Eastern Bank Makes New Investment in American Water Works Company, Inc. (NYSE:AWK)

Eastern Bank acquired a new stake in American Water Works Company, Inc. (NYSE:AWK) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,557 shares of the utilities provider’s stock, valued at approximately $374,000.

A number of other institutional investors have also recently added to or reduced their stakes in AWK. ORG Partners LLC purchased a new stake in shares of American Water Works during the 2nd quarter worth approximately $30,000. Farmers & Merchants Investments Inc. boosted its position in American Water Works by 100.0% during the first quarter. Farmers & Merchants Investments Inc. now owns 254 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 127 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in American Water Works in the first quarter valued at $41,000. Hantz Financial Services Inc. purchased a new position in shares of American Water Works in the second quarter valued at $46,000. Finally, Salomon & Ludwin LLC raised its stake in shares of American Water Works by 260.2% during the 1st quarter. Salomon & Ludwin LLC now owns 389 shares of the utilities provider’s stock worth $48,000 after buying an additional 281 shares during the last quarter. Hedge funds and other institutional investors own 86.58% of the company’s stock.

American Water Works Stock Performance

American Water Works stock opened at $142.12 on Thursday. The stock has a fifty day moving average price of $143.23 and a 200 day moving average price of $135.45. American Water Works Company, Inc. has a 52 week low of $113.34 and a 52 week high of $150.68. The firm has a market capitalization of $27.69 billion, a P/E ratio of 28.83, a PEG ratio of 3.28 and a beta of 0.69. The company has a current ratio of 0.64, a quick ratio of 0.58 and a debt-to-equity ratio of 1.24.

American Water Works (NYSE:AWK) last announced its quarterly earnings data 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 return on equity of 9.60% and a net margin of 21.93%. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the company earned $1.44 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis. Equities research analysts anticipate that American Water Works Company, Inc. will post 5.27 earnings per share for the current year.

American Water Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 13th were paid a dividend of $0.765 per share. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $3.06 annualized dividend and a dividend yield of 2.15%. American Water Works’s dividend payout ratio is presently 62.07%.

Insider Transactions at American Water Works

In related news, Director Martha Clark Goss sold 710 shares of American Water Works stock in a transaction on Tuesday, September 3rd. The stock was 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Mizuho cut shares of American Water Works from an “outperform” rating to a “neutral” rating and increased their price objective for the company from $131.00 to $140.00 in a research note on Tuesday, October 15th. Royal Bank of Canada reissued an “outperform” rating and set a $164.00 price objective on shares of American Water Works in a research note on Thursday, September 19th. Wolfe Research upgraded American Water Works to a “hold” rating in a report on Wednesday, September 18th. Wells Fargo & Company cut American Water Works from an “equal weight” rating to an “underweight” rating and boosted their price target for the stock from $127.00 to $138.00 in a report on Wednesday, July 31st. Finally, Bank of America reaffirmed an “underperform” rating and set a $140.00 price objective on shares of American Water Works in a research note on Friday, September 20th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $140.00.

American Water Works 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.