Graypoint LLC Raises Stock Position in American Water Works Company, Inc. (NYSE:AWK)

Graypoint LLC grew its holdings in American Water Works Company, Inc. (NYSE:AWK) by 24.5% during the 2nd quarter, Holdings Channel.com reports. The fund owned 2,383 shares of the utilities provider’s stock after acquiring an additional 469 shares during the period. Graypoint LLC’s holdings in American Water Works were worth $308,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Ables Iannone Moore & Associates Inc. purchased a new position in American Water Works in the 4th quarter worth approximately $26,000. ORG Partners LLC purchased a new position in shares of American Water Works in the second quarter worth $30,000. Tortoise Investment Management LLC grew its stake in American Water Works by 71.9% during the fourth quarter. Tortoise Investment Management LLC now owns 239 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 100 shares in the last quarter. Farmers & Merchants Investments Inc. increased its holdings in American Water Works by 100.0% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 254 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 127 shares during the last quarter. Finally, Quarry LP purchased a new stake in American Water Works in the 4th quarter worth $34,000. Institutional investors own 86.58% of the company’s stock.

American Water Works Trading Up 0.9 %

AWK stock opened at $143.12 on Tuesday. The firm’s fifty day simple moving average is $138.70 and its two-hundred day simple moving average is $129.20. The stock has a market capitalization of $27.89 billion, a price-to-earnings ratio of 29.03, a price-to-earnings-growth ratio of 3.40 and a beta of 0.67. The company has a quick ratio of 0.58, a current ratio of 0.64 and a debt-to-equity ratio of 1.24. American Water Works Company, Inc. has a twelve month low of $113.34 and a twelve month high of $149.00.

American Water Works (NYSE:AWK) last posted its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.05). The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.10 billion. American Water Works had a return on equity of 9.60% and a net margin of 21.93%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the company earned $1.44 earnings per share. As a group, analysts anticipate that American Water Works Company, Inc. will post 5.26 earnings per share for the current year.

American Water Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Tuesday, August 13th will be issued a dividend of $0.765 per share. This represents a $3.06 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date is Tuesday, August 13th. American Water Works’s payout ratio is currently 62.07%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AWK. Wells Fargo & Company cut American Water Works from an “equal weight” rating to an “underweight” rating and lifted their target price for the stock from $127.00 to $138.00 in a report on Wednesday, July 31st. UBS Group upped their price objective on American Water Works from $124.00 to $139.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $141.17.

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.