Sumitomo Mitsui DS Asset Management Company Ltd Grows Position in American Water Works Company, Inc. $AWK

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in American Water Works by 19.5%, owning 103,670 shares valued at approximately $14.42 million after acquiring an additional 16,888 shares.
• American Water Works reported $1.48 earnings per share for the last quarter, missing the consensus estimate of $1.53, but had a revenue of $1.28 billion, exceeding expectations of $1.22 billion.
• The company announced a quarterly dividend of $0.8275, leading to an annualized dividend yield of 2.4% with a payout ratio of 59.64%.

Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in American Water Works Company, Inc. (NYSE:AWK - Free Report) by 19.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,670 shares of the utilities provider's stock after acquiring an additional 16,888 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd owned approximately 0.05% of American Water Works worth $14,422,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Cloud Capital Management LLC acquired a new stake in American Water Works during the 1st quarter worth approximately $29,000. WPG Advisers LLC acquired a new stake in American Water Works during the 1st quarter worth approximately $29,000. Flaharty Asset Management LLC acquired a new stake in American Water Works during the 1st quarter worth approximately $30,000. Capital A Wealth Management LLC acquired a new stake in American Water Works during the 4th quarter worth approximately $33,000. Finally, Wayfinding Financial LLC acquired a new stake in American Water Works during the 1st quarter worth approximately $48,000. 86.58% of the stock is currently owned by institutional investors and hedge funds.

American Water Works Trading Down 0.3%

Shares of NYSE:AWK traded down $0.37 during midday trading on Friday, hitting $135.02. 2,660,203 shares of the stock were exchanged, compared to its average volume of 999,788. The business's 50-day moving average price is $141.96 and its 200 day moving average price is $142.63. American Water Works Company, Inc. has a 12 month low of $118.74 and a 12 month high of $155.50. The stock has a market capitalization of $26.34 billion, a price-to-earnings ratio of 24.33, a P/E/G ratio of 3.20 and a beta of 0.69. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.32 and a current ratio of 0.35.

American Water Works (NYSE:AWK - Get Free Report) last announced its earnings results on Wednesday, July 30th. The utilities provider reported $1.48 EPS for the quarter, missing the consensus estimate of $1.53 by ($0.05). American Water Works had a net margin of 21.91% and a return on equity of 10.34%. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the previous year, the company earned $1.42 earnings per share. The business's revenue was up 11.1% on a year-over-year basis. American Water Works has set its FY 2025 guidance at 5.700-5.750 EPS. Analysts predict that American Water Works Company, Inc. will post 5.71 earnings per share for the current year.

American Water Works Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Tuesday, August 12th were issued a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Tuesday, August 12th. American Water Works's dividend payout ratio is presently 59.64%.

Analyst Ratings Changes

Several brokerages have commented on AWK. Wells Fargo & Company dropped their target price on shares of American Water Works from $147.00 to $141.00 and set an "equal weight" rating on the stock in a report on Friday, August 1st. Barclays dropped their target price on shares of American Water Works from $138.00 to $128.00 and set an "underweight" rating on the stock in a report on Thursday, July 10th. Argus lifted their price objective on shares of American Water Works from $155.00 to $160.00 and gave the company a "buy" rating in a report on Thursday, August 14th. Mizuho lifted their price objective on shares of American Water Works from $148.00 to $149.00 and gave the company a "neutral" rating in a report on Friday, August 1st. Finally, UBS Group lowered their price objective on shares of American Water Works from $156.00 to $151.00 and set a "neutral" rating on the stock in a report on Tuesday, August 12th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Reduce" and an average target price of $141.13.

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 3.5 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.