W.H. Cornerstone Investments Inc. Sells 339 Shares of American Water Works Company, Inc. (NYSE:AWK)

W.H. Cornerstone Investments Inc. lessened its holdings in shares of American Water Works Company, Inc. (NYSE:AWK) by 16.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,688 shares of the utilities provider’s stock after selling 339 shares during the quarter. W.H. Cornerstone Investments Inc.’s holdings in American Water Works were worth $247,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Lake Street Advisors Group LLC grew its stake in American Water Works by 4.2% in the 3rd quarter. Lake Street Advisors Group LLC now owns 1,858 shares of the utilities provider’s stock worth $272,000 after buying an additional 75 shares in the last quarter. Miracle Mile Advisors LLC increased its stake in American Water Works by 2.9% in the third quarter. Miracle Mile Advisors LLC now owns 2,790 shares of the utilities provider’s stock valued at $408,000 after acquiring an additional 79 shares during the last quarter. Invesco LLC raised its position in American Water Works by 3.4% during the third quarter. Invesco LLC now owns 2,467 shares of the utilities provider’s stock valued at $361,000 after purchasing an additional 82 shares in the last quarter. Asset Dedication LLC lifted its stake in American Water Works by 1.6% during the second quarter. Asset Dedication LLC now owns 5,415 shares of the utilities provider’s stock worth $699,000 after purchasing an additional 85 shares during the last quarter. Finally, Moody National Bank Trust Division boosted its holdings in shares of American Water Works by 2.0% in the 2nd quarter. Moody National Bank Trust Division now owns 4,590 shares of the utilities provider’s stock worth $593,000 after purchasing an additional 88 shares in the last quarter. Hedge funds and other institutional investors own 86.58% of the company’s stock.

Insider Activity

In related news, Director Martha Clark Goss sold 710 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $142.85, for a total value of $101,423.50. Following the completion of the sale, the director now owns 36,880 shares of the company’s stock, valued at $5,268,308. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on AWK shares. Jefferies Financial Group began coverage on American Water Works in a research report on Monday, October 7th. They issued an “underperform” rating and a $124.00 target price for the company. Wolfe Research upgraded shares of American Water Works to a “hold” rating in a report on Wednesday, September 18th. Royal Bank of Canada reiterated an “outperform” rating and issued a $164.00 target price on shares of American Water Works in a research report on Thursday, September 19th. Mizuho lowered shares of American Water Works from an “outperform” rating to a “neutral” rating and upped their price target for the company from $131.00 to $140.00 in a research report on Tuesday, October 15th. Finally, Wells Fargo & Company downgraded American Water Works from an “equal weight” rating to an “underweight” rating and lifted their price objective for the stock from $127.00 to $138.00 in a report on Wednesday, July 31st. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $140.00.

American Water Works Stock Performance

Shares of NYSE:AWK opened at $135.30 on Tuesday. The company has a current ratio of 0.58, a quick ratio of 0.53 and a debt-to-equity ratio of 1.21. The company has a market cap of $26.37 billion, a price-to-earnings ratio of 26.79, a price-to-earnings-growth ratio of 3.27 and a beta of 0.70. American Water Works Company, Inc. has a 12 month low of $113.34 and a 12 month high of $150.68. The company has a 50-day moving average price of $142.61 and a 200-day moving average price of $136.68.

American Water Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 12th will be issued a $0.765 dividend. This represents a $3.06 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Tuesday, November 12th. American Water Works’s dividend payout ratio (DPR) is currently 60.59%.

American Water Works 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.