SouthState Corp Cuts Holdings in American Water Works Company, Inc. (NYSE:AWK)

SouthState Corp trimmed its position in American Water Works Company, Inc. (NYSE:AWK) by 2.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,388 shares of the utilities provider’s stock after selling 100 shares during the period. SouthState Corp’s holdings in American Water Works were worth $495,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Lake Street Advisors Group LLC boosted its stake in American Water Works by 4.2% in the third quarter. Lake Street Advisors Group LLC now owns 1,858 shares of the utilities provider’s stock valued at $272,000 after acquiring an additional 75 shares in the last quarter. Miracle Mile Advisors LLC lifted its stake in shares of American Water Works by 2.9% during the third quarter. Miracle Mile Advisors LLC now owns 2,790 shares of the utilities provider’s stock worth $408,000 after buying an additional 79 shares during the period. Invesco LLC lifted its stake in shares of American Water Works by 3.4% during the third quarter. Invesco LLC now owns 2,467 shares of the utilities provider’s stock worth $361,000 after buying an additional 82 shares during the period. Asset Dedication LLC lifted its stake in shares of American Water Works by 1.6% during the second quarter. Asset Dedication LLC now owns 5,415 shares of the utilities provider’s stock worth $699,000 after buying an additional 85 shares during the period. Finally, Moody National Bank Trust Division lifted its stake in shares of American Water Works by 2.0% during the second quarter. Moody National Bank Trust Division now owns 4,590 shares of the utilities provider’s stock worth $593,000 after buying an additional 88 shares during the period. 86.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Wells Fargo & Company downgraded shares of American Water Works from an “equal weight” rating to an “underweight” rating and boosted their target price for the company from $127.00 to $138.00 in a research report on Wednesday, July 31st. Royal Bank of Canada restated an “outperform” rating and set a $164.00 target price on shares of American Water Works in a research report on Thursday, September 19th. Mizuho downgraded shares of American Water Works from an “outperform” rating to a “neutral” rating and boosted their target price for the company from $131.00 to $140.00 in a research report on Tuesday, October 15th. Jefferies Financial Group initiated coverage on shares of American Water Works in a research report on Monday, October 7th. They set an “underperform” rating and a $124.00 target price for the company. Finally, Wolfe Research raised shares of American Water Works to a “hold” rating in a report on Wednesday, September 18th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, American Water Works has an average rating of “Hold” and an average price target of $142.29.

American Water Works Price Performance

American Water Works stock opened at $138.19 on Wednesday. The firm has a market cap of $26.93 billion, a PE ratio of 27.36, a price-to-earnings-growth ratio of 3.12 and a beta of 0.70. American Water Works Company, Inc. has a 52-week low of $113.34 and a 52-week high of $150.68. The company has a quick ratio of 0.53, a current ratio of 0.58 and a debt-to-equity ratio of 1.21. The company’s 50 day moving average is $140.62 and its two-hundred day moving average is $137.63.

American Water Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 12th will be given a $0.765 dividend. This represents a $3.06 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Tuesday, November 12th. American Water Works’s dividend payout ratio is presently 60.59%.

Insider Buying and Selling at American Water Works

In related news, Director Martha Clark Goss sold 710 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $142.85, for a total value of $101,423.50. Following the transaction, the director now directly owns 36,880 shares of the company’s stock, valued at $5,268,308. This trade represents a 1.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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.