QRG Capital Management Inc. Boosts Stock Holdings in American Water Works Company, Inc. (NYSE:AWK)

QRG Capital Management Inc. increased its position in American Water Works Company, Inc. (NYSE:AWK - Free Report) by 50.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,209 shares of the utilities provider's stock after acquiring an additional 3,759 shares during the period. QRG Capital Management Inc.'s holdings in American Water Works were worth $1,654,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AWK. Sagespring Wealth Partners LLC purchased a new position in shares of American Water Works in the first quarter worth $234,000. Adero Partners LLC increased its holdings in American Water Works by 14.8% in the 1st quarter. Adero Partners LLC now owns 1,944 shares of the utilities provider's stock worth $287,000 after buying an additional 251 shares in the last quarter. Sowell Financial Services LLC purchased a new position in American Water Works in the 1st quarter worth about $852,000. Brown Miller Wealth Management LLC purchased a new position in American Water Works in the 1st quarter worth about $238,000. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in American Water Works by 2.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 124,352 shares of the utilities provider's stock valued at $18,344,000 after acquiring an additional 2,570 shares during the period. 86.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

AWK has been the subject of several research reports. Evercore ISI boosted 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. Wells Fargo & Company boosted 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. 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 cut American Water Works from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 25th. Finally, Barclays started coverage on American Water Works in a report on Tuesday, April 22nd. They issued an "underweight" rating and a $138.00 target price on the stock. Four analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $143.22.

American Water Works Stock Up 0.0%

NYSE AWK opened at $140.93 on Friday. 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 company has a market capitalization of $27.48 billion, a P/E ratio of 25.67, a price-to-earnings-growth ratio of 3.34 and a beta of 0.71. The stock's 50-day moving average price is $143.49 and its 200-day moving average price is $135.92.

American Water Works (NYSE:AWK - Get Free Report) last released its earnings results on Wednesday, April 30th. The utilities provider reported $1.05 EPS for the quarter, missing analysts' consensus estimates of $1.06 by ($0.01). American Water Works had a return on equity of 10.35% and a net margin of 22.24%. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the business posted $0.95 EPS. American Water Works's revenue was up 13.0% on a year-over-year basis. On average, equities research analysts predict that American Water Works Company, Inc. will post 5.71 earnings per share for the current year.

American Water Works Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 13th were paid a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend was Tuesday, May 13th. This is a positive change from American Water Works's previous quarterly dividend of $0.77. American Water Works's dividend payout ratio is presently 60.29%.

Insider Buying and Selling at American Water Works

In other American Water Works news, CAO Melissa K. Wikle sold 2,825 shares of the company's stock in a transaction that occurred on 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 now directly owns 7,572 shares in the company, valued at $1,084,916.16. This represents a 27.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.11% of the company's stock.

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.

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