American Water Works Company, Inc. $AWK Shares Acquired by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management increased its American Water Works stake by 442.6% in the third quarter, adding 990,012 shares to hold about 1.21 million shares worth $157.1 million.
• American Water Works reported quarterly EPS of $2.00, below the $2.04 consensus, and revenue of $1.51 billion, below estimates; revenue nevertheless rose 4.1% year over year.
• The company announced a quarterly dividend of $0.895 per share, equivalent to an annualized $3.58 and a 2.4% yield. Analysts’ consensus rating was “Hold,” with an average price target of $141.14.

Pictet Asset Management Holding SA raised its holdings in American Water Works Company, Inc. (NYSE:AWK - Free Report) by 442.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,213,669 shares of the utilities provider's stock after acquiring an additional 990,012 shares during the period. Pictet Asset Management Holding SA owned about 0.61% of American Water Works worth $157,134,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in American Water Works during the 2nd quarter worth approximately $2,712,173,000. Wellington Management Group LLP grew its stake in shares of American Water Works by 35.2% during the second quarter. Wellington Management Group LLP now owns 14,911,963 shares of the utilities provider's stock worth $1,962,116,000 after buying an additional 3,883,057 shares during the last quarter. GQG Partners LLC bought a new stake in shares of American Water Works during the second quarter worth $1,171,477,000. Amundi increased its holdings in shares of American Water Works by 4.3% during the first quarter. Amundi now owns 4,351,056 shares of the utilities provider's stock worth $592,081,000 after buying an additional 179,127 shares in the last quarter. Finally, Legal & General Group Plc acquired a new position in shares of American Water Works during the second quarter worth $443,787,000. Institutional investors own 86.58% of the company's stock.

American Water Works Stock Performance

NYSE AWK opened at $150.42 on Monday. The company has a market capitalization of $29.95 billion, a price-to-earnings ratio of 26.07, a PEG ratio of 3.06 and a beta of 0.56. American Water Works Company, Inc. has a twelve month low of $120.57 and a twelve month high of $153.69. The stock has a fifty day simple moving average of $136.74 and a 200 day simple moving average of $132.87. The company has a quick ratio of 0.36, a current ratio of 0.39 and a debt-to-equity ratio of 1.17.

American Water Works (NYSE:AWK - Get Free Report) last announced its earnings results on Wednesday, October 28th. The utilities provider reported $2.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.04 by ($0.04). American Water Works had a return on equity of 10.14% and a net margin of 21.26%. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the prior year, the business earned $1.94 earnings per share. The firm's revenue for the quarter was up 4.1% on a year-over-year basis. Sell-side analysts expect that American Water Works Company, Inc. will post 6.09 EPS for the current year.

American Water Works Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Thursday, November 12th will be given a dividend of $0.8950 per share. This represents a $3.58 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Thursday, November 12th. American Water Works's dividend payout ratio is currently 62.05%.

Analyst Ratings Changes

A number of research analysts have recently commented on AWK shares. Mizuho set a $149.00 price target on American Water Works in a research note on Friday, October 30th. Huntington cut American Water Works from an "outperform" rating to a "market perform" rating in a report on Thursday. UBS Group downgraded American Water Works from a "buy" rating to a "neutral" rating and increased their target price for the company from $153.00 to $162.00 in a research report on Friday. Bank of America reaffirmed a "neutral" rating on shares of American Water Works in a research note on Thursday, July 16th. Finally, Truist Financial set a $139.00 price objective on American Water Works in a research note on Tuesday, August 4th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $141.14.

American Water Works Profile

American Water Works Company, Inc is a U.S. water and wastewater utility that provides services to residential, commercial, industrial, and public-sector customers. Its operations include treating and distributing drinking water, collecting and treating wastewater, and maintaining the infrastructure needed to deliver those services.

The company operates regulated water and wastewater utilities across multiple states, serving communities in regions including the Northeast, Midwest, and South.

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