Prudential Financial Inc. cut its stake in shares of American States Water Co (NYSE:AWR) by 3.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 113,582 shares of the utilities provider’s stock after selling 4,370 shares during the period. Prudential Financial Inc. owned approximately 0.31% of American States Water worth $6,944,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of AWR. AMP Capital Investors Ltd increased its position in American States Water by 16.1% during the 2nd quarter. AMP Capital Investors Ltd now owns 30,975 shares of the utilities provider’s stock worth $1,770,000 after purchasing an additional 4,304 shares during the period. BlackRock Inc. increased its position in American States Water by 8.0% during the 2nd quarter. BlackRock Inc. now owns 5,358,291 shares of the utilities provider’s stock worth $306,280,000 after purchasing an additional 398,815 shares during the period. TD Asset Management Inc. increased its position in American States Water by 15.3% during the 2nd quarter. TD Asset Management Inc. now owns 11,316 shares of the utilities provider’s stock worth $647,000 after purchasing an additional 1,500 shares during the period. Mainstay Capital Management LLC ADV increased its position in American States Water by 5,616.0% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 5,716 shares of the utilities provider’s stock worth $100,000 after purchasing an additional 5,616 shares during the period. Finally, Water Asset Management LLC acquired a new position in American States Water during the 2nd quarter worth approximately $3,395,000. 71.24% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have issued reports on AWR shares. Wells Fargo & Co dropped their target price on American States Water from $54.00 to $52.00 and set an “underperform” rating on the stock in a research report on Friday, August 24th. Zacks Investment Research upgraded American States Water from a “sell” rating to a “hold” rating in a research report on Thursday, August 16th. Finally, Evercore ISI started coverage on American States Water in a research report on Monday, September 17th. They set an “underperform” rating and a $54.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $53.50.
NYSE AWR opened at $66.27 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.90 and a current ratio of 0.94. American States Water Co has a 12-month low of $50.06 and a 12-month high of $68.71. The company has a market cap of $2.43 billion, a price-to-earnings ratio of 38.61, a price-to-earnings-growth ratio of 6.38 and a beta of 0.11.
American States Water (NYSE:AWR) last released its quarterly earnings results on Monday, November 5th. The utilities provider reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. The business had revenue of $124.20 million for the quarter, compared to analysts’ expectations of $133.64 million. American States Water had a return on equity of 11.75% and a net margin of 14.64%. The company’s revenue was down .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.57 EPS. As a group, equities research analysts forecast that American States Water Co will post 1.73 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, December 3rd. Investors of record on Thursday, November 15th were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date was Wednesday, November 14th. American States Water’s dividend payout ratio is currently 64.33%.
In related news, VP Granville R. Hodges, Jr. sold 1,932 shares of the company’s stock in a transaction that occurred on Monday, November 12th. The stock was sold at an average price of $64.47, for a total value of $124,556.04. Following the sale, the vice president now owns 13,265 shares in the company, valued at approximately $855,194.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Anne M. Holloway sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, November 20th. The stock was sold at an average price of $67.04, for a total value of $33,520.00. Following the completion of the sale, the director now owns 38,763 shares in the company, valued at approximately $2,598,671.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,332 shares of company stock worth $215,058. Insiders own 1.41% of the company’s stock.
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About American States Water
American States Water Company, through its subsidiaries, provides water and electric services to residential, industrial, and other customers in the United States. It operates through three segments: Water, Electric, and Contracted Services. The company purchases, produces, distributes, and sells water, as well as distributes electricity.
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