ING Groep NV cut its holdings in American Water Works Company, Inc. (NYSE:AWK – Free Report) by 60.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,761 shares of the utilities provider’s stock after selling 8,855 shares during the quarter. ING Groep NV’s holdings in American Water Works were worth $842,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. raised its position in American Water Works by 2.6% during the first quarter. Vanguard Group Inc. now owns 24,648,326 shares of the utilities provider’s stock worth $3,012,272,000 after acquiring an additional 624,977 shares during the period. Impax Asset Management Group plc lifted its stake in American Water Works by 3.7% in the 2nd quarter. Impax Asset Management Group plc now owns 6,902,257 shares of the utilities provider’s stock valued at $890,422,000 after buying an additional 247,745 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in American Water Works by 6.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,245,306 shares of the utilities provider’s stock valued at $328,354,000 after buying an additional 143,914 shares in the last quarter. Mirova US LLC lifted its stake in American Water Works by 2.1% in the 2nd quarter. Mirova US LLC now owns 1,588,109 shares of the utilities provider’s stock valued at $205,120,000 after buying an additional 32,764 shares in the last quarter. Finally, Wulff Hansen & CO. lifted its stake in American Water Works by 12,816.0% in the 2nd quarter. Wulff Hansen & CO. now owns 1,464,674 shares of the utilities provider’s stock valued at $189,177,000 after buying an additional 1,453,334 shares in the last quarter. 86.58% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts recently weighed in on the stock. Wolfe Research raised shares of American Water Works to a “hold” rating in a research note on Wednesday, September 18th. Bank of America reaffirmed an “underperform” rating and issued a $140.00 price target on shares of American Water Works in a research note on Friday, September 20th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $164.00 price target on shares of American Water Works in a research note on Thursday, September 19th. Jefferies Financial Group assumed coverage on shares of American Water Works in a research note on Monday, October 7th. They issued an “underperform” rating and a $124.00 price target on the stock. Finally, Wells Fargo & Company lowered shares of American Water Works from an “equal weight” rating to an “underweight” rating and raised their price target for the company from $127.00 to $138.00 in a research note on Wednesday, July 31st. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $140.00.
American Water Works Stock Up 1.7 %
AWK stock opened at $134.23 on Monday. The firm has a market cap of $26.16 billion, a PE ratio of 26.58, a PEG ratio of 3.12 and a beta of 0.70. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.53 and a current ratio of 0.58. The firm’s 50 day moving average price is $141.00 and its 200-day moving average price is $137.49. American Water Works Company, Inc. has a one year low of $113.34 and a one year high of $150.68.
American Water Works Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.765 per share. This represents a $3.06 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Tuesday, November 12th. American Water Works’s payout ratio is presently 60.59%.
Insider Activity
In other news, Director Martha Clark Goss sold 710 shares of American Water Works stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $142.85, for a total transaction of $101,423.50. Following the sale, the director now owns 36,880 shares of the company’s stock, valued at approximately $5,268,308. The trade was a 1.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.08% of the company’s stock.
American Water Works Company 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.
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