Envestnet Asset Management Inc. Sells 289,905 Shares of American Water Works Company, Inc. $AWK

Envestnet Asset Management Inc. decreased its holdings in shares of American Water Works Company, Inc. (NYSE:AWK) by 39.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 437,608 shares of the utilities provider’s stock after selling 289,905 shares during the quarter. Envestnet Asset Management Inc. owned 0.22% of American Water Works worth $60,911,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Empowered Funds LLC increased its stake in American Water Works by 11.5% in the first quarter. Empowered Funds LLC now owns 5,912 shares of the utilities provider’s stock worth $872,000 after purchasing an additional 609 shares during the period. Woodline Partners LP increased its stake in American Water Works by 40.7% in the 1st quarter. Woodline Partners LP now owns 16,466 shares of the utilities provider’s stock worth $2,429,000 after buying an additional 4,762 shares during the period. Sivia Capital Partners LLC purchased a new position in American Water Works in the 2nd quarter worth about $302,000. DAVENPORT & Co LLC lifted its holdings in American Water Works by 3.5% during the 2nd quarter. DAVENPORT & Co LLC now owns 3,354 shares of the utilities provider’s stock valued at $467,000 after buying an additional 112 shares in the last quarter. Finally, US Bancorp DE boosted its position in American Water Works by 5.7% in the 2nd quarter. US Bancorp DE now owns 55,699 shares of the utilities provider’s stock valued at $7,748,000 after buying an additional 2,989 shares during the period. 86.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on AWK shares. Mizuho set a $145.00 price target on shares of American Water Works in a research note on Tuesday, October 28th. Bank of America raised American Water Works from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $117.00 to $139.00 in a research report on Monday, January 12th. Jefferies Financial Group upgraded American Water Works from an “underperform” rating to a “hold” rating and upped their target price for the stock from $114.00 to $124.00 in a report on Wednesday, November 5th. TD Cowen began coverage on American Water Works in a research note on Thursday, October 16th. They set a “hold” rating and a $155.00 price target on the stock. Finally, UBS Group set a $149.00 price objective on shares of American Water Works in a research note on Wednesday, December 17th. One analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, American Water Works presently has a consensus rating of “Hold” and an average target price of $140.89.

American Water Works Stock Performance

AWK stock opened at $123.20 on Tuesday. American Water Works Company, Inc. has a one year low of $121.28 and a one year high of $155.50. The firm has a market cap of $24.05 billion, a price-to-earnings ratio of 21.65, a PEG ratio of 2.89 and a beta of 0.77. 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 firm has a 50-day simple moving average of $129.87 and a two-hundred day simple moving average of $135.21.

American Water Works Announces Dividend

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

American Water Works Company 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.