Envestnet Asset Management Inc. Reduces Position in American Water Works Company, Inc. $AWK

Envestnet Asset Management Inc. decreased its position in American Water Works Company, Inc. (NYSE:AWK) by 39.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 437,608 shares of the utilities provider’s stock after selling 289,905 shares during the period. Envestnet Asset Management Inc.’s holdings in American Water Works were worth $60,911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AWK. Ashton Thomas Private Wealth LLC acquired a new position in shares of American Water Works in the third quarter valued at about $232,000. Buck Wealth Strategies LLC increased its holdings in American Water Works by 2.9% in the 3rd quarter. Buck Wealth Strategies LLC now owns 38,147 shares of the utilities provider’s stock worth $5,310,000 after buying an additional 1,090 shares during the period. Atlantic Union Bankshares Corp raised its position in American Water Works by 803.1% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 289 shares of the utilities provider’s stock worth $40,000 after buying an additional 257 shares during the last quarter. Nicholson Wealth Management Group LLC lifted its stake in American Water Works by 6.1% during the 3rd quarter. Nicholson Wealth Management Group LLC now owns 12,145 shares of the utilities provider’s stock valued at $1,690,000 after acquiring an additional 700 shares during the period. Finally, AGF Management Ltd. boosted its holdings in shares of American Water Works by 4.4% in the 3rd quarter. AGF Management Ltd. now owns 22,587 shares of the utilities provider’s stock valued at $3,144,000 after acquiring an additional 949 shares during the last quarter. Institutional investors and hedge funds own 86.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AWK. Barclays decreased their target price on shares of American Water Works from $134.00 to $122.00 and set an “underweight” rating for the company in a research report on Wednesday, December 17th. Weiss Ratings restated a “hold (c)” rating on shares of American Water Works in a research note on Monday, December 29th. Jefferies Financial Group upgraded American Water Works from an “underperform” rating to a “hold” rating and lifted their price target for the company from $114.00 to $124.00 in a research report on Wednesday, November 5th. Wells Fargo & Company lowered their price objective on American Water Works from $142.00 to $126.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 20th. Finally, UBS Group set a $149.00 target price on shares of American Water Works in a report on Wednesday, December 17th. One research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $140.89.

American Water Works Trading Down 0.9%

Shares of NYSE:AWK opened at $123.20 on Tuesday. The business’s 50 day moving average price is $129.87 and its 200-day moving average price is $135.21. American Water Works Company, Inc. has a 1 year low of $121.28 and a 1 year high of $155.50. The firm has a market capitalization of $24.05 billion, a price-to-earnings ratio of 21.65, a price-to-earnings-growth ratio of 2.89 and a beta of 0.77. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.42 and a quick ratio of 0.39.

American Water Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 3rd. Investors of record on Tuesday, February 10th will be given a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Tuesday, February 10th. American Water Works’s dividend payout ratio is 58.17%.

About American Water Works

American Water Works Company, Inc (NYSE: AWK) is a publicly traded utility company that provides water and wastewater services in the United States. Its core business is the operation, management and maintenance of regulated water and wastewater systems that deliver potable water, collect and treat wastewater, and provide related customer services to residential, commercial and industrial customers as well as municipalities. The company’s operations include water treatment and distribution, wastewater collection and treatment, meter reading and billing, emergency repairs, and long-term infrastructure planning and capital project execution.

In addition to its regulated utility operations, American Water offers complementary nonregulated services and solutions that support system reliability and customer needs.