HighTower Advisors LLC Cuts Stake in American Water Works Company, Inc. (NYSE:AWK)

HighTower Advisors LLC reduced its position in shares of American Water Works Company, Inc. (NYSE:AWK) by 0.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 521,752 shares of the utilities provider’s stock after selling 2,847 shares during the quarter. HighTower Advisors LLC owned 0.27% of American Water Works worth $76,310,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Lake Street Advisors Group LLC boosted its position in shares of American Water Works by 4.2% during the third quarter. Lake Street Advisors Group LLC now owns 1,858 shares of the utilities provider’s stock valued at $272,000 after buying an additional 75 shares during the last quarter. Miracle Mile Advisors LLC boosted its holdings in shares of American Water Works by 2.9% during the 3rd quarter. Miracle Mile Advisors LLC now owns 2,790 shares of the utilities provider’s stock valued at $408,000 after acquiring an additional 79 shares during the last quarter. Invesco LLC grew its stake in shares of American Water Works by 3.4% in the third quarter. Invesco LLC now owns 2,467 shares of the utilities provider’s stock worth $361,000 after acquiring an additional 82 shares during the period. Asset Dedication LLC grew its stake in shares of American Water Works by 1.6% in the second quarter. Asset Dedication LLC now owns 5,415 shares of the utilities provider’s stock worth $699,000 after acquiring an additional 85 shares during the period. Finally, Assetmark Inc. raised its holdings in shares of American Water Works by 31.7% during the third quarter. Assetmark Inc. now owns 370 shares of the utilities provider’s stock valued at $54,000 after purchasing an additional 89 shares during the last quarter. 86.58% of the stock is owned by hedge funds and other institutional investors.

American Water Works Stock Down 1.1 %

NYSE AWK opened at $134.13 on Wednesday. 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 has a market capitalization of $26.14 billion, a P/E ratio of 26.56, a price-to-earnings-growth ratio of 3.15 and a beta of 0.70. The stock’s 50-day moving average price is $138.47 and its 200-day moving average price is $137.90.

American Water Works Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 12th were issued a dividend of $0.765 per share. This represents a $3.06 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend was Tuesday, November 12th. American Water Works’s dividend payout ratio is currently 60.59%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Bank of America reaffirmed an “underperform” rating and issued a $140.00 target price on shares of American Water Works in a research report on Friday, September 20th. Jefferies Financial Group initiated coverage on American Water Works in a report on Monday, October 7th. They issued an “underperform” rating and a $124.00 price objective for the company. Wolfe Research raised American Water Works to a “hold” rating in a report on Wednesday, September 18th. UBS Group raised American Water Works from a “neutral” rating to a “buy” rating and raised their target price for the stock from $151.00 to $155.00 in a research report on Tuesday, November 19th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $164.00 price target on shares of American Water Works in a research report on Thursday, September 19th. Four research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $142.29.

About American Water Works

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.