Federated Hermes Inc. Reduces Stock Position in American Water Works Company, Inc. $AWK

Federated Hermes Inc. decreased its holdings in shares of American Water Works Company, Inc. (NYSE:AWK) by 76.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,879 shares of the utilities provider’s stock after selling 32,474 shares during the period. Federated Hermes Inc.’s holdings in American Water Works were worth $1,375,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Truist Financial Corp grew its stake in American Water Works by 0.9% in the third quarter. Truist Financial Corp now owns 19,588 shares of the utilities provider’s stock worth $2,726,000 after purchasing an additional 181 shares during the period. AGP Franklin LLC grew its position in shares of American Water Works by 11.1% in the 3rd quarter. AGP Franklin LLC now owns 6,645 shares of the utilities provider’s stock worth $925,000 after buying an additional 665 shares during the period. Commerzbank Aktiengesellschaft FI increased its stake in shares of American Water Works by 199.3% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 17,764 shares of the utilities provider’s stock worth $2,473,000 after acquiring an additional 11,829 shares in the last quarter. First Citizens Bank & Trust Co. lifted its position in American Water Works by 2.5% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 3,586 shares of the utilities provider’s stock valued at $499,000 after acquiring an additional 87 shares during the period. Finally, Westfuller Advisors LLC bought a new stake in American Water Works during the third quarter worth about $33,000. 86.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on AWK shares. Wells Fargo & Company lowered their target price on shares of American Water Works from $142.00 to $126.00 and set an “equal weight” rating for the company in a report on Tuesday, January 20th. Mizuho set a $145.00 price objective on American Water Works in a research report on Tuesday, October 28th. TD Cowen assumed coverage on American Water Works in a report on Thursday, October 16th. They issued a “hold” rating and a $155.00 target price on the stock. UBS Group set a $149.00 price target on American Water Works in a report on Wednesday, December 17th. Finally, Barclays lowered their price target on 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. One investment analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $140.89.

American Water Works Price Performance

AWK opened at $125.66 on Friday. The company’s 50-day simple moving average is $130.14 and its two-hundred day simple moving average is $135.57. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.39 and a current ratio of 0.42. The stock has a market capitalization of $24.53 billion, a P/E ratio of 22.08, a P/E/G ratio of 2.88 and a beta of 0.77. American Water Works Company, Inc. has a 52-week low of $121.39 and a 52-week high of $155.50.

American Water Works Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 3rd. Stockholders of record on Tuesday, February 10th will be issued a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Tuesday, February 10th. American Water Works’s dividend payout ratio is presently 58.17%.

American Water Works Profile

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.