Mirae Asset Global Investments Co. Ltd. Acquires 5,657 Shares of American Water Works Company, Inc. (NYSE:AWK)

Mirae Asset Global Investments Co. Ltd. lifted its position in American Water Works Company, Inc. (NYSE:AWK - Free Report) by 36.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,171 shares of the utilities provider's stock after purchasing an additional 5,657 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in American Water Works were worth $2,648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Lake Street Advisors Group LLC increased 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. IHT Wealth Management LLC boosted its stake in shares of American Water Works by 1.2% in the third quarter. IHT Wealth Management LLC now owns 6,424 shares of the utilities provider's stock worth $938,000 after acquiring an additional 76 shares during the period. Invesco LLC grew its position in shares of American Water Works by 3.4% during the third quarter. Invesco LLC now owns 2,467 shares of the utilities provider's stock worth $361,000 after purchasing an additional 82 shares in the last quarter. Assetmark Inc. raised its stake in American Water Works by 31.7% during the 3rd 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 period. Finally, Brookfield Corp ON lifted its holdings in American Water Works by 0.3% in the 3rd quarter. Brookfield Corp ON now owns 32,601 shares of the utilities provider's stock worth $4,768,000 after purchasing an additional 89 shares in the last quarter. 86.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AWK. Wells Fargo & Company raised shares of American Water Works from an "underweight" rating to an "equal weight" rating and cut their price objective for the company from $133.00 to $129.00 in a report on Tuesday, January 7th. JPMorgan Chase & Co. decreased their price target on shares of American Water Works from $147.00 to $128.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 28th. Finally, UBS Group raised American Water Works from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $151.00 to $155.00 in a report on Tuesday, November 19th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, American Water Works has an average rating of "Hold" and an average price target of $139.38.

American Water Works Trading Up 1.4 %

Shares of NYSE AWK traded up $1.77 during mid-day trading on Thursday, reaching $126.79. The company had a trading volume of 3,304,501 shares, compared to its average volume of 1,191,403. American Water Works Company, Inc. has a 52 week low of $113.34 and a 52 week high of $150.68. The business's 50-day moving average is $125.38 and its 200-day moving average is $135.47. The stock has a market cap of $24.71 billion, a price-to-earnings ratio of 25.11, a price-to-earnings-growth ratio of 2.62 and a beta of 0.72. The company has a current ratio of 0.58, a quick ratio of 0.53 and a debt-to-equity ratio of 1.21.

American Water Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Friday, February 7th will be paid a dividend of $0.765 per share. This represents a $3.06 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend is Friday, February 7th. American Water Works's dividend 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.