Gabelli Funds LLC Lowers Stake in American Water Works Company, Inc. (NYSE:AWK)

Gabelli Funds LLC lessened its holdings in American Water Works Company, Inc. (NYSE:AWK) by 1.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 128,456 shares of the utilities provider’s stock after selling 1,444 shares during the quarter. Gabelli Funds LLC owned about 0.07% of American Water Works worth $16,591,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of American Water Works in the 4th quarter worth approximately $26,000. ORG Partners LLC bought a new stake in American Water Works in the second quarter worth $30,000. Tortoise Investment Management LLC grew its stake in shares of American Water Works by 71.9% in the fourth quarter. Tortoise Investment Management LLC now owns 239 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 100 shares during the last quarter. Farmers & Merchants Investments Inc. increased its holdings in shares of American Water Works by 100.0% during the first quarter. Farmers & Merchants Investments Inc. now owns 254 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 127 shares in the last quarter. Finally, Quarry LP purchased a new position in shares of American Water Works in the 4th quarter worth about $34,000. Institutional investors own 86.58% of the company’s stock.

American Water Works Stock Down 1.2 %

Shares of American Water Works stock opened at $147.23 on Monday. American Water Works Company, Inc. has a twelve month low of $113.34 and a twelve month high of $150.68. The company has a quick ratio of 0.58, a current ratio of 0.64 and a debt-to-equity ratio of 1.24. The company’s 50 day moving average is $143.28 and its 200 day moving average is $131.85. The company has a market cap of $28.68 billion, a price-to-earnings ratio of 29.86, a price-to-earnings-growth ratio of 3.49 and a beta of 0.69.

American Water Works (NYSE:AWK) last released its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.05). American Water Works had a net margin of 21.93% and a return on equity of 9.60%. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the previous year, the company earned $1.44 earnings per share. American Water Works’s quarterly revenue was up 4.7% compared to the same quarter last year. Research analysts anticipate that American Water Works Company, Inc. will post 5.27 EPS for the current year.

American Water Works Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Tuesday, August 13th were given a $0.765 dividend. The ex-dividend date was Tuesday, August 13th. This represents a $3.06 annualized dividend and a yield of 2.08%. American Water Works’s payout ratio is 62.07%.

Insider Buying and Selling at American Water Works

In other news, Director Martha Clark Goss sold 710 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $142.85, for a total value of $101,423.50. Following the transaction, the director now owns 36,880 shares in the company, valued at approximately $5,268,308. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on AWK shares. Bank of America reissued an “underperform” rating and set a $140.00 price objective on shares of American Water Works in a research report on Friday. Royal Bank of Canada reiterated an “outperform” rating and set a $164.00 price target on shares of American Water Works in a report on Thursday. Wolfe Research upgraded shares of American Water Works to a “hold” rating in a report on Wednesday, September 18th. Finally, Wells Fargo & Company cut American Water Works from an “equal weight” rating to an “underweight” rating and upped their price objective for the company from $127.00 to $138.00 in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, American Water Works currently has an average rating of “Hold” and a consensus target price of $140.29.

American Water Works Company 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 14 states serving approximately 3.5 million active customers. The company serves residential customers; commercial customers, including 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.