Is Investing in American Water Works (AWK) a Smart Investment Move?

ClearBridge Investments, an investment management company, released its “ClearBridge Global Infrastructure Value Strategy” second quarter 2022 investor letter. A copy of the letter can be downloaded here. In the second quarter, the fund underperformed relative to the S&P Global Infrastructure Index. Utilities with clean energy portfolios contributed positively to the fund’s performance but fears of recession affected the rail companies. For more information on the fund’s best picks in 2022, please check its top five holdings.

In the letter, ClearBridge Investments discussed the performance of the ClearBridge Global Infrastructure Value Strategy portfolio. The letter discussed stocks like American Water Works Company, Inc. (NYSE:AWK). American Water Works Company, Inc. (NYSE:AWK) is an American water and wastewater services company, headquartered in Camden, New Jersey, and has a market capitalization of $28.244 billion. The stock of American Water Works Company, Inc. (NYSE:AWK)  closed at $155.37 per share on August 9, 2022. One-month return of American Water Works Company, Inc. (NYSE:AWK)  rose to 4.96% and its shares lost 11.73% of their value over the last 52 weeks.

Here’s what ClearBridge Investments specifically said about American Water Works Company, Inc. (NYSE:AWK) :

“We were active in positioning the portfolio during a volatile market, taking advantage of an attractive entry-point to buy American Water Works Company, Inc. (NYSE:AWK), which owns a high-quality regulated U.S. water utility portfolio, with above average EPS growth outlook driven by upgrade and expansion capex and tuck-in acquisitions.”

American Water Works Company, Inc. (NYSE:AWK) is not on the list of  30 Most Popular Stocks Among Hedge Funds. As per our database, American Water Works Company, Inc. (NYSE:AWK) was held by 33 hedge fund portfolios at the end of the first quarter, up from 31 in the previous quarter.

We discussed American Water Works Company, Inc. (NYSE:AWK) in another article and shared James Katz’s Humankind Investments’ views on the stock. You can check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other prominent investors.

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