The Manufacturers Life Insurance Company Acquires 24,826 Shares of American Water Works Company, Inc. (NYSE:AWK)

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The Manufacturers Life Insurance Company grew its holdings in American Water Works Company, Inc. (NYSE:AWK) by 13.8% in the third quarter, Holdings Channel reports. The firm owned 205,257 shares of the utilities provider’s stock after buying an additional 24,826 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in American Water Works were worth $29,738,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of AWK. Brookfield Asset Management Inc. bought a new stake in shares of American Water Works in the second quarter worth $227,091,000. Nordea Investment Management AB grew its holdings in shares of American Water Works by 84.3% in the second quarter. Nordea Investment Management AB now owns 2,239,400 shares of the utilities provider’s stock worth $282,556,000 after acquiring an additional 1,024,109 shares during the period. CIBC Private Wealth Group LLC grew its holdings in shares of American Water Works by 5,107.4% in the second quarter. CIBC Private Wealth Group LLC now owns 887,864 shares of the utilities provider’s stock worth $114,233,000 after acquiring an additional 870,814 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of American Water Works by 1,683.3% in the third quarter. Assenagon Asset Management S.A. now owns 377,125 shares of the utilities provider’s stock worth $54,638,000 after acquiring an additional 355,977 shares during the period. Finally, FIL Ltd grew its holdings in shares of American Water Works by 34.2% in the second quarter. FIL Ltd now owns 916,456 shares of the utilities provider’s stock worth $117,911,000 after acquiring an additional 233,537 shares during the period. 78.35% of the stock is owned by institutional investors and hedge funds.

NYSE:AWK opened at $157.71 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.85 and a debt-to-equity ratio of 1.47. The company has a market capitalization of $28.59 billion, a P/E ratio of 43.21, a P/E/G ratio of 5.26 and a beta of 0.20. American Water Works Company, Inc. has a 12 month low of $92.00 and a 12 month high of $172.56. The business’s 50-day moving average is $155.87 and its 200 day moving average is $140.15.

American Water Works (NYSE:AWK) last posted its earnings results on Monday, November 9th. The utilities provider reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.08. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.11 billion. American Water Works had a return on equity of 11.03% and a net margin of 17.63%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.33 earnings per share. On average, research analysts forecast that American Water Works Company, Inc. will post 3.89 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors of record on Tuesday, November 10th will be given a $0.55 dividend. The ex-dividend date of this dividend is Monday, November 9th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.39%. American Water Works’s dividend payout ratio is currently 60.94%.

In related news, SVP Cheryl Norton sold 609 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $143.78, for a total value of $87,562.02. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.30% of the stock is currently owned by insiders.

AWK has been the topic of several analyst reports. Janney Montgomery Scott downgraded American Water Works from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 13th. Wells Fargo & Company reiterated a “hold” rating on shares of American Water Works in a research report on Thursday, August 6th. HSBC upgraded American Water Works from a “hold” rating to a “buy” rating and set a $175.00 target price on the stock in a research report on Monday, November 9th. Zacks Investment Research upgraded American Water Works from a “hold” rating to a “buy” rating and set a $169.00 target price on the stock in a research report on Monday, November 9th. Finally, Barclays lifted their target price on American Water Works from $138.00 to $173.00 and gave the company an “equal weight” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $144.62.

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 16 states serving approximately 3.4 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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Institutional Ownership by Quarter for American Water Works (NYSE:AWK)

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