Sumitomo Life Insurance Co. Reduces Stake in American Water Works Company, Inc. (NYSE:AWK)

Sumitomo Life Insurance Co. trimmed its position in shares of American Water Works Company, Inc. (NYSE:AWK) by 3.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,609 shares of the utilities provider’s stock after selling 176 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in American Water Works were worth $574,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Catalyst Capital Advisors LLC boosted its position in shares of American Water Works by 155.6% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 299 shares of the utilities provider’s stock worth $44,000 after buying an additional 182 shares in the last quarter. Rosenberg Matthew Hamilton raised its position in American Water Works by 29.0% during the fourth quarter. Rosenberg Matthew Hamilton now owns 400 shares of the utilities provider’s stock worth $50,000 after acquiring an additional 90 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of American Water Works in the third quarter valued at about $51,000. Assetmark Inc. grew its position in shares of American Water Works by 31.7% in the third quarter. Assetmark Inc. now owns 370 shares of the utilities provider’s stock valued at $54,000 after purchasing an additional 89 shares during the last quarter. Finally, Raleigh Capital Management Inc. increased its stake in shares of American Water Works by 446.2% during the 3rd quarter. Raleigh Capital Management Inc. now owns 426 shares of the utilities provider’s stock worth $62,000 after purchasing an additional 348 shares in the last quarter. Institutional investors and hedge funds own 86.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AWK. Jefferies Financial Group initiated coverage on American Water Works in a report on Monday, October 7th. They set an “underperform” rating and a $124.00 target price on the stock. Wells Fargo & Company raised American Water Works from an “underweight” rating to an “equal weight” rating and decreased their price objective for the company from $133.00 to $129.00 in a research note on Tuesday, January 7th. JPMorgan Chase & Co. cut their target price on shares of American Water Works from $147.00 to $128.00 and set a “neutral” rating for the company in a research note on Tuesday. Mizuho cut shares of American Water Works from an “outperform” rating to a “neutral” rating and raised their price target for the stock from $131.00 to $140.00 in a research note on Tuesday, October 15th. Finally, UBS Group raised shares of American Water Works from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $151.00 to $155.00 in a research report on Tuesday, November 19th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $139.38.

American Water Works Price Performance

American Water Works stock opened at $123.56 on Friday. American Water Works Company, Inc. has a 1 year low of $113.34 and a 1 year high of $150.68. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.53 and a current ratio of 0.58. The firm has a 50 day moving average price of $127.84 and a 200 day moving average price of $136.63. The company has a market cap of $24.08 billion, a price-to-earnings ratio of 24.47, a PEG ratio of 2.62 and a beta of 0.71.

American Water Works Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Friday, February 7th will be given a $0.765 dividend. This represents a $3.06 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend is Friday, February 7th. American Water Works’s dividend payout ratio (DPR) is currently 60.59%.

About American Water Works

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.