Resona Asset Management Co. Ltd. Has $9.15 Million Stake in American Water Works Company, Inc. $AWK

Key Points

• Resona Asset Management Co. Ltd. increased its holdings in American Water Works by 6.6%, purchasing an additional 3,867 shares to bring their total to 62,089 shares, valued at approximately $9.15 million.
• Insider trading activity was noted as CAO Melissa K. Wikle sold 2,825 shares at an average price of $143.28, resulting in a 27.17% decrease in her position.
• The company announced a quarterly dividend of $0.8275, which will be paid on September 3rd, reflecting a 2.3% yield based on an annualized payout of $3.31.

Resona Asset Management Co. Ltd. increased its holdings in American Water Works Company, Inc. (NYSE:AWK - Free Report) by 6.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,089 shares of the utilities provider's stock after buying an additional 3,867 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in American Water Works were worth $9,147,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Sumitomo Life Insurance Co. grew its holdings in American Water Works by 1.5% during the first quarter. Sumitomo Life Insurance Co. now owns 4,679 shares of the utilities provider's stock worth $690,000 after acquiring an additional 70 shares during the period. Sargent Investment Group LLC grew its stake in American Water Works by 2.6% during the 1st quarter. Sargent Investment Group LLC now owns 2,795 shares of the utilities provider's stock valued at $412,000 after acquiring an additional 70 shares in the last quarter. Private Trust Co. NA grew its position in American Water Works by 4.8% during the first quarter. Private Trust Co. NA now owns 1,607 shares of the utilities provider's stock valued at $237,000 after purchasing an additional 74 shares in the last quarter. Foundations Investment Advisors LLC increased its stake in shares of American Water Works by 5.0% in the first quarter. Foundations Investment Advisors LLC now owns 1,726 shares of the utilities provider's stock worth $255,000 after acquiring an additional 82 shares during the last quarter. Finally, Principal Securities Inc. increased its position in American Water Works by 1.4% in the 1st quarter. Principal Securities Inc. now owns 6,157 shares of the utilities provider's stock worth $908,000 after purchasing an additional 85 shares during the last quarter. Institutional investors and hedge funds own 86.58% of the company's stock.

Insiders Place Their Bets

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 sale, the chief accounting officer owned 7,572 shares in the company, valued at $1,084,916.16. This represents a 27.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.11% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Wells Fargo & Company cut their price target on shares of American Water Works from $147.00 to $141.00 and set an "equal weight" rating on the stock in a report on Friday, August 1st. Barclays reduced 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 research note on Thursday, July 10th. Wall Street Zen lowered shares of American Water Works from a "hold" rating to a "sell" rating in a report on Wednesday, May 14th. Evercore ISI increased their target price on American Water Works from $139.00 to $148.00 and gave the stock an "in-line" rating in a report on Friday, May 2nd. Finally, Argus lifted their price target on shares of American Water Works from $155.00 to $160.00 and gave the company a "buy" rating in a report on Thursday, August 14th. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus target price of $143.30.

American Water Works Stock Up 1.3%

Shares of AWK traded up $1.8370 during midday trading on Tuesday, hitting $144.4970. The stock had a trading volume of 223,603 shares, compared to its average volume of 1,425,622. The company has a 50 day simple moving average of $141.77 and a two-hundred day simple moving average of $140.77. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.35 and a quick ratio of 0.32. The firm has a market cap of $28.19 billion, a price-to-earnings ratio of 26.02, a price-to-earnings-growth ratio of 3.41 and a beta of 0.65. American Water Works Company, Inc. has a twelve month low of $118.74 and a twelve month high of $155.50.

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

American Water Works Announces Dividend

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 $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, August 12th. American Water Works's dividend payout ratio (DPR) is 59.64%.

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.