Principal Financial Group Inc. lowered its holdings in shares of American Water Works Company Inc (NYSE:AWK) by 8.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 420,616 shares of the utilities provider’s stock after selling 40,350 shares during the period. Principal Financial Group Inc. owned about 0.23% of American Water Works worth $51,673,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of the company. Corient Capital Partners LLC grew its stake in shares of American Water Works by 3.1% during the 4th quarter. Corient Capital Partners LLC now owns 9,162 shares of the utilities provider’s stock worth $1,125,000 after purchasing an additional 273 shares during the period. Victory Capital Management Inc. increased its holdings in American Water Works by 0.8% in the 4th quarter. Victory Capital Management Inc. now owns 102,228 shares of the utilities provider’s stock valued at $13,923,000 after purchasing an additional 784 shares in the last quarter. Jackson Wealth Management LLC raised its position in American Water Works by 5.0% in the fourth quarter. Jackson Wealth Management LLC now owns 7,494 shares of the utilities provider’s stock valued at $1,020,000 after purchasing an additional 356 shares during the period. US Bancorp DE raised its position in American Water Works by 4.8% in the fourth quarter. US Bancorp DE now owns 47,927 shares of the utilities provider’s stock valued at $5,889,000 after purchasing an additional 2,216 shares during the period. Finally, Park Avenue Securities LLC lifted its stake in shares of American Water Works by 16.4% during the fourth quarter. Park Avenue Securities LLC now owns 9,049 shares of the utilities provider’s stock worth $1,112,000 after purchasing an additional 1,274 shares in the last quarter. Institutional investors own 84.01% of the company’s stock.
A number of equities research analysts have recently issued reports on AWK shares. UBS Group lowered American Water Works from a “buy” rating to a “neutral” rating and increased their target price for the company from $133.00 to $148.00 in a research note on Tuesday, February 4th. Bank of America restated an “underperform” rating and issued a price target (up previously from ) on shares of American Water Works in a report on Monday, January 13th. JPMorgan Chase & Co. increased their price objective on shares of American Water Works from $127.00 to $129.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Wells Fargo & Co reiterated a “hold” rating on shares of American Water Works in a research note on Friday, December 6th. Finally, Zacks Investment Research cut shares of American Water Works from a “buy” rating to a “hold” rating and set a $126.00 target price on the stock. in a research report on Monday, December 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $134.29.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Friday, February 7th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Thursday, February 6th. American Water Works’s dividend payout ratio is currently 60.61%.
American Water Works Profile
American Water Works Company, Inc, through its subsidiaries, provides water and wastewater services in the United States and Canada. It offers water and wastewater services to approximately 1,600 communities in 16 states serving approximately 3.4 million active customers. The company serves residential customers; commercial customers, such as 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; and other utilities and community water and wastewater systems.
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