SouthState Corp Sells 100 Shares of American Water Works Company, Inc. (NYSE:AWK)

SouthState Corp cut its holdings in American Water Works Company, Inc. (NYSE:AWK) by 2.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,388 shares of the utilities provider’s stock after selling 100 shares during the period. SouthState Corp’s holdings in American Water Works were worth $495,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Wulff Hansen & CO. grew its holdings in American Water Works by 12,816.0% during the second quarter. Wulff Hansen & CO. now owns 1,464,674 shares of the utilities provider’s stock valued at $189,177,000 after purchasing an additional 1,453,334 shares during the period. Victory Capital Management Inc. lifted its position in shares of American Water Works by 1,131.1% during the third quarter. Victory Capital Management Inc. now owns 1,438,137 shares of the utilities provider’s stock worth $210,313,000 after acquiring an additional 1,321,320 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of American Water Works by 14,944.4% in the third quarter. International Assets Investment Management LLC now owns 537,987 shares of the utilities provider’s stock worth $786,750,000 after buying an additional 534,411 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of American Water Works by 631.4% in the third quarter. Assenagon Asset Management S.A. now owns 445,788 shares of the utilities provider’s stock worth $65,192,000 after buying an additional 384,836 shares in the last quarter. Finally, Sei Investments Co. raised its position in shares of American Water Works by 201.9% in the second quarter. Sei Investments Co. now owns 435,604 shares of the utilities provider’s stock worth $56,264,000 after buying an additional 291,315 shares in the last quarter. 86.58% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on AWK shares. 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. Jefferies Financial Group started coverage on American Water Works in a research note on Monday, October 7th. They issued an “underperform” rating and a $124.00 target price on the stock. Mizuho cut American Water Works from an “outperform” rating to a “neutral” rating and lifted their price objective for the company from $131.00 to $140.00 in a research report on Tuesday, October 15th. UBS Group raised American Water Works from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $151.00 to $155.00 in a research report on Tuesday. Finally, Wolfe Research upgraded shares of American Water Works to a “hold” rating in a report on Wednesday, September 18th. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, American Water Works presently has an average rating of “Hold” and an average target price of $142.29.

Insider Activity

In other American Water Works news, Director Martha Clark Goss sold 710 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were 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 1.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.08% of the company’s stock.

American Water Works Stock Up 1.1 %

Shares of NYSE AWK opened at $138.19 on Wednesday. The firm’s 50-day moving average price is $140.62 and its 200-day moving average price is $137.63. 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 stock has a market capitalization of $26.93 billion, a price-to-earnings ratio of 27.36, a P/E/G ratio of 3.12 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.

American Water Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.765 per share. This represents a $3.06 annualized dividend and a dividend yield of 2.21%. The ex-dividend date is Tuesday, November 12th. American Water Works’s dividend payout ratio is 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.