American Water Works Company, Inc. $AWK Stake Lessened by ELCO Management Co. LLC

ELCO Management Co. LLC lessened its stake in American Water Works Company, Inc. (NYSE:AWK) by 11.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,426 shares of the utilities provider’s stock after selling 1,695 shares during the period. American Water Works comprises about 1.0% of ELCO Management Co. LLC’s investment portfolio, making the stock its 25th largest position. ELCO Management Co. LLC’s holdings in American Water Works were worth $1,868,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its holdings in 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 worth $546,562,000 after purchasing an additional 3,327,352 shares during the period. Pictet Asset Management Holding SA boosted its holdings in American Water Works by 24.1% in the first quarter. Pictet Asset Management Holding SA now owns 4,532,131 shares of the utilities provider’s stock worth $668,566,000 after purchasing an additional 878,951 shares during the period. Groupama Asset Managment boosted its holdings in American Water Works by 114.3% in the first quarter. Groupama Asset Managment now owns 1,505,106 shares of the utilities provider’s stock worth $2,296,000 after purchasing an additional 802,639 shares during the period. Nuveen LLC acquired a new position in American Water Works in the first quarter worth $103,053,000. Finally, BROOKFIELD Corp ON boosted its holdings in American Water Works by 2,486.6% in the first quarter. BROOKFIELD Corp ON now owns 571,080 shares of the utilities provider’s stock worth $84,246,000 after purchasing an additional 549,002 shares during the period. Institutional investors own 86.58% of the company’s stock.

American Water Works Stock Performance

AWK stock opened at $134.85 on Wednesday. The company has a market capitalization of $26.31 billion, a P/E ratio of 24.30, a PEG ratio of 3.31 and a beta of 0.70. The company has a 50-day simple moving average of $140.36 and a 200 day simple moving average of $141.95. American Water Works Company, Inc. has a fifty-two week low of $118.74 and a fifty-two week high of $155.50. The company has a quick ratio of 0.32, a current ratio of 0.35 and a debt-to-equity ratio of 1.15.

American Water Works (NYSE:AWK) last posted its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $1.48 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.05). The company had revenue of $1.28 billion during 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 period in the previous year, the company earned $1.42 EPS. Sell-side analysts predict that American Water Works Company, Inc. will post 5.71 earnings per share for the current fiscal year.

American Water Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 2nd. Investors of record on Thursday, November 13th will be issued a $0.8275 dividend. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $3.31 annualized dividend and a yield of 2.5%. American Water Works’s dividend payout ratio is presently 59.64%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wells Fargo & Company assumed coverage on shares of American Water Works in a report on Monday. They issued an “equal weight” rating and a $142.00 price objective for the company. TD Cowen assumed coverage on shares of American Water Works in a report on Thursday, October 16th. They issued a “hold” rating and a $155.00 price objective for the company. Mizuho set a $145.00 price objective on shares of American Water Works in a report on Tuesday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of American Water Works in a report on Wednesday, October 8th. Finally, UBS Group reduced their price target on shares of American Water Works from $156.00 to $151.00 and set a “neutral” rating for the company in a report on Tuesday, August 12th. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $145.38.

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.