Nuveen LLC Purchases New Position in American Water Works Company, Inc. (NYSE:AWK)

Key Points

• Nuveen LLC has acquired a new stake in American Water Works Company, Inc. by purchasing 698,570 shares valued at approximately $103 million, representing 0.36% ownership in the company.
• American Water Works recently announced a quarterly dividend of $0.8275 per share, which yields 2.3%, with an ex-dividend date set for August 12.
• Analysts have mixed views on the stock, with Barclays and Wells Fargo lowering their price targets while Evercore ISI and Mizuho raised theirs, giving American Water Works a consensus rating of "Hold" and an average price target of $141.44.

Nuveen LLC purchased a new position in shares of American Water Works Company, Inc. (NYSE:AWK - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 698,570 shares of the utilities provider's stock, valued at approximately $103,053,000. Nuveen LLC owned about 0.36% of American Water Works at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in AWK. Pictet Asset Management Holding SA increased its holdings 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 valued at $668,566,000 after purchasing an additional 878,951 shares during the last quarter. Bank of America Corp DE increased its holdings in 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 last quarter. GAMMA Investing LLC increased its holdings in American Water Works by 20,534.0% in the 1st quarter. GAMMA Investing LLC now owns 615,306 shares of the utilities provider's stock valued at $90,770,000 after purchasing an additional 612,324 shares during the last quarter. ASR Vermogensbeheer N.V. acquired a new stake in American Water Works in the 1st quarter valued at approximately $64,870,000. Finally, First Trust Advisors LP increased its holdings in American Water Works by 55.9% in the 4th quarter. First Trust Advisors LP now owns 980,596 shares of the utilities provider's stock valued at $122,074,000 after purchasing an additional 351,533 shares during the last quarter. Institutional investors and hedge funds own 86.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Argus lifted their target price on shares of American Water Works from $155.00 to $160.00 and gave the company a "buy" rating in a report on Thursday. Wall Street Zen downgraded shares of American Water Works from a "hold" rating to a "sell" rating in a report on Wednesday, May 14th. Barclays dropped their target price on shares of American Water Works from $138.00 to $128.00 and set an "underweight" rating for the company in a report on Thursday, July 10th. Evercore ISI raised their price target on shares of American Water Works from $139.00 to $148.00 and gave the company an "in-line" rating in a research report on Friday, May 2nd. Finally, 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 for the company in a research note on Friday, August 1st. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, American Water Works currently has a consensus rating of "Hold" and a consensus price target of $143.30.

Insider Activity

In other news, CAO Melissa K. Wikle sold 2,825 shares of American Water Works 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 completion of the sale, the chief accounting officer directly owned 7,572 shares of the company's stock, valued at approximately $1,084,916.16. The trade was a 27.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.11% of the company's stock.

American Water Works Stock Up 0.3%

Shares of NYSE:AWK traded up $0.38 during trading on Friday, hitting $143.79. The company's stock had a trading volume of 923,760 shares, compared to its average volume of 1,674,240. The business has a 50 day moving average price of $141.71 and a two-hundred day moving average price of $140.52. The company has a market capitalization of $28.05 billion, a PE ratio of 25.91, a P/E/G ratio of 3.41 and a beta of 0.65. 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 Company, Inc. has a fifty-two week low of $118.74 and a fifty-two week high of $155.50.

American Water Works (NYSE:AWK - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.05). The firm had revenue of $1.28 billion for the quarter, compared to analysts' expectations of $1.22 billion. American Water Works had a return on equity of 10.34% and a net margin of 21.91%. American Water Works's revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the firm posted $1.42 earnings per share. As a group, research analysts expect that American Water Works Company, Inc. will post 5.71 EPS for the current fiscal year.

American Water Works Dividend Announcement

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

About American Water Works

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.