Cidel Asset Management Inc. Purchases 1,905 Shares of American Water Works Company, Inc. $AWK

Key Points

• Cidel Asset Management Inc. increased its stake in American Water Works by 7.3%, acquiring an additional 1,905 shares, bringing its total holdings to 28,032 shares valued at $3.9 million.
• American Water Works announced a quarterly dividend of $0.8275 per share, resulting in an annualized dividend of $3.31 and a yield of 2.3%.
• Brokerage firm estimates vary, with Wells Fargo lowering its price target for American Water Works from $147 to $141, while Mizuho raised it slightly from $148 to $149, indicating a generally cautious outlook on the stock.

Cidel Asset Management Inc. grew its position in American Water Works Company, Inc. (NYSE:AWK - Free Report) by 7.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 28,032 shares of the utilities provider's stock after buying an additional 1,905 shares during the period. Cidel Asset Management Inc.'s holdings in American Water Works were worth $3,900,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in AWK. Sumitomo Life Insurance Co. lifted its position in American Water Works by 1.5% in the 1st quarter. Sumitomo Life Insurance Co. now owns 4,679 shares of the utilities provider's stock valued at $690,000 after acquiring an additional 70 shares in the last quarter. Sargent Investment Group LLC raised its stake in shares of American Water Works by 2.6% in the first quarter. Sargent Investment Group LLC now owns 2,795 shares of the utilities provider's stock worth $412,000 after purchasing an additional 70 shares during the last quarter. Private Trust Co. NA lifted its holdings in shares of American Water Works by 4.8% during the first quarter. Private Trust Co. NA now owns 1,607 shares of the utilities provider's stock valued at $237,000 after purchasing an additional 74 shares in the last quarter. Foundations Investment Advisors LLC boosted its position in shares of American Water Works by 5.0% during the first quarter. Foundations Investment Advisors LLC now owns 1,726 shares of the utilities provider's stock valued at $255,000 after buying an additional 82 shares during the last quarter. Finally, Principal Securities Inc. increased its holdings in American Water Works by 1.4% in the 1st quarter. Principal Securities Inc. now owns 6,157 shares of the utilities provider's stock worth $908,000 after buying an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 86.58% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AWK. Wells Fargo & Company dropped their price target 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. Mizuho increased their price objective on shares of American Water Works from $148.00 to $149.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. Cowen initiated coverage on shares of American Water Works in a research report on Wednesday. They issued a "hold" rating for the company. Weiss Ratings reiterated a "hold (c+)" rating on shares of American Water Works in a research note on Wednesday, October 8th. Finally, Barclays dropped their price target on American Water Works from $138.00 to $128.00 and set an "underweight" rating on the stock in a research note on Thursday, July 10th. One research analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, American Water Works currently has an average rating of "Hold" and an average target price of $145.00.

American Water Works Stock Up 0.6%

AWK opened at $144.02 on Friday. The firm's 50 day simple moving average is $140.68 and its two-hundred day simple moving average is $142.03. The company has a market capitalization of $28.10 billion, a PE ratio of 25.95, a PEG ratio of 3.45 and a beta of 0.70. American Water Works Company, Inc. has a 1-year low of $118.74 and a 1-year high of $155.50. The company has a current ratio of 0.35, a quick ratio of 0.32 and a debt-to-equity ratio of 1.15.

American Water Works (NYSE:AWK - Get Free Report) last posted its quarterly earnings data 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 return on equity of 10.34% and a net margin of 21.91%.The company had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.22 billion. During the same quarter last year, the company earned $1.42 earnings per share. The company's revenue for the quarter 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. As a group, equities analysts forecast that American Water Works Company, Inc. will post 5.71 EPS for the current year.

American Water Works Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Tuesday, August 12th were given a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Tuesday, August 12th. American Water Works's payout ratio is presently 59.64%.

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.

Want to see what other hedge funds are holding AWK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Water Works Company, Inc. (NYSE:AWK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.