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

Corebridge Financial Inc. lessened its stake in American Water Works Company, Inc. (NYSE:AWK) by 4.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor 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 reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in AWK. Victory Capital Management Inc. raised its stake in shares of American Water Works by 120.7% in the 4th quarter. Victory Capital Management Inc. now owns 3,174,395 shares of the utilities provider’s stock worth $395,180,000 after buying an additional 1,736,258 shares in the last quarter. Groupama Asset Managment raised its position in American Water Works by 4,227.0% in the third quarter. Groupama Asset Managment now owns 711,927 shares of the utilities provider’s stock worth $104,000 after acquiring an additional 695,474 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in American Water Works in the 4th quarter valued at about $71,120,000. Amundi boosted its position in shares of American Water Works by 11.9% during the 4th quarter. Amundi now owns 4,490,423 shares of the utilities provider’s stock valued at $553,687,000 after purchasing an additional 477,411 shares in the last quarter. Finally, Confluence Investment Management LLC grew its stake in shares of American Water Works by 268.0% in the 4th quarter. Confluence Investment Management LLC now owns 537,138 shares of the utilities provider’s stock worth $66,868,000 after purchasing an additional 391,166 shares during the last quarter. 86.58% of the stock is currently owned by institutional investors.

American Water Works Price Performance

Shares of NYSE:AWK opened at $146.28 on Friday. The company’s fifty day moving average is $133.12 and its two-hundred day moving average is $134.39. The company has a market cap of $28.52 billion, a P/E 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 12-month low of $113.34 and a 12-month high of $152.07. The company has a quick ratio of 0.35, a current ratio of 0.39 and a debt-to-equity ratio of 1.21.

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

Analyst Ratings Changes

AWK has been the subject of a number of research reports. Wells Fargo & Company raised their target price on shares of American Water Works from $133.00 to $142.00 and gave the stock an “equal weight” rating in a report on Thursday, March 13th. JPMorgan Chase & Co. reduced 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 downgraded American Water Works from a “hold” rating to a “sell” rating in a report on Wednesday, March 19th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, American Water Works has an average rating of “Hold” and a consensus price target of $141.86.

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.