Cornerstone Advisors LLC Has $443,000 Stock Holdings in American Water Works Company, Inc. (NYSE:AWK)

Cornerstone Advisors LLC reduced its stake in shares of American Water Works Company, Inc. (NYSE:AWK) by 82.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 3,000 shares of the utilities provider’s stock after selling 13,800 shares during the period. Cornerstone Advisors LLC’s holdings in American Water Works were worth $443,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Sumitomo Life Insurance Co. raised its holdings in American Water Works by 1.5% during the 1st quarter. Sumitomo Life Insurance Co. now owns 4,679 shares of the utilities provider’s stock worth $690,000 after buying an additional 70 shares during the period. Sargent Investment Group LLC raised its holdings in American Water Works by 2.6% during the 1st quarter. Sargent Investment Group LLC now owns 2,795 shares of the utilities provider’s stock worth $412,000 after buying an additional 70 shares during the period. Private Trust Co. NA raised its holdings in American Water Works by 4.8% during the 1st quarter. Private Trust Co. NA now owns 1,607 shares of the utilities provider’s stock worth $237,000 after buying an additional 74 shares during the period. Foundations Investment Advisors LLC grew its stake in shares of American Water Works by 5.0% during the 1st quarter. Foundations Investment Advisors LLC now owns 1,726 shares of the utilities provider’s stock worth $255,000 after acquiring an additional 82 shares in the last quarter. Finally, Principal Securities Inc. grew its stake in shares of American Water Works by 1.4% during the 1st quarter. Principal Securities Inc. now owns 6,157 shares of the utilities provider’s stock worth $908,000 after acquiring an additional 85 shares in the last quarter. 86.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at American Water Works

In other American Water Works news, CAO Melissa K. Wikle sold 2,825 shares of the firm’s stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $143.28, for a total value of $404,766.00. Following the sale, the chief accounting officer owned 7,572 shares in the company, valued at $1,084,916.16. This trade represents a 27.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.11% of the company’s stock.

American Water Works Trading Down 3.8%

Shares of American Water Works stock opened at $141.48 on Wednesday. The business has a fifty day simple moving average of $141.28 and a two-hundred day simple moving average of $139.47. American Water Works Company, Inc. has a 1 year low of $118.74 and a 1 year high of $155.50. The company has a market capitalization of $27.60 billion, a price-to-earnings ratio of 25.49, a P/E/G ratio of 3.48 and a beta of 0.65. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.35 and a quick ratio of 0.32.

American Water Works (NYSE:AWK) last announced its earnings results on Wednesday, July 30th. The utilities provider reported $1.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.05). The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.22 billion. American Water Works had a net margin of 21.91% and a return on equity of 10.34%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.42 EPS. Research analysts forecast that American Water Works Company, Inc. will post 5.71 EPS for the current year.

American Water Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Tuesday, August 12th will be paid a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Tuesday, August 12th. American Water Works’s dividend payout ratio (DPR) is presently 59.64%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AWK. Wells Fargo & Company decreased their price target on shares of American Water Works from $147.00 to $141.00 and set an “equal weight” rating for the company in a research note on Friday, August 1st. Barclays decreased their price target on shares of American Water Works from $138.00 to $128.00 and set an “underweight” rating for the company in a research note on Thursday, July 10th. Mizuho raised their price target on shares of American Water Works from $148.00 to $149.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. UBS Group reaffirmed a “neutral” rating and set a $156.00 price target (up from $154.00) on shares of American Water Works in a research note on Friday, July 11th. Finally, Evercore ISI raised their price target on shares of American Water Works from $139.00 to $148.00 and gave the stock an “in-line” rating in a research note on Friday, May 2nd. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $142.00.

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.