American Water Works Company, Inc. $AWK Shares Acquired by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments increased its American Water Works stake by 13,145 shares, or 0.5%, to about 2.46 million shares, valued at roughly $314.8 million.
• Third-quarter results fell short of analyst expectations: EPS was $2.00 versus $2.04 expected, and revenue was $1.51 billion versus $1.58 billion expected. Revenue nevertheless rose 4.1% year over year.
• Analysts’ consensus rating was Hold, with an average price target of $141.14. The company announced a quarterly dividend of $0.895 per share, equivalent to a 2.4% yield at the article’s cited share price.

Allspring Global Investments Holdings LLC increased its position in shares of American Water Works Company, Inc. (NYSE:AWK - Free Report) by 0.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,462,436 shares of the utilities provider's stock after buying an additional 13,145 shares during the period. Allspring Global Investments Holdings LLC owned about 1.24% of American Water Works worth $314,847,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. StoneRidge PMG Advisors LLC acquired a new position in shares of American Water Works in the third quarter worth about $461,000. Hohimer Wealth Management LLC acquired a new stake in American Water Works during the 3rd quarter valued at approximately $2,297,000. University of Texas Texas AM Investment Management Co. grew its stake in American Water Works by 127.9% during the 3rd quarter. University of Texas Texas AM Investment Management Co. now owns 376 shares of the utilities provider's stock valued at $49,000 after purchasing an additional 211 shares in the last quarter. Brighton Jones LLC grew its stake in American Water Works by 69.3% during the 3rd quarter. Brighton Jones LLC now owns 8,923 shares of the utilities provider's stock valued at $1,281,000 after purchasing an additional 3,653 shares in the last quarter. Finally, Cullinan Associates Inc. purchased a new stake in American Water Works during the 3rd quarter worth approximately $300,000. Institutional investors and hedge funds own 86.58% of the company's stock.

Analysts Set New Price Targets

AWK has been the topic of a number of recent analyst reports. Weiss Ratings raised American Water Works from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, November 2nd. UBS Group cut American Water Works from a "buy" rating to a "neutral" rating and increased their target price for the company from $153.00 to $162.00 in a research note on Friday. Wall Street Zen raised shares of American Water Works from a "strong sell" rating to a "sell" rating in a research report on Monday, August 3rd. Barclays dropped their price target on shares of American Water Works from $130.00 to $127.00 and set an "underweight" rating for the company in a research note on Monday, October 19th. Finally, Mizuho set a $149.00 price target on shares of American Water Works in a report on Friday, October 30th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, American Water Works presently has a consensus rating of "Hold" and an average target price of $141.14.

American Water Works Price Performance

Shares of AWK opened at $150.42 on Monday. American Water Works Company, Inc. has a 52 week low of $120.57 and a 52 week high of $153.69. The company has a current ratio of 0.39, a quick ratio of 0.36 and a debt-to-equity ratio of 1.17. The firm has a market cap of $29.95 billion, a price-to-earnings ratio of 26.07, a PEG ratio of 3.06 and a beta of 0.56. The stock has a 50 day moving average of $136.74 and a 200-day moving average of $132.87.

American Water Works (NYSE:AWK - Get Free Report) last posted its quarterly earnings results on Wednesday, October 28th. The utilities provider reported $2.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.04 by ($0.04). American Water Works had a net margin of 21.26% and a return on equity of 10.14%. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior year, the company posted $1.94 earnings per share. The business's revenue was up 4.1% on a year-over-year basis. As a group, analysts forecast that American Water Works Company, Inc. will post 6.09 EPS for the current year.

American Water Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Thursday, November 12th will be given a dividend of $0.8950 per share. This represents a $3.58 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Thursday, November 12th. American Water Works's dividend payout ratio is currently 62.05%.

American Water Works Company Profile

American Water Works Company, Inc is a U.S. water and wastewater utility that provides services to residential, commercial, industrial, and public-sector customers. Its operations include treating and distributing drinking water, collecting and treating wastewater, and maintaining the infrastructure needed to deliver those services.

The company operates regulated water and wastewater utilities across multiple states, serving communities in regions including the Northeast, Midwest, and South.

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