PNC Financial Services Group Inc. Lowers Position in American Water Works Company, Inc. (NYSE:AWK)

PNC Financial Services Group Inc. reduced its stake in American Water Works Company, Inc. (NYSE:AWK) by 0.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 659,615 shares of the utilities provider’s stock after selling 3,758 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.34% of American Water Works worth $96,462,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. ORG Partners LLC purchased a new stake in American Water Works in the 2nd quarter valued at $30,000. Catalyst Capital Advisors LLC raised its position in American Water Works by 155.6% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 299 shares of the utilities provider’s stock valued at $44,000 after buying an additional 182 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in American Water Works in the 3rd quarter valued at $51,000. Hantz Financial Services Inc. bought a new position in American Water Works in the 2nd quarter valued at $46,000. Finally, Assetmark Inc. grew its stake in American Water Works by 31.7% in the 3rd quarter. Assetmark Inc. now owns 370 shares of the utilities provider’s stock valued at $54,000 after purchasing an additional 89 shares during the period. 86.58% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other American Water Works news, Director Martha Clark Goss sold 710 shares of the firm’s 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 transaction, the director now owns 36,880 shares in the company, valued at $5,268,308. This trade represents a 1.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.08% of the stock is owned by corporate insiders.

American Water Works Stock Up 1.1 %

AWK stock opened at $138.19 on Wednesday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.53 and a current ratio of 0.58. The company has a market capitalization of $26.93 billion, a price-to-earnings ratio of 27.36, a PEG ratio of 3.12 and a beta of 0.70. American Water Works Company, Inc. has a fifty-two week low of $113.34 and a fifty-two week high of $150.68. The stock has a fifty day moving average of $140.62 and a 200-day moving average of $137.63.

American Water Works Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 12th will be paid a $0.765 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $3.06 annualized dividend and a yield of 2.21%. American Water Works’s dividend payout ratio is currently 60.59%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Royal Bank of Canada restated an “outperform” rating and issued a $164.00 price objective on shares of American Water Works in a research note on Thursday, September 19th. Jefferies Financial Group assumed coverage on American Water Works in a research note on Monday, October 7th. They issued an “underperform” rating and a $124.00 price objective for the company. Wells Fargo & Company downgraded American Water Works from an “equal weight” rating to an “underweight” rating and upped their price objective for the company from $127.00 to $138.00 in a research note on Wednesday, July 31st. Mizuho downgraded American Water Works from an “outperform” rating to a “neutral” rating and upped their price objective for the company from $131.00 to $140.00 in a research note on Tuesday, October 15th. Finally, Wolfe Research upgraded American Water Works to a “hold” rating in a research note on Wednesday, September 18th. Four analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $142.29.

American Water Works Company 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.