Works will post $3.00 earnings per share for the current year.
About American Water Works
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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