Assenagon Asset Management SA reduced its holdings in American Water Works Company, Inc. (NYSE:AWK – Free Report) by 93.4% during the second quarter, according to the company’s most recent filing with the Securities and Exchange Commission (SEC). The fund owned 60,952 shares of the utility company after selling 856,233 shares during the same period. Assenagon Asset Management SA’s holdings in American Water Works were worth $7,873,000, according to the company’s most recent filing with the Securities and Exchange Commission (SEC).

Other major investors have also recently changed their hold on the company. Ables Iannone Moore & Associates Inc. acquired a new stake in American Water Works in the fourth quarter valued at about $26,000. ORG Partners LLC acquired a new stake in shares of American Water Works in the second quarter valued at $30,000. Farmers & Merchants Investments Inc. increased its stake in American Water Works by 100.0% in the first quarter. Farmers & Merchants Investments Inc. now owns 254 shares of the utility company’s stock valued at $31,000 after acquiring an additional 127 shares during the same period. Tortoise Investment Management LLC increased its stake in American Water Works by 71.9% in the fourth quarter. Tortoise Investment Management LLC now owns 239 shares of the utility company’s stock valued at $32,000 after acquiring an additional 100 shares in the last quarter. Finally, Quarry LP acquired a new position in American Water Works in the fourth quarter valued at $34,000. Institutional investors own 86.58% of the company’s shares.

Performance of American Water Works shares

NYSE:AWK opened at $140.98 on Friday. The stock’s 50-day moving average price is $136.12 and its 200-day moving average price is $127.71. The stock has a market cap of $27.47 billion, a P/E ratio of 28.60, a PEG ratio of 3.44 and a beta of 0.67. American Water Works Company, Inc. has a 12-month low of $113.34 and a 12-month high of $149.00. The company has a current ratio of 0.64, a quick ratio of 0.79 and a debt-to-equity ratio of 1.24.

American Water Works (NYSE:AWK – Get Free Report) last released its quarterly earnings results on Wednesday, July 31. The utility provider reported earnings per share of $1.42 for the quarter, missing the consensus estimate of $1.47 by ($0.05). American Water Works had a return on equity of 9.60% and a net margin of 21.93%. The company posted revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.10 billion. In the same quarter last year, the company posted earnings per share of $1.44. The company’s revenue for the quarter increased 4.7% compared to the same quarter last year. Equities analysts forecast that American Water Works Company, Inc. will report earnings per share of $5.25 for the current fiscal year.

Dividend announcement from American Water Works

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Tuesday, August 13th will receive a dividend of $0.765 per share. The ex-dividend date is Tuesday, August 13th. This represents an annualized dividend of $3.06 and a dividend yield of 2.17%. American Water Works’ dividend payout ratio is 62.07%.

Wall Street analysts comment

Several research analysts have recently commented on AWK shares. UBS Group raised their price target on American Water Works from $124.00 to $139.00 and gave the stock a “neutral” rating in a research note on Monday, May 13th. Wells Fargo & Company downgraded shares of American Water Works from “equal weight” to “underweight” in a report on Wednesday, July 31st and raised their price target on the stock from $127.00 to $138.00. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, and two have given a buy rating. The company currently has a consensus rating of “Hold” and a consensus price target of $141.17, according to data from MarketBeat.com.

Read our latest stock report on AWK

Profile of American Water Works

(Free report)

American Water Works Company, Inc., through its subsidiaries, provides water and wastewater services in the United States. It provides water and wastewater services to approximately 1,700 communities in 14 states and serves approximately 3.5 million active customers. The company serves residential customers; commercial customers, including food and beverage operators, commercial real estate developers and owners, and energy providers; fire departments and private fire service customers; industrial customers, such as large manufacturers, mining and manufacturing operations; public agencies, including government buildings and other public facilities, such as schools and universities; and other utilities and municipal water and wastewater systems.

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