CIBC Asset Management Inc Sells 1,046 Shares of American Water Works Company, Inc. (NYSE:AWK)

CIBC Asset Management Inc lowered its position in American Water Works Company, Inc. (NYSE:AWK) by 3.4% during the third quarter, Holdings Channel reports. 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.

Several other large investors have also recently modified their holdings of AWK. TIAA Trust National Association increased its position in shares of American Water Works by 27.0% during the first quarter. TIAA Trust National Association now owns 2,917 shares of the utilities provider’s stock worth $356,000 after purchasing an additional 621 shares in the last quarter. Edgestream Partners L.P. increased its position in American Water Works by 153.8% during the 1st quarter. Edgestream Partners L.P. now owns 13,640 shares of the utilities provider’s stock valued at $1,667,000 after buying an additional 8,266 shares in the last quarter. Bessemer Group Inc. raised its stake in American Water Works by 2.5% in the first quarter. Bessemer Group Inc. now owns 6,707 shares of the utilities provider’s stock valued at $819,000 after buying an additional 162 shares during the last quarter. Lake Street Advisors Group LLC acquired a new stake in American Water Works in the first quarter worth about $211,000. Finally, CANADA LIFE ASSURANCE Co grew its stake in shares of American Water Works by 14.7% during the first quarter. CANADA LIFE ASSURANCE Co now owns 782,090 shares of the utilities provider’s stock worth $95,608,000 after acquiring an additional 100,403 shares during the last quarter. Institutional investors own 86.58% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on AWK. Bank of America reaffirmed an “underperform” rating and issued a $140.00 price objective on shares of American Water Works in a research report on Friday, September 20th. Royal Bank of Canada reiterated an “outperform” rating and set a $164.00 price objective on shares of American Water Works in a research note on Thursday, September 19th. Wolfe Research raised American Water Works to a “hold” rating in a research report on Wednesday, September 18th. Jefferies Financial Group assumed coverage on American Water Works in a research report on Monday, October 7th. They set an “underperform” rating and a $124.00 price target for the company. Finally, Wells Fargo & Company lowered American Water Works from an “equal weight” rating to an “underweight” rating and increased their price objective for the company from $127.00 to $138.00 in a report on Wednesday, July 31st. Four equities research analysts have rated the stock with a sell rating, four have assigned 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 an average price target of $140.00.

Insiders Place Their Bets

In other American Water Works news, Director Martha Clark Goss sold 710 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $5,268,308. This represents a 1.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.08% of the company’s stock.

American Water Works Price Performance

Shares of AWK opened at $136.67 on Tuesday. The company has a market capitalization of $26.64 billion, a P/E ratio of 27.06, a P/E/G ratio of 3.12 and a beta of 0.70. The business’s 50-day moving average is $140.82 and its two-hundred day moving average is $137.57. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.53 and a current ratio of 0.58. American Water Works Company, Inc. has a fifty-two week low of $113.34 and a fifty-two week high of $150.68.

American Water Works Dividend Announcement

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

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.