M&R Capital Management Inc. trimmed its position in American Water Works Company, Inc. (NYSE:AWK) by 15.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,450 shares of the utilities provider’s stock after selling 432 shares during the period. M&R Capital Management Inc.’s holdings in American Water Works were worth $367,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of AWK. Norges Bank bought a new stake in American Water Works in the 4th quarter valued at about $266,219,000. Vontobel Holding Ltd. bought a new stake in American Water Works during the 4th quarter worth approximately $53,104,000. Credit Suisse AG increased its holdings in American Water Works by 34.6% during the 4th quarter. Credit Suisse AG now owns 978,482 shares of the utilities provider’s stock worth $150,169,000 after purchasing an additional 251,600 shares in the last quarter. Lord Abbett & CO. LLC bought a new stake in American Water Works during the 4th quarter worth approximately $33,566,000. Finally, Robeco Institutional Asset Management B.V. increased its holdings in American Water Works by 55.6% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 568,375 shares of the utilities provider’s stock worth $87,228,000 after purchasing an additional 203,117 shares in the last quarter. 82.29% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently issued reports on AWK. Barclays upped their target price on American Water Works from $173.00 to $184.00 and gave the company an “equal weight” rating in a report on Friday, January 22nd. US Capital Advisors reaffirmed an “overweight” rating on shares of American Water Works in a report on Thursday, January 21st. Atlantic Securities assumed coverage on American Water Works in a report on Thursday, January 7th. They issued an “overweight” rating and a $173.00 target price for the company. Janney Montgomery Scott upgraded American Water Works from a “neutral” rating to a “buy” rating and set a $159.00 price objective on the stock in a research note on Thursday, March 4th. Finally, Bank of America upgraded American Water Works from an “underperform” rating to a “neutral” rating in a research note on Monday, December 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $152.70.
American Water Works (NYSE:AWK) last released its quarterly earnings results on Tuesday, February 23rd. The utilities provider reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. The firm had revenue of $923.00 million for the quarter, compared to analysts’ expectations of $925.50 million. American Water Works had a net margin of 17.63% and a return on equity of 11.03%. Sell-side analysts predict that American Water Works Company, Inc. will post 3.9 earnings per share for the current year.
About American Water Works
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 16 states serving approximately 3.5 million active customers. The company serves residential customers; commercial customers, such as 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.
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