Truist Financial Corp Trims Stake in American Water Works Company, Inc. (NYSE:AWK)

Written by Amanda

Truist Financial Corp cut its position in shares of American Water Works Company, Inc. (NYSE:AWKFree Report) by 21.7% in the fourth quarter, HoldingsChannel reports. The firm owned 16,900 shares of the utilities provider’s stock after selling 4,677 shares during the period. Truist Financial Corp’s holdings in American Water Works were worth $2,231,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in AWK. MV Capital Management Inc. increased its holdings in American Water Works by 110.8% during the fourth quarter. MV Capital Management Inc. now owns 196 shares of the utilities provider’s stock valued at $26,000 after buying an additional 103 shares during the period. ORG Partners LLC increased its holdings in shares of American Water Works by 79.2% in the 4th quarter. ORG Partners LLC now owns 233 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 103 shares during the period. Turtle Creek Wealth Advisors LLC bought a new position in shares of American Water Works in the 4th quarter worth $35,000. Key Financial Inc lifted its stake in shares of American Water Works by 266.7% during the 4th quarter. Key Financial Inc now owns 275 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 200 shares during the last quarter. Finally, Cetera Trust Company N.A bought a new stake in American Water Works during the fourth quarter valued at about $40,000. 86.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. StockNews.com downgraded shares of American Water Works from a “hold” rating to a “sell” rating in a report on Wednesday, April 3rd. Evercore ISI lowered shares of American Water Works from an “outperform” rating to an “in-line” rating and reduced their price objective for the stock from $160.00 to $135.00 in a research note on Friday, February 16th.

View Our Latest Research Report on American Water Works

Insider Activity at American Water Works

In other American Water Works news, EVP Melanie M. Kennedy sold 843 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $119.59, for a total transaction of $100,814.37. Following the sale, the executive vice president now owns 16,240 shares in the company, valued at approximately $1,942,141.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.08% of the stock is owned by insiders.

American Water Works Trading Up 1.1 %

American Water Works stock opened at $134.38 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.79 and a current ratio of 0.85. The stock has a market cap of $26.18 billion, a PE ratio of 27.26, a price-to-earnings-growth ratio of 3.07 and a beta of 0.62. The stock has a 50-day moving average of $120.36 and a two-hundred day moving average of $124.68. American Water Works Company, Inc. has a one year low of $113.34 and a one year high of $151.24.

American Water Works (NYSE:AWKGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.95 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.03). The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $962.30 million. American Water Works had a net margin of 22.27% and a return on equity of 9.74%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 earnings per share. On average, research analysts anticipate that American Water Works Company, Inc. will post 5.24 EPS for the current fiscal year.

American Water Works Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Tuesday, May 14th will be issued a dividend of $0.765 per share. The ex-dividend date is Monday, May 13th. This is a positive change from American Water Works’s previous quarterly dividend of $0.71. This represents a $3.06 dividend on an annualized basis and a dividend yield of 2.28%. American Water Works’s payout ratio is 57.40%.

American Water Works Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding AWK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Water Works Company, Inc. (NYSE:AWKFree Report).

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Source: defenseworld.net

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