Comerica Bank Sells 2,954 Shares of American Water Works Company, Inc. $AWK

Key Points

• Comerica Bank reduced its stake in American Water Works by 6.8%, selling 2,954 shares, leaving it with 40,770 shares valued at approximately $6 million.
• The company reported quarterly earnings of $1.48 per share, falling short of estimates, but its revenue increased by 11.1% year-over-year to $1.28 billion.
• American Water Works announced a quarterly dividend of $0.8275, translating to an annualized dividend of $3.31 and a yield of 2.3%, with a payout ratio of 59.64%.

Comerica Bank reduced its holdings in American Water Works Company, Inc. (NYSE:AWK - Free Report) by 6.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,770 shares of the utilities provider's stock after selling 2,954 shares during the quarter. Comerica Bank's holdings in American Water Works were worth $6,014,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Cloud Capital Management LLC bought a new position in American Water Works in the 1st quarter worth approximately $29,000. Capital A Wealth Management LLC bought a new position in American Water Works in the 4th quarter worth approximately $33,000. Wayfinding Financial LLC bought a new position in American Water Works in the 1st quarter worth approximately $48,000. Millstone Evans Group LLC bought a new position in American Water Works in the 1st quarter worth approximately $55,000. Finally, Banque Transatlantique SA bought a new position in American Water Works in the 4th quarter worth approximately $46,000. 86.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AWK has been the subject of several research analyst reports. Mizuho boosted their price objective on shares of American Water Works from $148.00 to $149.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Barclays dropped their price objective on shares of American Water Works from $138.00 to $128.00 and set an "underweight" rating for the company in a research report on Thursday, July 10th. UBS Group dropped their price objective on shares of American Water Works from $156.00 to $151.00 and set a "neutral" rating for the company in a research report on Tuesday, August 12th. Wall Street Zen cut shares of American Water Works from a "hold" rating to a "sell" rating in a research report on Wednesday, May 14th. Finally, Argus upped their target price on shares of American Water Works from $155.00 to $160.00 and gave the company a "buy" rating in a research report on Thursday, August 14th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average price target of $143.30.

American Water Works Stock Performance

NYSE:AWK traded down $2.21 during mid-day trading on Tuesday, hitting $141.31. The stock had a trading volume of 544,670 shares, compared to its average volume of 1,411,728. American Water Works Company, Inc. has a twelve month low of $118.74 and a twelve month high of $155.50. The stock has a market cap of $27.57 billion, a price-to-earnings ratio of 25.46, a PEG ratio of 3.40 and a beta of 0.69. The company's 50 day simple moving average is $142.43 and its 200 day simple moving average is $142.16. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.32 and a current ratio of 0.35.

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 the consensus estimate of $1.53 by ($0.05). The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.22 billion. American Water Works had a return on equity of 10.34% and a net margin of 21.91%.The company's revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business earned $1.42 earnings per share. American Water Works has set its FY 2025 guidance at 5.700-5.750 EPS. On average, equities research analysts forecast that American Water Works Company, Inc. will post 5.71 earnings per share for the current year.

American Water Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Tuesday, August 12th will be given a dividend of $0.8275 per share. The ex-dividend date is Tuesday, August 12th. This represents a $3.31 annualized dividend and a yield of 2.3%. American Water Works's dividend payout ratio (DPR) is 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.