Canandaigua National Trust Co of Florida Invests $894,000 in American Water Works Company, Inc. (NYSE:AWK)

Canandaigua National Trust Co of Florida bought a new position in American Water Works Company, Inc. (NYSE:AWK - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,058 shares of the utilities provider's stock, valued at approximately $894,000. American Water Works makes up about 0.8% of Canandaigua National Trust Co of Florida's holdings, making the stock its 28th largest holding.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its position in American Water Works by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 25,107,225 shares of the utilities provider's stock worth $3,125,598,000 after acquiring an additional 217,582 shares during the last quarter. Geode Capital Management LLC grew its position in American Water Works by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 4,671,050 shares of the utilities provider's stock worth $579,981,000 after acquiring an additional 106,857 shares during the last quarter. Amundi grew its position in American Water Works by 11.9% during the 4th quarter. Amundi now owns 4,490,423 shares of the utilities provider's stock worth $553,687,000 after acquiring an additional 477,411 shares during the last quarter. Northern Trust Corp grew its position in American Water Works by 11.1% during the 4th quarter. Northern Trust Corp now owns 3,357,726 shares of the utilities provider's stock worth $418,003,000 after acquiring an additional 335,683 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in American Water Works by 120.7% during the 4th quarter. Victory Capital Management Inc. now owns 3,174,395 shares of the utilities provider's stock worth $395,180,000 after acquiring an additional 1,736,258 shares during the last quarter. 86.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AWK has been the topic of a number of recent research reports. Wall Street Zen lowered American Water Works from a "hold" rating to a "sell" rating in a research report on Wednesday, May 14th. Wells Fargo & Company increased their price objective on American Water Works from $142.00 to $147.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. UBS Group lowered American Water Works from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 25th. Barclays initiated coverage on American Water Works in a research report on Tuesday, April 22nd. They issued an "underweight" rating and a $138.00 price objective on the stock. Finally, Evercore ISI increased their price objective on American Water Works from $139.00 to $148.00 and gave the company an "in-line" rating in a research report on Friday, May 2nd. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $143.22.

American Water Works Stock Performance

Shares of American Water Works stock opened at $137.79 on Monday. The company has a market capitalization of $26.87 billion, a PE ratio of 25.10, a PEG ratio of 3.26 and a beta of 0.71. American Water Works Company, Inc. has a 12 month low of $118.74 and a 12 month high of $155.50. The company has a current ratio of 0.49, a quick ratio of 0.44 and a debt-to-equity ratio of 1.26. The stock's fifty day simple moving average is $142.67 and its 200 day simple moving average is $136.37.

American Water Works (NYSE:AWK - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.01). The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.09 billion. American Water Works had a return on equity of 10.35% and a net margin of 22.24%. The business's quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.95 EPS. On average, research analysts predict that American Water Works Company, Inc. will post 5.71 EPS for the current year.

American Water Works Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 13th were paid a $0.8275 dividend. This is an increase from American Water Works's previous quarterly dividend of $0.77. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $3.31 annualized dividend and a dividend yield of 2.40%. American Water Works's dividend payout ratio (DPR) is currently 60.29%.

Insider Buying and Selling at American Water Works

In other news, CAO Melissa K. Wikle sold 2,825 shares of the firm's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $143.28, for a total value of $404,766.00. Following the completion of the transaction, the chief accounting officer now owns 7,572 shares in the company, valued at $1,084,916.16. This trade represents a 27.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.11% of the company's stock.

About American Water Works

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.

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