Korea Investment CORP, a sovereign wealth fund from South Korea, has recently decreased its position in American Water Works Company, Inc. According to its 13F filing with the Securities and Exchange Commission for the 1st quarter of this year, the fund sold 1,102 shares of the utilities provider’s stock, which amounted to a reduction of 0.7%. As a result, Korea Investment CORP now owns 157,112 shares of American Water Works, representing 0.08% of the company’s total worth at $23,015,000.
American Water Works is a prominent player in the utilities industry and is listed on the New York Stock Exchange under the ticker symbol NYSE:AWK. The company recently released its quarterly earnings report on July 27th. In this report, American Water Works announced an earnings per share (EPS) of $1.44 for the quarter, surpassing analysts’ consensus estimates by $0.17.
Furthermore, the utilities provider generated revenue amounting to $1.10 billion during this quarter, exceeding analyst estimates of $1.01 billion. This marked an impressive increase of 17.1% in revenue compared to the same period last year. Additionally, American Water Works achieved a return on equity (ROE) of 10.31% and a net margin of 22.08%.
The positive financial performance reported by American Water Works demonstrates its strong operational capabilities and effective management strategies within the utilities industry. With favorable EPS results and substantial revenue growth year over year, it is expected that American Water Works will continue to deliver strong financial performance throughout the current fiscal year.
Looking forward, analysts predict that American Water Works will post an EPS of approximately 4.79 for the full fiscal year. These projections indicate optimism surrounding American Water Work’s future prospects.
For investors interested in exploring further insights into American Water Works’ financial standing and strategic initiatives, our latest report on the company offers valuable information. It provides a comprehensive analysis of the utilities provider’s performance and outlines key factors that may impact its growth trajectory moving forward.
In conclusion, Korea Investment CORP’s recent reduction in its position in American Water Works Company, Inc. reflects the ever-evolving landscape of investment portfolios. However, American Water Works’ strong quarterly earnings report showcases its stability and potential for further growth within the utilities industry. Investors should closely monitor this company as it continues to navigate the market with its solid financial performance and strategic initiatives.
Changing Investor Landscape: American Water Works Sees Increase in Holdings by Vanguard, Impax, and Others
September 2, 2023
American Water Works Company, Inc. (NYSE: AWK) has recently seen a number of changes in its investor landscape. Notably, Vanguard Group Inc. increased its position in the company by 2.0% during the first quarter, now owning 21,960,717 shares of American Water Works stock valued at $3,635,157,000 after purchasing an additional 434,737 shares.
Another significant player in the market, Impax Asset Management Group plc, also raised its holdings in American Water Works by 17.3% during the first quarter. This move saw the group acquiring an additional 838,076 shares and now owning a total of 5,679,946 shares worth $831,219,000.
Similarly, Amundi increased its stake in shares of American Water Works by 11.5% during the fourth quarter of last year. The investment firm now possesses a total of 3,710,554 shares valued at $588,579,000 after buying an extra 382,239 shares.
Geode Capital Management LLC also entered the scene as they boosted their holdings by 2.3%, acquiring an additional 82,464 shares and bringing their total to 3,709,960 shares worth $564,451,000 during the fourth quarter.
Northern Trust Corp followed suit with a growth in its position by 2.6% during the first quarter. The corporation now owns a total of 3,470,141 shares valued at $574,412 after gaining an extra 87,
934 shares.
Considering these investments from various hedge funds and institutional investors account for approximately 84.99% ownership of American Water Works’ stock demonstrates their confidence and trust in this utilities provider.
On Friday morning NYSE opening on September second this year runs at $138.74 per share for American Water Works Company (AWK). The company’s stock has been trading between $122.77 and $162.59 over the course of the last year. With a fifty-day simple moving average of $142.68 and a two-hundred-day simple moving average of $144.48.
With a current ratio of 1.13 and a quick ratio of 1.07, American Water Works is seemingly well-positioned in terms of liquidity and solvency. The debt-to-equity ratio is reported to be at 1.20.
The market capitalization for American Water Works Company now stands at an impressive value of $27.01 billion, with a price-to-earnings (P/E) ratio sitting at 28.96 and a P/E/G (price-to-earnings growth) ratio at 3.58, indicating potential future growth for investors to consider.
Investors with vested interest in American Water Works should also take note that the company announced a quarterly dividend to be paid on Friday, September first this year. Shareholders on record as of Tuesday, August eighth will receive a dividend amounting to $0.7075 per share owned. This calculates to an annualized dividend payout of $2.83 per share, equating to a dividend yield of approximately 2.04%. Those wishing to benefit from the dividend must own shares prior to the ex-dividend date on Monday, August seventh.
While it’s essential for investors to stay informed about the company’s financials and operations, insights from analysts can also shape investment strategies.
Recent reports have highlighted mixed sentiments regarding American Water Works’ future prospects with StockNews.com recently downgrading their rating from “hold” to “sell.” Guggenheim also lowered their price objective from $152.00 to $147.00 in July this year.
Bank of America reduced their target price further down by one dollar from $140 to $139 around the same time, suggesting that the stock may face some challenges. However, it’s important to note that one analyst has issued a buy rating for the company.
Based on data from Bloomberg, the consensus rating for American Water Works stands at “Hold” with an average target price of $157.00 as of today.
These recent changes in investor positions highlight the dynamic nature of the stock market and underscore the importance of careful analysis before making any investment decisions. Investors should consider exercising patience and conducting thorough due diligence to make informed choices about their portfolios in this ever-changing landscape.
Disclaimer: This article is for informational purposes only and should not be construed as financial advice or a recommendation to buy or sell any securities. Always conduct your research and consult with a qualified financial advisor before making any investment decisions.