Allstate Corp Sells 3,585 Shares of American Water Works Company, Inc. $AWK

Key Points

• Allstate Corp reduced its holdings in American Water Works Company by 60.5%, selling 3,585 shares in the first quarter, resulting in ownership of 2,344 shares valued at $346,000.
• Analysts have set varying price targets for American Water Works, with UBS lowering theirs from $156 to $151 and Evercore ISI raising it from $139 to $148, indicating mixed sentiments about the stock.
• American Water Works recently declared a quarterly dividend of $0.8275 per share, with an annualized payout of $3.31 and a dividend yield of 2.3%.

Allstate Corp lowered its stake in American Water Works Company, Inc. (NYSE:AWK - Free Report) by 60.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,344 shares of the utilities provider's stock after selling 3,585 shares during the quarter. Allstate Corp's holdings in American Water Works were worth $346,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of AWK. Price T Rowe Associates Inc. MD increased its position in shares of American Water Works by 881.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,704,995 shares of the utilities provider's stock valued at $546,562,000 after acquiring an additional 3,327,352 shares during the last quarter. Pictet Asset Management Holding SA increased its position in American Water Works by 24.1% during the first quarter. Pictet Asset Management Holding SA now owns 4,532,131 shares of the utilities provider's stock worth $668,566,000 after buying an additional 878,951 shares during the last quarter. Groupama Asset Managment increased its position in American Water Works by 114.3% during the first quarter. Groupama Asset Managment now owns 1,505,106 shares of the utilities provider's stock worth $2,296,000 after buying an additional 802,639 shares during the last quarter. Bank of America Corp DE increased its position in American Water Works by 38.4% during the fourth quarter. Bank of America Corp DE now owns 2,695,734 shares of the utilities provider's stock worth $335,592,000 after buying an additional 747,316 shares during the last quarter. Finally, Nuveen LLC acquired a new position in American Water Works during the first quarter worth approximately $103,053,000. Institutional investors and hedge funds own 86.58% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on AWK. Wells Fargo & Company lowered their price target on American Water Works from $147.00 to $141.00 and set an "equal weight" rating on the stock in a research report on Friday, August 1st. Argus boosted their price target on American Water Works from $155.00 to $160.00 and gave the stock a "buy" rating in a research report on Thursday, August 14th. UBS Group lowered their price target on American Water Works from $156.00 to $151.00 and set a "neutral" rating on the stock in a research report on Tuesday, August 12th. Barclays lowered their price target on American Water Works from $138.00 to $128.00 and set an "underweight" rating on the stock in a research report on Thursday, July 10th. Finally, Mizuho boosted their price target on American Water Works from $148.00 to $149.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, American Water Works presently has a consensus rating of "Reduce" and an average target price of $143.30.

American Water Works Stock Performance

Shares of NYSE:AWK traded up $0.47 during trading on Monday, reaching $143.40. 941,293 shares of the stock were exchanged, compared to its average volume of 1,517,243. American Water Works Company, Inc. has a 12 month low of $118.74 and a 12 month high of $155.50. The firm has a market cap of $27.98 billion, a PE ratio of 25.84, a PEG ratio of 3.40 and a beta of 0.69. The stock has a 50-day moving average price of $142.43 and a 200-day moving average price of $142.16. The company has a current ratio of 0.35, a quick ratio of 0.32 and a debt-to-equity ratio of 1.15.

American Water Works (NYSE:AWK - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $1.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.53 by ($0.05). American Water Works had a return on equity of 10.34% and a net margin of 21.91%.The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the firm earned $1.42 EPS. The company's revenue was up 11.1% on a year-over-year basis. American Water Works has set its FY 2025 guidance at 5.700-5.750 EPS. Research analysts expect that American Water Works Company, Inc. will post 5.71 EPS for the current fiscal year.

American Water Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Tuesday, August 12th will be issued a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Tuesday, August 12th. American Water Works's payout ratio is currently 59.64%.

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.