Mirae Asset Global Investments Co. Ltd. Increases Stock Position in American Water Works Company, Inc. $AWK

Key Points

• Mirae Asset Global Investments increased its stake in American Water Works by 8.1%, owning 26,599 shares valued at approximately $3.7 million as of the latest SEC filing.
• Several institutional investors, including Price T Rowe Associates and BROOKFIELD Corp ON, made significant adjustments to their holdings in American Water Works during the first quarter, contributing to institutional ownership of 86.58%.
• American Water Works recently announced a quarterly dividend of $0.8275 per share, equating to an annualized yield of 2.3%, and has projected FY 2025 earnings per share guidance between $5.700-$5.750.

Mirae Asset Global Investments Co. Ltd. raised its stake in shares of American Water Works Company, Inc. (NYSE:AWK - Free Report) by 8.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,599 shares of the utilities provider's stock after purchasing an additional 2,002 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in American Water Works were worth $3,700,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its stake in shares of American Water Works by 881.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,704,995 shares of the utilities provider's stock valued at $546,562,000 after purchasing an additional 3,327,352 shares during the period. Pictet Asset Management Holding SA boosted its stake in American Water Works by 24.1% during 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 acquiring an additional 878,951 shares during the last quarter. Groupama Asset Managment lifted its position in shares of American Water Works by 114.3% in the 1st quarter. Groupama Asset Managment now owns 1,505,106 shares of the utilities provider's stock worth $2,296,000 after buying an additional 802,639 shares during the last quarter. Nuveen LLC bought a new position in shares of American Water Works in the 1st quarter worth about $103,053,000. Finally, BROOKFIELD Corp ON lifted its position in shares of American Water Works by 2,486.6% in the 1st quarter. BROOKFIELD Corp ON now owns 571,080 shares of the utilities provider's stock worth $84,246,000 after buying an additional 549,002 shares during the last quarter. Institutional investors and hedge funds own 86.58% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AWK. UBS Group dropped 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. Wells Fargo & Company reduced their price objective on shares of American Water Works from $147.00 to $141.00 and set an "equal weight" rating for the company in a research report on Friday, August 1st. Mizuho raised 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. Weiss Ratings restated a "hold (c+)" rating on shares of American Water Works in a research report on Saturday, September 27th. Finally, Argus raised their target price on shares of American Water Works from $155.00 to $160.00 and gave the stock a "buy" rating in a report on Thursday, August 14th. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, American Water Works has an average rating of "Hold" and an average target price of $143.57.

American Water Works Stock Performance

AWK stock opened at $142.47 on Wednesday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.32 and a current ratio of 0.35. The stock has a market cap of $27.80 billion, a P/E ratio of 25.67, a P/E/G ratio of 3.29 and a beta of 0.70. The firm has a 50 day simple moving average of $140.89 and a 200 day simple moving average of $142.14. American Water Works Company, Inc. has a 52 week low of $118.74 and a 52 week high of $155.50.

American Water Works (NYSE:AWK - Get Free Report) last posted 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). The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.22 billion. American Water Works had a return on equity of 10.34% and a net margin of 21.91%.The business's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.42 earnings per share. American Water Works has set its FY 2025 guidance at 5.700-5.750 EPS. Research analysts anticipate that American Water Works Company, Inc. will post 5.71 earnings per share for the current fiscal year.

American Water Works Announces Dividend

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