American Water Works Company (AWK) Stock Gained on Acquisition Announcement

ClearBridge Investments, an investment management company, released its “ClearBridge Global Infrastructure Value Strategy” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, on a relative basis, the strategy underperformed as measured against the S&P Global Infrastructure Index. On an absolute basis, the strategy gained in seven of nine sectors in which it was invested in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

ClearBridge Global Infrastructure Value Strategy highlighted stocks like American Water Works Company, Inc. (NYSE:AWK) in the Q4 2022 investor letter. Headquartered in Camden, New Jersey, American Water Works Company, Inc. (NYSE:AWK) is a water and wastewater services provider. On March 2, 2023, American Water Works Company, Inc. (NYSE:AWK) stock closed at $138.56 per share. One-month return of American Water Works Company, Inc. (NYSE:AWK) was -11.53%, and its shares lost 13.96% of their value over the last 52 weeks. American Water Works Company, Inc. (NYSE:AWK) has a market capitalization of $25.213 billion.

ClearBridge Global Infrastructure Value Strategy made the following comment about American Water Works Company, Inc. (NYSE:AWK) in its Q4 2022 investor letter:

“Turning to the U.S. and Canada, U.S. electric utility PG&E and U.S. water company American Water Works Company, Inc. (NYSE:AWK) also made strong contributions. AWK provides water and wastewater utility services to customers across several states within the U.S. Shares did well after AWK announced the acquisition of a municipal facility, providing additional opportunities for growth.”

Photo by RephiLe water on Unsplash

American Water Works Company, Inc. (NYSE:AWK) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 31 hedge fund portfolios held American Water Works Company, Inc. (NYSE:AWK) at the end of the fourth quarter which was 35 in the previous quarter.

We discussed American Water Works Company, Inc. (NYSE:AWK) in another article and shared the list of most profitable utility stocks. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.