American Water Plans $48 Billion Investment Over Next Decade as Major Investor Cuts Stake by 48%
American Water celebrates 140 years and will invest $48 billion over the next decade in infrastructure, resiliency and regulated acquisitions while serving 14 million customers across 14 states. Assenagon Asset Management cut its stake by 48%, reducing its holding to 28,290 shares in the latest 13F filing.
1. 140th Anniversary and Milestones
Founded in 1886, American Water is marking its 140th year of providing water and wastewater services. The company also recognizes the 15th anniversary of its Charitable Foundation, which has distributed over $25 million in grants, and the 45th anniversary of its Research & Development Program supporting system safety and innovation.
2. $48B Investment Plan
Over the next decade, American Water will deploy up to $48 billion in infrastructure upgrades, resiliency enhancements and regulated acquisitions. The company serves 14 million customers in 14 states and on 18 military installations and added approximately 385,000 customers through acquisitions over the past ten years.
3. Assenagon Asset Management Stake Reduction
In the most recent SEC filing, Assenagon Asset Management reduced its position in American Water by 48%, selling 26,150 shares and retaining 28,290 shares. This move reflects a strategic portfolio adjustment by the asset manager.