LPL Financial LLC Boosts Stock Position in American Water Works Company, Inc. (NYSE:AWK)

Key Points

• LPL Financial LLC increased its stake in American Water Works by 37.3% in the first quarter, owning approximately 349,963 shares valued at $51.6 million by the end of the quarter.
• Despite institutional investors owning 86.58% of the company's stock, a recent downgrade by Wall Street Zen changed its rating from "hold" to "sell," while the consensus target price for the stock is currently set at $141.67.
• American Water Works announced a $0.8275 quarterly dividend to be paid on September 3rd, with an annualized yield of 2.4% and a payout ratio of 59.64%.

LPL Financial LLC increased its position in American Water Works Company, Inc. (NYSE:AWK - Free Report) by 37.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 349,963 shares of the utilities provider's stock after acquiring an additional 94,987 shares during the quarter. LPL Financial LLC owned about 0.18% of American Water Works worth $51,627,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in shares of 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 valued at $579,981,000 after purchasing an additional 106,857 shares during the period. Pictet Asset Management Holding SA increased its stake in 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 worth $668,566,000 after buying an additional 878,951 shares in the last quarter. Northern Trust Corp raised its holdings in American Water Works by 11.1% during the fourth quarter. Northern Trust Corp now owns 3,357,726 shares of the utilities provider's stock valued at $418,003,000 after acquiring an additional 335,683 shares during the period. Invesco Ltd. lifted its position in shares of American Water Works by 15.2% in the fourth quarter. Invesco Ltd. now owns 3,142,465 shares of the utilities provider's stock valued at $391,205,000 after acquiring an additional 414,568 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of American Water Works by 38.4% in the fourth quarter. Bank of America Corp DE now owns 2,695,734 shares of the utilities provider's stock worth $335,592,000 after acquiring an additional 747,316 shares during the period. Institutional investors own 86.58% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Wall Street Zen downgraded American Water Works from a "hold" rating to a "sell" rating in a research note on Wednesday, May 14th. UBS Group reissued 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. Wells Fargo & Company raised their target price on shares of American Water Works from $142.00 to $147.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Barclays reduced their price target 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. Finally, Evercore ISI increased their price objective on shares of American Water Works from $139.00 to $148.00 and gave the company an "in-line" rating in a report on Friday, May 2nd. Four research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $141.67.

Insider Transactions at American Water Works

In other American Water Works news, CAO Melissa K. Wikle sold 2,825 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $143.28, for a total transaction of $404,766.00. Following the transaction, the chief accounting officer owned 7,572 shares in the company, 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 legal filing with the SEC, which is available at this link. 0.11% of the stock is currently owned by corporate insiders.

American Water Works Stock Performance

Shares of NYSE:AWK opened at $140.24 on Friday. The firm has a fifty day simple moving average of $141.20 and a two-hundred day simple moving average of $138.96. American Water Works Company, Inc. has a 52 week low of $118.74 and a 52 week high of $155.50. The company has a quick ratio of 0.44, a current ratio of 0.49 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $27.35 billion, a P/E ratio of 25.27, a PEG ratio of 3.30 and a beta of 0.69.

American Water Works (NYSE:AWK - Get Free Report) last released its quarterly 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 return on equity of 10.40% 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 in the prior year, the business posted $1.42 EPS. The company's revenue was up 11.1% on a year-over-year basis. On average, analysts expect that American Water Works Company, Inc. will post 5.71 earnings per share for the current fiscal year.

American Water Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors 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 dividend on an annualized basis and a yield of 2.4%. American Water Works's dividend payout ratio (DPR) is currently 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.