The Manufacturers Life Insurance Company Grows Holdings in American Water Works Company, Inc. (NYSE:AWK)

The Manufacturers Life Insurance Company grew its position in American Water Works Company, Inc. (NYSE:AWK) by 1.0% in the third quarter, HoldingsChannel reports. The fund owned 126,974 shares of the utilities provider’s stock after acquiring an additional 1,250 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in American Water Works were worth $18,569,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. ORG Partners LLC purchased a new position in American Water Works during the second quarter worth approximately $30,000. Catalyst Capital Advisors LLC raised its stake in shares of American Water Works by 155.6% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 299 shares of the utilities provider’s stock worth $44,000 after buying an additional 182 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of American Water Works during the 3rd quarter valued at approximately $51,000. Hantz Financial Services Inc. acquired a new stake in American Water Works in the 2nd quarter valued at $46,000. Finally, Assetmark Inc. increased its holdings in American Water Works by 31.7% in the 3rd quarter. Assetmark Inc. now owns 370 shares of the utilities provider’s stock worth $54,000 after acquiring an additional 89 shares in the last quarter. 86.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Martha Clark Goss sold 710 shares of the firm’s 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 completion of the sale, the director now owns 36,880 shares in the company, valued at $5,268,308. This trade represents a 1.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.08% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on AWK shares. Bank of America reaffirmed an “underperform” rating and set a $140.00 price objective on shares of American Water Works in a report on Friday, September 20th. Wolfe Research upgraded American Water Works to a “hold” rating in a research note on Wednesday, September 18th. UBS Group upgraded American Water Works from a “neutral” rating to a “buy” rating and raised their target price for the company from $151.00 to $155.00 in a research report on Tuesday, November 19th. Jefferies Financial Group initiated coverage on American Water Works in a research report on Monday, October 7th. They set an “underperform” rating and a $124.00 price target for the company. Finally, Mizuho downgraded American Water Works from an “outperform” rating to a “neutral” rating and increased their price objective for the company from $131.00 to $140.00 in a research note on Tuesday, October 15th. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, American Water Works currently has an average rating of “Hold” and an average price target of $142.29.

American Water Works Stock Performance

NYSE AWK opened at $136.94 on Friday. American Water Works Company, Inc. has a fifty-two week low of $113.34 and a fifty-two week high of $150.68. The firm has a market capitalization of $26.69 billion, a P/E ratio of 27.12, a price-to-earnings-growth ratio of 3.22 and a beta of 0.70. The stock’s fifty day moving average is $138.92 and its two-hundred day moving average is $137.86. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.53 and a current ratio of 0.58.

American Water Works Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 12th will be issued a $0.765 dividend. This represents a $3.06 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend is Tuesday, November 12th. American Water Works’s dividend payout ratio is currently 60.59%.

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.