Granite Bay Wealth Management LLC Invests $1.30 Million in American Water Works Company, Inc. (NYSE:AWK)

Granite Bay Wealth Management LLC acquired a new position in shares of American Water Works Company, Inc. (NYSE:AWK) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 10,268 shares of the utilities provider’s stock, valued at approximately $1,295,000.

A number of other institutional investors also recently bought and sold shares of the company. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of American Water Works in the fourth quarter valued at $26,000. ORG Partners LLC purchased a new position in shares of American Water Works during the 2nd quarter worth about $30,000. Farmers & Merchants Investments Inc. boosted its position in shares of American Water Works by 100.0% in the first quarter. Farmers & Merchants Investments Inc. now owns 254 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 127 shares during the last quarter. Tortoise Investment Management LLC increased its position in American Water Works by 71.9% during the fourth quarter. Tortoise Investment Management LLC now owns 239 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 100 shares during the last quarter. Finally, Quarry LP purchased a new position in American Water Works during the fourth quarter worth approximately $34,000. 86.58% of the stock is currently owned by hedge funds and other institutional investors.

American Water Works Trading Up 0.9 %

NYSE:AWK opened at $146.25 on Tuesday. American Water Works Company, Inc. has a one year low of $113.34 and a one year high of $150.68. The business’s 50-day simple moving average is $143.86 and its 200 day simple moving average is $132.95. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.58 and a current ratio of 0.64. The stock has a market cap of $28.49 billion, a price-to-earnings ratio of 29.67, a price-to-earnings-growth ratio of 3.55 and a beta of 0.69.

American Water Works (NYSE:AWK) last released its earnings results on Wednesday, July 31st. The utilities provider reported $1.42 EPS 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 business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter last year, the company posted $1.44 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, sell-side analysts predict that American Water Works Company, Inc. will post 5.27 earnings per share for the current fiscal year.

American Water Works Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders 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 dividend yield of 2.09%. American Water Works’s payout ratio is 62.07%.

Insider Activity

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

Analyst Ratings Changes

AWK has been the subject of a number of research analyst reports. Wells Fargo & Company downgraded American Water Works from an “equal weight” rating to an “underweight” rating and upped their price objective for the stock from $127.00 to $138.00 in a report on Wednesday, July 31st. Bank of America reaffirmed an “underperform” rating and issued a $140.00 target price on shares of American Water Works in a research report on Friday, September 20th. Royal Bank of Canada reiterated an “outperform” rating and issued a $164.00 target price on shares of American Water Works in a research note on Thursday, September 19th. Finally, Wolfe Research upgraded American Water Works to a “hold” rating in a report on Wednesday, September 18th. 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, the company has an average rating of “Hold” and an average target price of $140.29.

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 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.