American Water Works (AWK) Shares Bought by Covington Capital Management

Covington Capital Management grew its stake in American Water Works (NYSE:AWK) by 2.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,542 shares of the utilities provider’s stock after purchasing an additional 1,150 shares during the quarter. Covington Capital Management’s holdings in American Water Works were worth $3,862,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. increased its position in American Water Works by 28.0% during the first quarter. Victory Capital Management Inc. now owns 24,243 shares of the utilities provider’s stock worth $1,885,000 after acquiring an additional 5,301 shares during the period. Van ECK Associates Corp increased its position in American Water Works by 18.0% during the first quarter. Van ECK Associates Corp now owns 1,548 shares of the utilities provider’s stock worth $120,000 after acquiring an additional 236 shares during the period. OppenheimerFunds Inc. increased its position in American Water Works by 33.3% during the first quarter. OppenheimerFunds Inc. now owns 197,514 shares of the utilities provider’s stock worth $15,361,000 after acquiring an additional 49,345 shares during the period. Wellington Management Group LLP increased its position in American Water Works by 89.3% during the first quarter. Wellington Management Group LLP now owns 67,064 shares of the utilities provider’s stock worth $5,216,000 after acquiring an additional 31,644 shares during the period. Finally, Teacher Retirement System of Texas increased its position in American Water Works by 37.5% during the first quarter. Teacher Retirement System of Texas now owns 68,711 shares of the utilities provider’s stock worth $5,344,000 after acquiring an additional 18,756 shares during the period. 79.77% of the stock is currently owned by institutional investors.

A number of equities analysts recently commented on AWK shares. BidaskClub raised shares of American Water Works from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. Zacks Investment Research raised shares of American Water Works from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a research report on Tuesday, July 11th. Boenning Scattergood reaffirmed a “hold” rating on shares of American Water Works in a research report on Friday, September 22nd. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $82.00 price target on shares of American Water Works in a research report on Sunday, October 1st. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $82.86.

American Water Works (NYSE:AWK) last announced its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.73 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.07). American Water Works had a net margin of 14.20% and a return on equity of 9.70%. The firm had revenue of $844.00 million for the quarter, compared to analysts’ expectations of $869.52 million. During the same period in the prior year, the business posted $0.77 EPS. The business’s quarterly revenue was up 2.1% compared to the same quarter last year.

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In other news, COO Walter Lynch sold 15,169 shares of the firm’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $82.00, for a total transaction of $1,243,858.00. Following the completion of the transaction, the chief operating officer now directly owns 111,171 shares in the company, valued at $9,116,022. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.34% of the stock is owned by company insiders.

American Water Works Profile

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.

Institutional Ownership by Quarter for American Water Works (NYSE:AWK)

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