Retirement Systems of Alabama Cuts Stock Holdings in American Water Works Company, Inc. (NYSE:AWK)

Retirement Systems of Alabama lowered its holdings in American Water Works Company, Inc. (NYSE:AWK) by 0.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 42,781 shares of the utilities provider’s stock after selling 196 shares during the quarter. Retirement Systems of Alabama’s holdings in American Water Works were worth $6,256,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Oddo BHF Asset Management Sas purchased a new stake in American Water Works during the third quarter worth $1,988,000. Franklin Resources Inc. lifted its stake in shares of American Water Works by 3.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,034,221 shares of the utilities provider’s stock worth $145,170,000 after purchasing an additional 29,961 shares during the last quarter. Synovus Financial Corp bought a new stake in American Water Works during the third quarter valued at about $221,000. Wilmington Savings Fund Society FSB grew its stake in American Water Works by 4.3% in the third quarter. Wilmington Savings Fund Society FSB now owns 54,677 shares of the utilities provider’s stock valued at $7,996,000 after purchasing an additional 2,269 shares during the last quarter. Finally, World Investment Advisors LLC bought a new position in American Water Works in the third quarter worth about $716,000. Hedge funds and other institutional investors own 86.58% of the company’s stock.

American Water Works Stock Performance

Shares of AWK opened at $124.43 on Thursday. The stock has a 50-day moving average of $135.71 and a two-hundred day moving average of $137.89. 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 stock has a market cap of $24.25 billion, a P/E ratio of 24.64, a P/E/G ratio of 3.03 and a beta of 0.70. American Water Works Company, Inc. has a one year low of $113.34 and a one year high of $150.68.

American Water Works Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Friday, February 7th will be given a $0.765 dividend. The ex-dividend date is Friday, February 7th. This represents a $3.06 dividend on an annualized basis and a yield of 2.46%. American Water Works’s dividend payout ratio is currently 60.59%.

Analyst Upgrades and Downgrades

AWK has been the topic of a number of recent analyst reports. Bank of America restated an “underperform” rating and issued a $140.00 price target on shares of American Water Works in a report 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 report on Thursday, September 19th. Jefferies Financial Group assumed coverage on American Water Works in a report on Monday, October 7th. They set an “underperform” rating and a $124.00 price objective for the company. Wolfe Research upgraded American Water Works to a “hold” rating in a research note on Wednesday, September 18th. Finally, UBS Group upgraded American Water Works from a “neutral” rating to a “buy” rating and increased their price target for the company from $151.00 to $155.00 in a research note on Tuesday, November 19th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $142.29.

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.