Spire Wealth Management Cuts Holdings in American Water Works Company, Inc. (NYSE:AWK)

Spire Wealth Management decreased its holdings in American Water Works Company, Inc. (NYSE:AWK) by 4.5% in the fourth quarter, Holdings Channel reports. The fund owned 13,141 shares of the utilities provider’s stock after selling 617 shares during the quarter. Spire Wealth Management’s holdings in American Water Works were worth $1,636,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Lake Street Advisors Group LLC grew its holdings in American Water Works by 4.2% in the third quarter. Lake Street Advisors Group LLC now owns 1,858 shares of the utilities provider’s stock worth $272,000 after purchasing an additional 75 shares during the last quarter. IHT Wealth Management LLC grew its holdings in 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 purchasing an additional 76 shares during the last quarter. Miracle Mile Advisors LLC lifted its stake in shares of American Water Works by 2.9% during the third quarter. Miracle Mile Advisors LLC now owns 2,790 shares of the utilities provider’s stock worth $408,000 after buying an additional 79 shares during the period. Invesco LLC lifted its stake 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 buying an additional 82 shares during the period. Finally, Assetmark Inc. lifted its stake in shares of American Water Works by 31.7% during the third quarter. Assetmark Inc. now owns 370 shares of the utilities provider’s stock worth $54,000 after buying an additional 89 shares during the period. Institutional investors own 86.58% of the company’s stock.

American Water Works Stock Up 1.0 %

Shares of NYSE AWK opened at $125.84 on Tuesday. 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 cap of $24.52 billion, a PE ratio of 24.92, a P/E/G ratio of 2.63 and a beta of 0.71. The company has a 50-day moving average of $127.29 and a 200 day moving average of $136.40. 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Friday, February 7th will be issued a $0.765 dividend. The ex-dividend date is Friday, February 7th. This represents a $3.06 annualized dividend and a yield of 2.43%. American Water Works’s payout ratio is 60.59%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their price objective 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, January 28th. UBS Group upgraded shares of American Water Works from a “neutral” rating to a “buy” rating and boosted their target price for the company from $151.00 to $155.00 in a research report on Tuesday, November 19th. Wells Fargo & Company upgraded shares of American Water Works from an “underweight” rating to an “equal weight” rating and decreased their price objective for the stock from $133.00 to $129.00 in a research report on Tuesday, January 7th. Mizuho downgraded shares of American Water Works from an “outperform” rating to a “neutral” rating and upped their price objective for the stock from $131.00 to $140.00 in a research report on Tuesday, October 15th. Finally, Jefferies Financial Group started coverage on shares of American Water Works in a research note on Monday, October 7th. They set an “underperform” rating and a $124.00 target price for the company. Three investment 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’s stock. According to MarketBeat.com, American Water Works currently has an average rating of “Hold” and a consensus target price of $139.38.

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.