PNC Financial Services Group Inc. Cuts Position in American Water Works Company, Inc. (NYSE:AWK)

PNC Financial Services Group Inc. lessened its stake in shares of American Water Works Company, Inc. (NYSE:AWK - Free Report) by 0.6% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 659,615 shares of the utilities provider's stock after selling 3,758 shares during the quarter. PNC Financial Services Group Inc. owned about 0.34% of American Water Works worth $96,462,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. ORG Partners LLC acquired a new position in American Water Works in the second quarter valued at about $30,000. Catalyst Capital Advisors LLC raised its stake in American Water Works by 155.6% during the third quarter. Catalyst Capital Advisors LLC now owns 299 shares of the utilities provider's stock worth $44,000 after acquiring an additional 182 shares in the last quarter. Hantz Financial Services Inc. acquired a new stake in shares of American Water Works in the 2nd quarter valued at approximately $46,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of American Water Works during the 2nd quarter valued at approximately $50,000. Finally, Ashton Thomas Securities LLC acquired a new position in American Water Works during the 3rd quarter worth approximately $51,000. 86.58% of the stock is currently owned by institutional investors and hedge funds.

American Water Works Trading Down 0.2 %

NYSE:AWK traded down $0.31 on Wednesday, reaching $137.89. 1,096,274 shares of the stock traded hands, compared to its average volume of 1,200,020. The firm has a market capitalization of $26.87 billion, a price-to-earnings ratio of 27.31, a price-to-earnings-growth ratio of 3.12 and a beta of 0.70. 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 current ratio of 0.58, a quick ratio of 0.53 and a debt-to-equity ratio of 1.21. The company's 50 day moving average is $140.43 and its 200-day moving average is $137.63.

American Water Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 12th will be issued a $0.765 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $3.06 dividend on an annualized basis and a yield of 2.22%. American Water Works's payout ratio is currently 60.59%.

Insider Activity

In related news, Director Martha Clark Goss sold 710 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $142.85, for a total value of $101,423.50. Following the transaction, the director now directly owns 36,880 shares in the company, valued at $5,268,308. This trade represents a 1.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.08% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have weighed in on AWK shares. Wolfe Research raised shares of American Water Works to a "hold" rating in a research note on Wednesday, September 18th. Wells Fargo & Company cut American Water Works from an "equal weight" rating to an "underweight" rating and upped their target price for the stock from $127.00 to $138.00 in a report on Wednesday, July 31st. Bank of America reissued an "underperform" rating and set a $140.00 price target on shares of American Water Works in a research note on Friday, September 20th. UBS Group upgraded shares of American Water Works from a "neutral" rating to a "buy" rating and raised their price objective for the company from $151.00 to $155.00 in a report on Tuesday. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $164.00 target price on shares of American Water Works in a report on Thursday, September 19th. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, American Water Works has a consensus rating of "Hold" and a consensus target price of $142.29.

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.