American Water Works (AWK) Now Covered by Robert W. Baird
Equities research analysts at Robert W. Baird assumed coverage on shares of American Water Works (NYSE:AWK) in a note issued to investors on Friday. The firm set an “outperform” rating and a $82.00 price target on the stock. Robert W. Baird’s price objective would suggest a potential upside of 14.27% from the stock’s previous close.
Several other equities analysts have also recently commented on AWK. 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. 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. Argus started coverage on shares of American Water Works in a report on Friday, June 24th. They set a “buy” rating and a $88.00 price target on the stock. Bank of America Corp. cut shares of American Water Works from a “buy” rating to a “neutral” rating and boosted their price target for the company from $71.92 to $88.00 in a report on Wednesday, July 6th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded shares of American Water Works from a “sell” rating to a “hold” rating and set a $93.00 price target on the stock in a report on Friday, July 8th. Seven equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $79.93.
Shares of American Water Works (NYSE:AWK) opened at 71.76 on Friday. The stock has a market capitalization of $12.77 billion, a price-to-earnings ratio of 26.17 and a beta of 0.17. American Water Works has a 12 month low of $55.13 and a 12 month high of $85.24. The stock’s 50 day moving average price is $74.12 and its 200-day moving average price is $75.76.
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American Water Works (NYSE:AWK) last announced its earnings results on Wednesday, August 3rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.04. American Water Works had a net margin of 15.14% and a return on equity of 9.62%. The company had revenue of $827 million for the quarter, compared to the consensus estimate of $832.47 million. During the same period in the previous year, the business earned $0.68 EPS. The company’s revenue was up 5.8% on a year-over-year basis. Equities analysts forecast that American Water Works will post $2.83 earnings per share for the current fiscal year.
In other American Water Works news, COO Walter Lynch sold 6,514 shares of the business’s stock in a transaction on Friday, August 19th. The shares were sold at an average price of $76.43, for a total transaction of $497,865.02. Following the completion of the transaction, the chief operating officer now owns 91,389 shares of the company’s stock, valued at approximately $6,984,861.27. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Mark F. Strauss sold 15,467 shares of the business’s 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. Company insiders own 0.32% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in American Water Works by 2.7% in the second quarter. Vanguard Group Inc. now owns 16,242,274 shares of the company’s stock worth $1,372,635,000 after buying an additional 424,954 shares in the last quarter. State Street Corp raised its position 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 worth $652,950,000 after buying an additional 5,514,095 shares in the last quarter. BlackRock Fund Advisors raised its position in American Water Works by 6.9% in the second quarter. BlackRock Fund Advisors now owns 3,785,408 shares of the company’s stock worth $319,905,000 after buying an additional 245,866 shares in the last quarter. Franklin Resources Inc. raised its position in American Water Works by 0.9% in the second quarter. Franklin Resources Inc. now owns 2,674,848 shares of the company’s stock worth $226,051,000 after buying an additional 24,225 shares in the last quarter. Finally, Janus Capital Management LLC raised its position in 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 worth $163,232,000 after buying an additional 1,028,299 shares in the last quarter. 82.62% of the stock is owned by hedge funds and other institutional investors.
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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