CIBC Asset Management Inc Decreases Stake in American Water Works Company, Inc. (NYSE:AWK)

CIBC Asset Management Inc lessened its position in shares of American Water Works Company, Inc. (NYSE:AWK) by 3.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,943 shares of the utilities provider’s stock after selling 1,046 shares during the quarter. CIBC Asset Management Inc’s holdings in American Water Works were worth $4,379,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Lake Street Advisors Group LLC grew its holdings in shares of American Water Works by 4.2% in the third quarter. Lake Street Advisors Group LLC now owns 1,858 shares of the utilities provider’s stock valued at $272,000 after purchasing an additional 75 shares in the last quarter. Miracle Mile Advisors LLC increased its holdings in shares of American Water Works by 2.9% in the 3rd quarter. Miracle Mile Advisors LLC now owns 2,790 shares of the utilities provider’s stock worth $408,000 after buying an additional 79 shares during the last quarter. Invesco LLC increased its holdings in shares of American Water Works by 3.4% in the 3rd quarter. Invesco LLC now owns 2,467 shares of the utilities provider’s stock worth $361,000 after buying an additional 82 shares during the last quarter. Asset Dedication LLC lifted its holdings in shares of American Water Works by 1.6% in the 2nd quarter. Asset Dedication LLC now owns 5,415 shares of the utilities provider’s stock valued at $699,000 after acquiring an additional 85 shares during the last quarter. Finally, Moody National Bank Trust Division increased its stake in American Water Works by 2.0% during the second quarter. Moody National Bank Trust Division now owns 4,590 shares of the utilities provider’s stock worth $593,000 after acquiring an additional 88 shares during the last quarter. Institutional investors own 86.58% of the company’s stock.

Wall Street Analyst Weigh In

AWK has been the subject of a number of recent research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $164.00 target price on shares of American Water Works in a report on Thursday, September 19th. Jefferies Financial Group assumed coverage on shares of American Water Works in a research note on Monday, October 7th. They set an “underperform” rating and a $124.00 price objective for the company. Mizuho downgraded shares of American Water Works from an “outperform” rating to a “neutral” rating and increased their target price for the company from $131.00 to $140.00 in a research note on Tuesday, October 15th. Wolfe Research upgraded American Water Works to a “hold” rating in a research note on Wednesday, September 18th. Finally, Bank of America reissued an “underperform” rating and set a $140.00 target price on shares of American Water Works in a research note on Friday, September 20th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, American Water Works currently has an average rating of “Hold” and an average target price of $140.00.

American Water Works Stock Performance

AWK stock opened at $136.67 on Tuesday. American Water Works Company, Inc. has a 1-year low of $113.34 and a 1-year high of $150.68. The business has a 50-day moving average price of $140.82 and a 200 day moving average price of $137.57. The company has a market capitalization of $26.64 billion, a P/E ratio of 27.06, a PEG ratio of 3.12 and a beta of 0.70. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.58 and a quick ratio of 0.53.

American Water Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 12th will be given a $0.765 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $3.06 annualized dividend and a dividend yield of 2.24%. American Water Works’s payout ratio is presently 60.59%.

Insider Activity

In related news, Director Martha Clark Goss sold 710 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were 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 of the company’s stock, valued at $5,268,308. The trade was a 1.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.08% of the company’s stock.

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.