Allspring Global Investments Holdings LLC Buys 143,914 Shares of American Water Works Company, Inc. (NYSE:AWK)

Allspring Global Investments Holdings LLC lifted its position in American Water Works Company, Inc. (NYSE:AWK) by 6.8% during the 3rd quarter, Holdings Channel reports. The firm owned 2,245,306 shares of the utilities provider’s stock after buying an additional 143,914 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in American Water Works were worth $328,354,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. ORG Partners LLC bought a new stake in shares of American Water Works during the second quarter worth $30,000. Farmers & Merchants Investments Inc. grew its holdings in American Water Works by 100.0% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 254 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 127 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in American Water Works in the 1st quarter valued at about $41,000. Hantz Financial Services Inc. bought a new position in shares of American Water Works in the second quarter worth about $46,000. Finally, Salomon & Ludwin LLC raised its stake in shares of American Water Works by 260.2% in the first quarter. Salomon & Ludwin LLC now owns 389 shares of the utilities provider’s stock worth $48,000 after acquiring an additional 281 shares during the last quarter. Institutional investors and hedge funds own 86.58% of the company’s stock.

American Water Works Trading Up 0.8 %

NYSE AWK traded up $1.17 on Friday, reaching $141.96. The company had a trading volume of 818,528 shares, compared to its average volume of 1,206,506. The company has a quick ratio of 0.58, a current ratio of 0.64 and a debt-to-equity ratio of 1.24. American Water Works Company, Inc. has a 52 week low of $113.34 and a 52 week high of $150.68. The stock has a market cap of $27.66 billion, a price-to-earnings ratio of 28.80, a PEG ratio of 3.28 and a beta of 0.69. The stock’s 50 day moving average is $143.26 and its 200-day moving average is $134.99.

American Water Works (NYSE:AWK) last announced its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.05). American Water Works had a net margin of 21.93% and a return on equity of 9.60%. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the prior year, the business earned $1.44 earnings per share. The business’s revenue was up 4.7% on a year-over-year basis. Equities analysts predict that American Water Works Company, Inc. will post 5.27 earnings per share for the current year.

American Water Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Tuesday, August 13th were paid a dividend of $0.765 per share. This represents a $3.06 annualized dividend and a yield of 2.16%. The ex-dividend date was Tuesday, August 13th. American Water Works’s payout ratio is presently 62.07%.

Insiders Place Their Bets

In other American Water Works news, Director Martha Clark Goss sold 710 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $142.85, for a total value of $101,423.50. Following the completion of the sale, the director now directly owns 36,880 shares in the company, valued at $5,268,308. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Bank of America reissued an “underperform” rating and issued a $140.00 price target on shares of American Water Works in a report on Friday, September 20th. Wells Fargo & Company cut American Water Works from an “equal weight” rating to an “underweight” rating and lifted their target price for the company from $127.00 to $138.00 in a research note on Wednesday, July 31st. Jefferies Financial Group began coverage on American Water Works in a research note on Monday, October 7th. They set an “underperform” rating and a $124.00 price target on the stock. Wolfe Research upgraded American Water Works to a “hold” rating in a research report on Wednesday, September 18th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $164.00 price objective on shares of American Water Works in a report on Thursday, September 19th. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $140.00.

American Water Works Profile

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.