Jupiter Asset Management Ltd. Sells 7,641 Shares of American Water Works Company, Inc. (NYSE:AWK)

Key Points

• Jupiter Asset Management Ltd. reduced its stake in American Water Works Company by 2.8%, now owning 260,477 shares valued at approximately $38.43 million.
• Several institutional investors have increased their holdings in American Water Works, with a cumulative 86.58% of the stock owned by institutions and hedge funds.
• American Water Works recently announced a quarterly dividend of $0.8275 per share, marking a dividend yield of 2.3% and is set for payment on September 3rd.

Jupiter Asset Management Ltd. trimmed its position in shares of American Water Works Company, Inc. (NYSE:AWK - Free Report) by 2.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 260,477 shares of the utilities provider's stock after selling 7,641 shares during the period. Jupiter Asset Management Ltd. owned 0.13% of American Water Works worth $38,426,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in American Water Works by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 4,671,050 shares of the utilities provider's stock worth $579,981,000 after purchasing an additional 106,857 shares in the last quarter. Pictet Asset Management Holding SA increased its holdings in shares of American Water Works by 24.1% in the 1st quarter. Pictet Asset Management Holding SA now owns 4,532,131 shares of the utilities provider's stock valued at $668,566,000 after purchasing an additional 878,951 shares during the period. Northern Trust Corp increased its holdings in shares of American Water Works by 11.1% in the 4th quarter. Northern Trust Corp now owns 3,357,726 shares of the utilities provider's stock valued at $418,003,000 after purchasing an additional 335,683 shares during the period. Invesco Ltd. increased its holdings in shares of American Water Works by 15.2% in the 4th quarter. Invesco Ltd. now owns 3,142,465 shares of the utilities provider's stock valued at $391,205,000 after purchasing an additional 414,568 shares during the period. Finally, Bank of America Corp DE increased its holdings in shares of American Water Works by 38.4% in the 4th quarter. Bank of America Corp DE now owns 2,695,734 shares of the utilities provider's stock valued at $335,592,000 after purchasing an additional 747,316 shares during the period. 86.58% of the stock is currently owned by hedge funds and other institutional investors.

American Water Works Stock Performance

AWK stock traded up $0.37 during midday trading on Wednesday, hitting $141.87. 1,699,023 shares of the company traded hands, compared to its average volume of 1,435,594. American Water Works Company, Inc. has a twelve month low of $118.74 and a twelve month high of $155.50. The company has a quick ratio of 0.32, a current ratio of 0.35 and a debt-to-equity ratio of 1.15. The business has a 50 day simple moving average of $141.28 and a 200-day simple moving average of $139.47. The stock has a market capitalization of $27.68 billion, a price-to-earnings ratio of 25.56, a price-to-earnings-growth ratio of 3.48 and a beta of 0.65.

American Water Works (NYSE:AWK - Get Free Report) last issued 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). The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.22 billion. American Water Works had a return on equity of 10.34% and a net margin of 21.91%. The firm's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the business earned $1.42 earnings per share. As a group, equities research analysts predict that American Water Works Company, Inc. will post 5.71 earnings per share for the current year.

American Water Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Tuesday, August 12th will be given a $0.8275 dividend. The ex-dividend date is Tuesday, August 12th. This represents a $3.31 annualized dividend and a yield of 2.3%. American Water Works's payout ratio is presently 59.64%.

Insider Transactions at American Water Works

In related news, CAO Melissa K. Wikle sold 2,825 shares of American Water Works stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $143.28, for a total value of $404,766.00. Following the completion of the transaction, the chief accounting officer directly owned 7,572 shares of the company's stock, valued at $1,084,916.16. The trade was a 27.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.11% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AWK. Evercore ISI upped their target price on American Water Works from $139.00 to $148.00 and gave the company an "in-line" rating in a report on Friday, May 2nd. UBS Group reiterated a "neutral" rating and issued a $156.00 target price (up previously from $154.00) on shares of American Water Works in a report on Friday, July 11th. Barclays dropped their target price on American Water Works from $138.00 to $128.00 and set an "underweight" rating on the stock in a report on Thursday, July 10th. Wall Street Zen downgraded American Water Works from a "hold" rating to a "sell" rating in a report on Wednesday, May 14th. Finally, Mizuho increased their price objective on American Water Works from $148.00 to $149.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Four analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $142.00.

American Water Works Company 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.