Miracle Mile Advisors LLC increased its holdings in shares of American Water Works Company, Inc. (NYSE:AWK – Free Report) by 279.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,582 shares of the utilities provider’s stock after purchasing an additional 7,792 shares during the period. Miracle Mile Advisors LLC’s holdings in American Water Works were worth $1,317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently made changes to their positions in the business. Lake Street Advisors Group LLC raised its holdings in shares of American Water Works by 4.2% during the third quarter. Lake Street Advisors Group LLC now owns 1,858 shares of the utilities provider’s stock worth $272,000 after purchasing an additional 75 shares during the last quarter. IHT Wealth Management LLC grew its position in American Water Works by 1.2% during the third quarter. IHT Wealth Management LLC now owns 6,424 shares of the utilities provider’s stock valued at $938,000 after buying an additional 76 shares during the period. Invesco LLC grew 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 buying an additional 82 shares during the period. Assetmark Inc. grew its position in American Water Works by 31.7% during the third quarter. Assetmark Inc. now owns 370 shares of the utilities provider’s stock valued at $54,000 after buying an additional 89 shares during the period. Finally, Brookfield Corp ON grew its position in American Water Works by 0.3% during the third quarter. Brookfield Corp ON now owns 32,601 shares of the utilities provider’s stock valued at $4,768,000 after buying an additional 89 shares during the period. Hedge funds and other institutional investors own 86.58% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts recently commented on AWK shares. UBS Group upgraded shares of American Water Works from a “neutral” rating to a “buy” rating and raised their price target for the company from $151.00 to $155.00 in a research report on Tuesday, November 19th. Wells Fargo & Company upgraded shares of American Water Works from an “underweight” rating to an “equal weight” rating and dropped their price target for the company from $133.00 to $129.00 in a research report on Tuesday, January 7th. Royal Bank of Canada restated an “outperform” rating and set a $164.00 price target on shares of American Water Works in a research report on Thursday, September 19th. Bank of America restated an “underperform” rating and set a $140.00 price target on shares of American Water Works in a research report on Friday, September 20th. Finally, Wolfe Research upgraded shares of American Water Works to a “hold” rating in a research report on Wednesday, September 18th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $141.00.
American Water Works Stock Up 1.3 %
Shares of NYSE AWK opened at $122.57 on Wednesday. The firm has a market cap of $23.89 billion, a price-to-earnings ratio of 24.27, a price-to-earnings-growth ratio of 3.03 and a beta of 0.71. American Water Works Company, Inc. has a 52-week low of $113.34 and a 52-week high of $150.68. The company’s 50-day simple moving average is $129.96 and its 200-day simple moving average is $137.13. The company has a quick ratio of 0.53, a current ratio of 0.58 and a debt-to-equity ratio of 1.21.
American Water Works Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Friday, February 7th will be given a dividend of $0.765 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $3.06 dividend on an annualized basis and a yield of 2.50%. American Water Works’s payout ratio is presently 60.59%.
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.
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