American Water Works Company, Inc. $AWK Stock Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System trimmed its stake in shares of American Water Works Company, Inc. (NYSE:AWK) by 2.4% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 190,824 shares of the utilities provider’s stock after selling 4,697 shares during the quarter. Maryland State Retirement & Pension System owned about 0.10% of American Water Works worth $25,007,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of AWK. Ascentis Independent Advisors bought a new position in shares of American Water Works in the first quarter worth $27,000. Harborfront Financial Group LLC acquired a new position in American Water Works in the second quarter valued at about $29,000. Farmers & Merchants Investments Inc. lifted its position in American Water Works by 73.1% during the third quarter. Farmers & Merchants Investments Inc. now owns 232 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 98 shares during the period. Financial Management Professionals Inc. bought a new stake in American Water Works during the third quarter worth about $31,000. Finally, Global Assets Advisory LLC bought a new stake in American Water Works during the first quarter worth about $33,000. 86.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AWK. Barclays reduced their price objective on shares of American Water Works from $130.00 to $127.00 and set an “underweight” rating on the stock in a research note on Monday, October 19th. Mizuho set a $149.00 target price on shares of American Water Works in a research report on Friday, October 30th. Truist Financial set a $139.00 price target on shares of American Water Works in a report on Tuesday, August 4th. Bank of America reaffirmed a “neutral” rating on shares of American Water Works in a report on Thursday, July 16th. Finally, Argus increased their price target on shares of American Water Works from $155.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $144.12.

American Water Works Trading Down 0.6%

Shares of AWK opened at $149.48 on Thursday. American Water Works Company, Inc. has a 52-week low of $120.57 and a 52-week high of $153.69. The business’s fifty day moving average is $137.44 and its 200-day moving average is $133.15. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.36 and a current ratio of 0.39. The firm has a market cap of $29.76 billion, a price-to-earnings ratio of 25.91, a PEG ratio of 3.06 and a beta of 0.56.

American Water Works (NYSE:AWK) last posted its quarterly earnings results on Wednesday, October 28th. The utilities provider reported $2.00 EPS for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.04). American Water Works had a return on equity of 10.14% and a net margin of 21.26%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period last year, the firm posted $1.94 EPS. American Water Works’s quarterly revenue was up 4.1% on a year-over-year basis. Equities analysts anticipate that American Water Works Company, Inc. will post 6.09 EPS for the current fiscal year.

American Water Works Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Thursday, November 12th will be given a $0.8950 dividend. This represents a $3.58 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Thursday, November 12th. American Water Works’s payout ratio is currently 62.05%.

Top American Water Works Stories

These are some of the AWK stories that stood out recently:

• Positive Sentiment: Argus raised its price target on AWK to $165 from $155 and reiterated a “buy” rating. The higher target signals improved analyst optimism and implies about 10.4% upside from the cited $149.48 share price. Argus rating information
• Neutral Sentiment: American Water launched a redesigned customer website intended to simplify access to services and support. The improvement may benefit customer experience, but no financial impact was disclosed. American Water digital experience announcement
• Neutral Sentiment: Foundation grants for STEM education and student footwear are community-benefit initiatives, but are not expected to have a meaningful near-term effect on AWK’s financial results. Putnam Museum grant Clinton student grant

About American Water Works

American Water Works Company, Inc. is a U.S. water and wastewater utility that provides services to residential, commercial, industrial, and public-sector customers. Its operations include treating and distributing drinking water, collecting and treating wastewater, and maintaining the infrastructure needed to deliver those services. The company operates regulated water and wastewater utilities across multiple states, serving communities in regions including the Northeast, Midwest, and South. Through contracted operations, it also provides water and wastewater services to certain military installations and municipal customers.