Maryland State Retirement & Pension System, a prominent institutional investor, has increased its holdings in American Water Works Company, Inc. (NYSE:AWK), according to recently disclosed information. During the second quarter of this year, Maryland State Retirement & Pension System purchased an additional 7,617 shares of the utilities provider’s stock, resulting in a growth of 3.6% for the company’s overall holdings in American Water Works.
With this acquisition, Maryland State Retirement & Pension System now possesses 220,458 shares of American Water Works stock. This constitutes approximately 0.7% of its total portfolio and positions American Water Works as the institution’s 28th largest holding. Based on the most recent SEC filing data available, Maryland State Retirement & Pension System’s stake in American Water Works is valued at about $31,470,000.
American Water Works is a leading water utility company that provides essential water and wastewater services across multiple states in the United States. The firm is known for its commitment to delivering safe and reliable water resources to millions of people nationwide.
In addition to the increase in holdings by Maryland State Retirement & Pension System, American Water Works recently declared a quarterly dividend to its shareholders. Shareholders who were recorded on August 8th received a dividend payment of $0.7075 per share on September 1st. With an annualized dividend payout ratio of 59.08%, this translates to a dividend yield of 2.04%.
Investors can expect consistency from American Water Works when it comes to dividends as the company has demonstrated financial stability and shareholder-friendly practices over time.
As we analyze these developments in context, it is evident that both Maryland State Retirement & Pension System’s decision to expand its position in American Water Works and the consistent dividend payouts offer reassurance regarding the attractiveness and long-term potential of investing in this utilities provider.
Please note that all information provided above is accurate as of September 17, 2023. For the most up-to-date information, investors are encouraged to review the company’s latest filings with the Securities & Exchange Commission.
American Water Works Company, Inc.
Updated on: 03/12/2023
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
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Institutional Investors and Research Reports: Analyzing American Water Works’ Performance and Potential Value
American Water Works Company, Inc. (AWK) has recently witnessed changes in its positions by various institutional investors and hedge funds. Gradient Investments LLC purchased a new position in the company during the first quarter, amounting to approximately $26,000. Similarly, TCTC Holdings LLC also invested around $26,000 in American Water Works in the first quarter. Clear Street Markets LLC bought a stake of about $28,000 during the fourth quarter while Grey Fox Wealth Advisors LLC purchased shares worth approximately $29,000 in the same period. Additionally, Spirit of America Management Corp NY added a new position of nearly $29,000 to its portfolio in American Water Works.
It is noteworthy that 84.99% of the stock is currently owned by institutional investors, indicating strong interest and confidence among this group. These investments highlight the potential perceived value of American Water Works and its future prospects.
In light of these developments, there has been growing attention from research reports analyzing American Water Works’ performance. Guggenheim reduced the target price on the company’s shares from $152.00 to $147.00 in a recent report released on July 7th. StockNews.com downgraded their rating from “hold” to “sell” on August 31st. However, Royal Bank of Canada reaffirmed an “outperform” rating with a price target of $169.00 on American Water Works shares in a separate research report.
Bank of America analysts also revised their price objective for American Water Works’ shares from $140.00 down to $139.00 on July 6th. As a result, one analyst has given a sell rating on the stock while two others suggest holding and one recommends buying it.
It is worth noting that Bloomberg.com data reveals that American Water Works currently holds an average rating of “Hold” with an average price target standing at around $153.83.
On Friday morning, American Water Works shares opened at $138.90. The company boasts a current ratio of 1.13 and a quick ratio of 1.07, indicating its ability to meet short-term obligations. With a debt-to-equity ratio of 1.20, the company’s financial structure seems stable. American Water Works holds a market capitalization of approximately $27.04 billion and trades with a price-earnings ratio of 29.00, reflecting investor confidence in the company’s earnings potential.
The stock has experienced volatility over the past year, ranging between $122.77 and $162.59 per share. As of September 17, 2023, it stands at its lower range boundary with concerns surrounding future performance.
In terms of financial results, American Water Works reported earnings per share (EPS) of $1.44 for the most recent quarter on July 27th. This surpassed the consensus estimate of $1.27 by an impressive $0.17 per share, signaling positive growth and profitability for the company.
American Water Works achieved a return on equity (ROE) of 10.31% and net margin of 22.08%. Additionally, their quarterly revenue reached $1.10 billion compared to the consensus estimate of $1.01 billion, representing an increase of 17.1% year-over-year.
Equities research analysts currently project that American Water Works Company, Inc.’s fiscal year will yield earnings per share (EPS) amounting to approximately 4.8.
In conclusion, American Water Works appears to be attracting interest from institutional investors due to its potential value and growth prospects, despite recent changes in their positions within the company’s stock holdings and diverse research reports analyzing its performance.
With ongoing fluctuations in its stock price and scrutiny from experts in the field, investors must carefully consider all available information before making investment decisions related to American Water Works Company’s shares.