American Water Works Company, Inc. (NYSE:AWK) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. cut its stake in American Water Works Company, Inc. (NYSE:AWK) by 4.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,148 shares of the utilities provider’s stock after selling 2,235 shares during the quarter. Corebridge Financial Inc.’s holdings in American Water Works were worth $5,745,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of AWK. Crews Bank & Trust purchased a new stake in shares of American Water Works during the 4th quarter valued at about $26,000. Providence First Trust Co purchased a new stake in shares of American Water Works during the fourth quarter valued at approximately $27,000. Whipplewood Advisors LLC acquired a new position in shares of American Water Works during the fourth quarter worth $28,000. EverSource Wealth Advisors LLC boosted its stake in shares of American Water Works by 54.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 293 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 103 shares during the period. Finally, Flagship Wealth Advisors LLC acquired a new stake in American Water Works during the 4th quarter valued at $47,000. Institutional investors and hedge funds own 86.58% of the company’s stock.

American Water Works Price Performance

Shares of NYSE AWK opened at $146.28 on Friday. The company has a current ratio of 0.39, a quick ratio of 0.35 and a debt-to-equity ratio of 1.21. The company has a market capitalization of $28.52 billion, a price-to-earnings ratio of 27.14, a price-to-earnings-growth ratio of 2.80 and a beta of 0.69. American Water Works Company, Inc. has a twelve month low of $113.34 and a twelve month high of $152.07. The business has a 50 day simple moving average of $133.12 and a 200-day simple moving average of $134.39.

American Water Works (NYSE:AWK) last released its earnings results on Wednesday, February 19th. The utilities provider reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.09. American Water Works had a net margin of 22.44% and a return on equity of 10.29%. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.11 billion. As a group, equities research analysts expect that American Water Works Company, Inc. will post 5.71 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Wells Fargo & Company upped their price objective on shares of American Water Works from $133.00 to $142.00 and gave the company an “equal weight” rating in a research report on Thursday, March 13th. JPMorgan Chase & Co. lowered their price objective on American Water Works from $147.00 to $128.00 and set a “neutral” rating for the company in a research note on Tuesday, January 28th. Finally, StockNews.com lowered American Water Works from a “hold” rating to a “sell” rating in a research report on Wednesday, March 19th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $141.86.

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.