Envestnet Asset Management Inc. Purchases 60,186 Shares of A. O. Smith Corporation $AOS

Envestnet Asset Management Inc. raised its holdings in shares of A. O. Smith Corporation (NYSE:AOS) by 15.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 459,452 shares of the industrial products company’s stock after acquiring an additional 60,186 shares during the period. Envestnet Asset Management Inc. owned about 0.33% of A. O. Smith worth $33,728,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in AOS. Illumine Investment Management LLC boosted its stake in shares of A. O. Smith by 2.2% in the 3rd quarter. Illumine Investment Management LLC now owns 23,548 shares of the industrial products company’s stock valued at $1,729,000 after purchasing an additional 515 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in A. O. Smith by 20.0% in the third quarter. Jones Financial Companies Lllp now owns 6,536 shares of the industrial products company’s stock worth $474,000 after purchasing an additional 1,091 shares during the last quarter. State of Wyoming boosted its position in A. O. Smith by 38.7% during the third quarter. State of Wyoming now owns 9,462 shares of the industrial products company’s stock valued at $695,000 after buying an additional 2,640 shares during the period. Gitterman Wealth Management LLC grew its stake in shares of A. O. Smith by 127.2% during the third quarter. Gitterman Wealth Management LLC now owns 3,236 shares of the industrial products company’s stock valued at $238,000 after buying an additional 1,812 shares during the last quarter. Finally, Independent Advisor Alliance increased its holdings in shares of A. O. Smith by 9.0% in the third quarter. Independent Advisor Alliance now owns 9,202 shares of the industrial products company’s stock worth $676,000 after buying an additional 759 shares during the period. 76.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AOS has been the subject of several analyst reports. Wall Street Zen upgraded A. O. Smith from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Jefferies Financial Group set a $75.00 price objective on A. O. Smith and gave the company a “hold” rating in a research note on Friday, January 9th. Weiss Ratings restated a “hold (c)” rating on shares of A. O. Smith in a report on Wednesday, December 24th. Stifel Nicolaus set a $85.00 price target on shares of A. O. Smith and gave the company a “buy” rating in a report on Friday, January 30th. Finally, Citigroup reissued a “neutral” rating and issued a $78.00 price target (up previously from $72.00) on shares of A. O. Smith in a report on Friday, January 30th. Two investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $78.00.

A. O. Smith Trading Down 0.3%

NYSE:AOS opened at $80.21 on Thursday. The company has a 50-day moving average price of $70.80 and a 200-day moving average price of $70.13. The stock has a market cap of $11.17 billion, a price-to-earnings ratio of 20.78, a P/E/G ratio of 1.66 and a beta of 1.36. The company has a current ratio of 1.50, a quick ratio of 0.94 and a debt-to-equity ratio of 0.06. A. O. Smith Corporation has a 12 month low of $58.83 and a 12 month high of $81.53.

A. O. Smith (NYSE:AOS) last released its quarterly earnings results on Thursday, January 29th. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.06. The company had revenue of $912.50 million during the quarter, compared to the consensus estimate of $928.97 million. A. O. Smith had a net margin of 14.26% and a return on equity of 29.51%. A. O. Smith’s revenue was up .0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.85 earnings per share. Equities analysts predict that A. O. Smith Corporation will post 3.76 EPS for the current year.

A. O. Smith Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 17th. Stockholders of record on Friday, January 30th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, January 30th. A. O. Smith’s payout ratio is 37.31%.

A. O. Smith Profile

A. O. Smith Corporation, based in Milwaukee, Wisconsin, is a leading manufacturer of water heating and water treatment products for residential and commercial applications. Since its founding in 1874, the company has built a reputation for producing reliable, energy-efficient water heaters, boilers and pressure vessels. Its product portfolio encompasses gas, electric, condensing and tankless water heaters, as well as specialty boilers designed to meet a variety of building and industrial needs.

The company operates through two primary segments: North America and Asia.