American Water Works Company
) continues to upgrade the existing utility infrastructure and
add new assets to its portfolio. The company recently announced
that its unit Virginia American Water will invest roughly $0.3
million to improve a water main at Foxchase Shopping Plaza in
Per the plan, Virginia American Water will replace its aging
1,200 feet long pipeline of 6 inch with a new 8 inch water main
at Foxchase. The company is expected to start the project on Oct
9, 2013. The project is scheduled to be completed within two
AMER WATER WORK (AWK): Free Stock Analysis
CONN WATER SVC (CTWS): Free Stock Analysis
CONSOLTD WATER (CWCO): Free Stock Analysis
SJW CORP (SJW): Free Stock Analysis Report
To read this article on Zacks.com click here.
The infrastructure upgrade will enable Virginia American Water to
enhance reliability of water supply and toughen the capability of
the systems. Further, this project will help to increase water
flow for firefighting activities in the locality.
As per the U.S. Environmental Protection Agency's report, the
U.S. utility providers need to invest $384 billion through 2030
for restoring as well as improving drinking water system. It is
evident from American Water Works' activities that it is strongly
following this guideline. On Sep 26, 2013, Pennsylvania American
Water, a subsidiary of the company, announced that it will spend
$1.2 million to replace the water main in East Pennsboro
American Water Works invested $0.43 billion under its capital
spending program during the first six months of 2013, primarily
for several growth projects. In 2013, the company plans to deploy
around $1 billion in different ventures to ensure the safety and
standard of operations.
American Water Works currently has a Zacks Rank #3 (Hold).
However, other water utilities that are currently performing well
Connecticut Water Service Inc.
Consolidated Water Co. Ltd.
), each with a Zacks Rank #1 (Strong Buy), and
) with a Zacks Rank #2 (Buy).