American Water Works (AWK) Shares Gap Up to $75.18
American Water Works (NYSE:AWK)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $74.98, but opened at $75.18. American Water Works shares last traded at $75.52, with a volume of 425,504 shares.
Several research firms have weighed in on AWK. Zacks Investment Research upgraded shares of American Water Works from a “sell” rating to a “hold” rating and set a $93.00 price objective on the stock in a research report on Friday, July 8th. Bank of America Corp. restated a “buy” rating on shares of American Water Works in a report on Tuesday, May 24th. Boenning Scattergood cut shares of American Water Works from an “outperform” rating to a “neutral” rating in a report on Monday, June 6th. Barclays PLC lowered their price target on shares of American Water Works from $87.00 to $81.00 and set an “overweight” rating on the stock in a report on Tuesday, September 6th. Finally, Vetr upgraded shares of American Water Works from a “buy” rating to a “strong-buy” rating and set a $90.33 price target on the stock in a report on Thursday, August 4th. Eight analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $78.26.
The stock’s 50 day moving average is $76.34 and its 200-day moving average is $75.19. The firm has a market capitalization of $13.37 billion, a price-to-earnings ratio of 27.41 and a beta of 0.16.
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American Water Works (NYSE:AWK) last posted its earnings results on Wednesday, August 3rd. The company reported $0.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.04. The company had revenue of $827 million for the quarter, compared to analyst estimates of $832.47 million. American Water Works had a net margin of 15.14% and a return on equity of 9.62%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the business posted $0.68 earnings per share. On average, equities research analysts forecast that American Water Works will post $2.83 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Monday, August 8th were issued a $0.375 dividend. The ex-dividend date was Thursday, August 4th. This represents a $1.50 annualized dividend and a yield of 2.00%. American Water Works’s dividend payout ratio (DPR) is presently 54.74%.
In other American Water Works news, COO Walter Lynch sold 6,514 shares of the stock in a transaction on Friday, August 19th. The shares were sold at an average price of $76.43, for a total value of $497,865.02. Following the sale, the chief operating officer now directly owns 91,389 shares in the company, valued at $6,984,861.27. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Mark F. Strauss sold 15,467 shares of the stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $76.08, for a total transaction of $1,176,729.36. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the company. State Street Corp raised its stake in American Water Works by 139.3% in the first quarter. State Street Corp now owns 9,472,712 shares of the company’s stock valued at $652,950,000 after buying an additional 5,514,095 shares during the period. Norges Bank bought a new stake in shares of American Water Works during the fourth quarter valued at about $117,369,000. BlackRock Fund Advisors increased its stake in shares of American Water Works by 55.3% in the first quarter. BlackRock Fund Advisors now owns 3,539,542 shares of the company’s stock valued at $243,981,000 after buying an additional 1,260,404 shares in the last quarter. Janus Capital Management LLC increased its stake in shares of American Water Works by 113.8% in the second quarter. Janus Capital Management LLC now owns 1,931,515 shares of the company’s stock valued at $163,232,000 after buying an additional 1,028,299 shares in the last quarter. Finally, Emerald Acquisition Ltd. bought a new stake in shares of American Water Works during the second quarter valued at about $43,971,000. Institutional investors own 83.02% of the company’s stock.
About American Water Works
American Water Works Company, Inc is a holding company. The Company is a water and wastewater utility company. The Company operates through two segments: the Regulated Businesses and the Market-Based Businesses. Its Regulated Businesses segment involves the ownership of subsidiaries that provide water and wastewater utility services to residential, commercial, industrial and other customers, including sale for resale and public authority customers.
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