Covea Finance has made moves to increase its stake in the shares of American Water Works Company, Inc. This announcement, which was revealed in the company’s latest filing with the SEC, comes as no surprise. Covea Finance has previously showcased an interest in utility providers’ stocks and this new move is yet another indication of their investment pursuits.
According to reports, Covea Finance now owns about 236,516 shares of American Water Works Company stock following the acquisition of an additional 28,393 shares during the first quarter. This amount represents about 2% of Covea Finance’s portfolio and ranks as the 13th biggest holding in their current stock holding.
As of Covea Finance’s most recent filing with the SEC, this latest acquisition amounts to approximately $34,647,000. It’s clear that they have a keen interest in American Water Works Company and they look set to work closely with management teams from this provider to advance their investment value proposition further.
In other news related to American Water Works Company, Michael Marberry recently acquired 1,400 shares in a transaction worth over $199 thousand. Following this purchase, Marberry now directly owns 3,673 shares valued at $522k.
Studies have shown that after several transactions are made by insiders like Marberry then subsequently followed by institutional investors like Covea Finance; there is an increased likelihood that more individual investors will invest money into similar company stocks based on observed successes or trends.
Fortunately for Covea Finance and other investors interested in American Water Work Company stock presently trading around $145.76 share price currently moving within a range with an average price over the past fifty days at $146.81 per share and a previous two hundred-day moving average price point of $148.68 per unit; analysts predict there is a possible upswing coming since it falls within higher range purchase window levels without breaching new threshold limits.
As such developments evolve in the sector, it remains crucial for investors to stay informed and continually observe both insider and institutional investment trends to make informed decisions that power up aspirations towards wealth building.
Recent Changes in Holdings of American Water Works Stocks by Hedge Funds and Investors Spark Debate Among Analysts
American Water Works (NYSE:AWK) is a well-known utilities provider whose services of water and wastewater facilities serve an estimated 15 million people across the United States. As of late, a number of hedge funds and other institutional investors have recently modified their holdings of AWK shares, resulting in major changes to the company’s financial structure.
Commonwealth Equity Services LLC increased its position in American Water Works by 1.0% in the third quarter, now owning 104,429 shares which are valued at $13,592,000 after purchasing an additional 1,048 shares during the last quarter. Similarly, Guggenheim Capital LLC grew its position in AWK by 44.7% in Q3 and now owns 46,109 shares worth $6,001,000 after acquiring an additional 14,252 shares during that time frame.
Further still with LPL Financial LLC showing growth potential in Q4 with a rise of 7.0% which now has brought them to own 205,705 share worth $31,354,000 after acquiring an additional 13,506 shares within that specific period (Q4). In contrast to this Richard W Paul & Associates did not show much increase of stock value except for having bought new shares worth about $31k during Q4 alone whereas FourThought Financial Partners LLC purchased new AWK stock worth around $251k.
It has also been reported that despite these investments from hedge funds such as Guggenheim Capital and investors including Commonwealth Equity Services LLC into AWK many analysts seem divided on what may happen economically long-term for someone holding onto shares – with Royal Bank of Canada giving an “outperform” rating citing expectations for the company’s stock price to go up while Bank of America gave mixed signals with an increased price objective but previously having given a hold rating.
Despite this analyst speculation regarding the future economic benefits or drawbacks for investing in American Water Works (NYSE:AWK), insider knowledge has gravitated towards a positive outlook. On Thursday May 18th, Director Michael Marberry acquired 1,400 shares of the stock at $142.35 per share using around $199,290.00 and now owns a total of 3,673 shares of the company’s stock with an estimated worth of $522,851.55; Insiders now owning roughly 0.08% of the company’s stock.
Although American Water Works released quarterly earnings results on April 27th showing they missed analyst expectations by a narrow margin of ($0.01) earning only $.91 per share instead of the expected $.92 a share; their quarterly revenue for Q1 was up 11.4% from this time last year indicating that growth is still occurring within the company as it manages to turn over $938m this quarter compared to last year’s cumulative effort bringing in $844m just during Q1.
Lastly, In June American Water Works payed out its most recent quarterly dividend where Stockholders were given back dividends per share valued at $0.7075 which is an increase of $.01 compared to previous dividends. Due to this external investment and gain in company revenue alike – American Water Works exists in an economic climate that remains strong despite differing viewpoints among analysts with many looking positively towards its future investments and gains in revenue growth potential primarily as partisanship grows on environmental protection and water conservation across America – seeing AWK as a key player rather than asset liability which bodes well for those who continued investing into AWK from the very beginning demonstrating how they saw potential return on their choice earlier than others who may wait for clear signs to appear.AD