State Treasurer State of Michigan Has $4.552 Million Position in American Water Works Company Inc (AWK)

State Treasurer State of Michigan Has $4.552 Million Position in American Water Works Company Inc (AWK)

State Treasurer State of Michigan boosted its stake in shares of American Water Works Company Inc (NYSE:AWK) by 0.5% during the first quarter, Holdings Channel reports. The firm owned 58,528 shares of the utilities provider’s stock after buying an additional 300 shares during the period. State Treasurer State of Michigan’s holdings in American Water Works Company were worth $4,552,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of American Water Works Company by 4.0% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 29,152 shares of the utilities provider’s stock valued at $2,267,000 after buying an additional 1,121 shares during the period. Advisory Services Network LLC bought a new stake in American Water Works Company during the first quarter valued at $751,000. Canada Pension Plan Investment Board increased its stake in American Water Works Company by 38.2% in the first quarter. Canada Pension Plan Investment Board now owns 242,110 shares of the utilities provider’s stock valued at $18,829,000 after buying an additional 66,954 shares during the last quarter. Rockefeller Financial Services Inc. increased its stake in American Water Works Company by 1.3% in the first quarter. Rockefeller Financial Services Inc. now owns 641,246 shares of the utilities provider’s stock valued at $49,870,000 after buying an additional 7,935 shares during the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD increased its stake in American Water Works Company by 2.9% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 39,767 shares of the utilities provider’s stock valued at $3,092,000 after buying an additional 1,137 shares during the last quarter. 81.00% of the stock is owned by institutional investors.

Shares of American Water Works Company Inc (NYSE:AWK) traded up 1.28% during midday trading on Friday, reaching $76.65. 1,069,161 shares of the company’s stock were exchanged. American Water Works Company Inc has a 1-year low of $69.41 and a 1-year high of $85.24. The firm has a 50-day moving average of $78.17 and a 200-day moving average of $74.40. The company has a market capitalization of $13.66 billion, a PE ratio of 29.26 and a beta of 0.19.

American Water Works Company (NYSE:AWK) last issued its earnings results on Wednesday, May 3rd. The utilities provider reported $0.52 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.52. American Water Works Company had a return on equity of 9.85% and a net margin of 14.19%. The company earned $756 million during the quarter, compared to the consensus estimate of $759.54 million. During the same period in the previous year, the company posted $0.46 EPS. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. Equities analysts expect that American Water Works Company Inc will post $3.04 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Friday, May 5th will be paid a dividend of $0.415 per share. This is an increase from American Water Works Company’s previous quarterly dividend of $0.38. This represents a $1.66 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Wednesday, May 3rd. American Water Works Company’s payout ratio is currently 57.47%.

AWK has been the subject of several research analyst reports. Zacks Investment Research downgraded shares of American Water Works Company from a “buy” rating to a “hold” rating in a report on Wednesday, March 15th. Vetr raised shares of American Water Works Company from a “hold” rating to a “buy” rating and set a $80.29 price objective for the company in a report on Tuesday, March 7th. Robert W. Baird downgraded shares of American Water Works Company from an “outperform” rating to a “neutral” rating and upped their price objective for the stock from $69.41 to $82.00 in a report on Wednesday, April 26th. Hilliard Lyons raised shares of American Water Works Company from a “neutral” rating to a “buy” rating and set a $84.00 price objective for the company in a report on Tuesday, January 17th. Finally, Macquarie initiated coverage on shares of American Water Works Company in a report on Wednesday, January 18th. They issued a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $82.60.

In other news, SVP Mark F. Strauss sold 13,011 shares of American Water Works Company stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $77.57, for a total transaction of $1,009,263.27. Following the completion of the transaction, the senior vice president now directly owns 48,135 shares in the company, valued at approximately $3,733,831.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.32% of the company’s stock.

About American Water Works Company

American Water Works Company, Inc is a holding company for regulated and market-based subsidiaries throughout the United States and Ontario, Canada. The Company’s Regulated Businesses segment provides water and wastewater services as public utilities in 16 states in the United States as of December 31, 2016.

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