Lazard Asset Management LLC grew its position in American Water Works Company, Inc. (NYSE:AWK – Get Rating) by 131.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,528 shares of the utilities provider’s stock after buying an additional 1,434 shares during the quarter. Lazard Asset Management LLC’s holdings in American Water Works were worth $375,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also modified their holdings of the company. Arete Wealth Advisors LLC grew its stake in shares of American Water Works by 4.9% in the first quarter. Arete Wealth Advisors LLC now owns 1,494 shares of the utilities provider’s stock valued at $247,000 after buying an additional 70 shares in the last quarter. North Star Investment Management Corp. grew its stake in American Water Works by 9.5% during the 2nd quarter. North Star Investment Management Corp. now owns 809 shares of the utilities provider’s stock worth $120,000 after purchasing an additional 70 shares in the last quarter. Citizens Financial Group Inc RI grew its stake in American Water Works by 1.7% during the 1st quarter. Citizens Financial Group Inc RI now owns 4,367 shares of the utilities provider’s stock worth $723,000 after purchasing an additional 72 shares in the last quarter. IndexIQ Advisors LLC grew its stake in American Water Works by 1.6% during the 1st quarter. IndexIQ Advisors LLC now owns 4,555 shares of the utilities provider’s stock worth $755,000 after purchasing an additional 73 shares in the last quarter. Finally, Buckingham Strategic Wealth LLC grew its stake in American Water Works by 2.3% during the 1st quarter. Buckingham Strategic Wealth LLC now owns 3,341 shares of the utilities provider’s stock worth $553,000 after purchasing an additional 74 shares in the last quarter. 83.50% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research analysts recently commented on AWK shares. JPMorgan Chase & Co. raised American Water Works from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $162.00 to $165.00 in a research note on Friday, September 9th. HSBC lowered their target price on American Water Works to $158.00 in a research note on Tuesday, November 15th. Wells Fargo & Company boosted their target price on American Water Works from $140.00 to $149.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 2nd. StockNews.com started coverage on American Water Works in a report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, UBS Group lifted their price target on American Water Works to $151.00 in a report on Friday, November 4th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $153.00.
American Water Works Stock Up 2.7 %
American Water Works (NYSE:AWK – Get Rating) last posted its earnings results on Tuesday, November 1st. The utilities provider reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.12. American Water Works had a return on equity of 10.99% and a net margin of 34.58%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the business earned $1.53 EPS. The business’s quarterly revenue was down .9% on a year-over-year basis. Equities research analysts expect that American Water Works Company, Inc. will post 4.46 earnings per share for the current year.
American Water Works Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 8th will be issued a $0.655 dividend. This represents a $2.62 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Monday, November 7th. American Water Works’s payout ratio is currently 36.14%.
American Water Works Profile
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 3.4 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.
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