Envestnet Asset Management Inc. Acquires 20,621 Shares of American Water Works Company, Inc. (NYSE:AWK)

Envestnet Asset Management Inc. increased its stake in American Water Works Company, Inc. (NYSE:AWK - Free Report) by 3.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 693,078 shares of the utilities provider's stock after acquiring an additional 20,621 shares during the period. Envestnet Asset Management Inc. owned about 0.36% of American Water Works worth $102,243,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AWK. Norges Bank purchased a new position in American Water Works in the fourth quarter worth $294,524,000. Bank of America Corp DE grew its position in American Water Works by 38.4% in 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 acquiring an additional 747,316 shares in the last quarter. GAMMA Investing LLC grew its position in American Water Works by 20,534.0% in the first quarter. GAMMA Investing LLC now owns 615,306 shares of the utilities provider's stock worth $90,770,000 after acquiring an additional 612,324 shares in the last quarter. Invesco Ltd. grew its position in American Water Works by 15.2% in the fourth quarter. Invesco Ltd. now owns 3,142,465 shares of the utilities provider's stock worth $391,205,000 after acquiring an additional 414,568 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in American Water Works by 55.9% during the fourth quarter. First Trust Advisors LP now owns 980,596 shares of the utilities provider's stock valued at $122,074,000 after buying an additional 351,533 shares during the period. 86.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at American Water Works

In related news, CAO Melissa K. Wikle sold 2,825 shares of the stock in a transaction dated Friday, May 30th. The shares were 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 directly owned 7,572 shares of the company's stock, valued at $1,084,916.16. This represents a 27.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.11% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AWK. UBS Group upped their price target on shares of American Water Works from $154.00 to $156.00 and gave the company a "neutral" rating in a research report on Friday. Wells Fargo & Company upped their price target on shares of 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. Evercore ISI upped their price target on shares of 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. Wall Street Zen lowered shares of American Water Works from a "hold" rating to a "sell" rating in a research report on Wednesday, May 14th. Finally, Barclays cut their price target 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. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, American Water Works currently has a consensus rating of "Hold" and a consensus price target of $141.67.

American Water Works Trading Down 0.3%

Shares of American Water Works stock traded down $0.45 during trading on Friday, reaching $142.23. 948,450 shares of the stock were exchanged, compared to its average volume of 1,238,511. The company has a quick ratio of 0.44, a current ratio of 0.49 and a debt-to-equity ratio of 1.26. The stock's fifty day moving average is $141.57 and its 200 day moving average is $137.22. The firm has a market cap of $27.74 billion, a price-to-earnings ratio of 25.91, a price-to-earnings-growth ratio of 3.38 and a beta of 0.69. American Water Works Company, Inc. has a 1 year low of $118.74 and a 1 year high of $155.50.

American Water Works (NYSE:AWK - Get Free Report) last posted its earnings results on Wednesday, April 30th. The utilities provider reported $1.05 earnings per share for the quarter, missing analysts' consensus estimates of $1.06 by ($0.01). The firm had revenue of $1.14 billion for the quarter, compared to analysts' expectations 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 revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.95 earnings per share. As a group, equities research analysts expect that American Water Works Company, Inc. will post 5.71 earnings per share for the current fiscal year.

American Water Works Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Investors 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. This represents a $3.31 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend was Tuesday, May 13th. American Water Works's dividend payout ratio is presently 60.29%.

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.