Ameriprise Financial Inc. Has $9,774,000 Stake in American States Water Co. (AWR)
Ameriprise Financial Inc. cut its stake in American States Water Co. (NYSE:AWR) by 1.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 223,065 shares of the company’s stock after selling 2,442 shares during the period. Ameriprise Financial Inc. owned about 0.61% of American States Water worth $9,774,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GW Henssler & Associates Ltd. bought a new position in American States Water during the second quarter valued at approximately $206,000. Tokio Marine Asset Management Co. Ltd. acquired a new position in shares of American States Water during the second quarter worth about $245,000. IFP Advisors Inc increased its position in shares of American States Water by 191.7% in the first quarter. IFP Advisors Inc now owns 6,268 shares of the company’s stock worth $247,000 after buying an additional 4,119 shares in the last quarter. Quantbot Technologies LP increased its position in shares of American States Water by 5.8% in the second quarter. Quantbot Technologies LP now owns 6,847 shares of the company’s stock worth $300,000 after buying an additional 374 shares in the last quarter. Finally, Princeton Alpha Management LP acquired a new position in shares of American States Water during the second quarter worth about $331,000. Hedge funds and other institutional investors own 63.65% of the company’s stock.
American States Water Co. (NYSE:AWR) traded up 1.29% during mid-day trading on Friday, reaching $40.05. The company’s stock had a trading volume of 193,541 shares. The stock has a market cap of $1.46 billion, a P/E ratio of 24.89 and a beta of 0.40. American States Water Co. has a one year low of $37.28 and a one year high of $47.24. The firm’s 50 day moving average is $39.88 and its 200-day moving average is $40.72.
American States Water (NYSE:AWR) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.44 by $0.01. American States Water had a net margin of 13.28% and a return on equity of 12.76%. The business earned $111.95 million during the quarter, compared to the consensus estimate of $113.01 million. During the same quarter in the prior year, the firm earned $0.41 EPS. The business’s revenue was down 2.3% on a year-over-year basis. Equities analysts expect that American States Water Co. will post $1.63 earnings per share for the current fiscal year.
A number of brokerages recently issued reports on AWR. Zacks Investment Research upgraded American States Water from a “sell” rating to a “hold” rating in a report on Tuesday, July 12th. Barclays PLC reduced their price target on American States Water from $44.00 to $39.00 and set an “underweight” rating on the stock in a report on Tuesday, September 6th. Finally, Janney Montgomery Scott upgraded American States Water from a “sell” rating to a “neutral” rating and boosted their price target for the company from $35.00 to $39.00 in a report on Friday, August 5th.
In related news, Director Anne M. Holloway sold 986 shares of the stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $40.01, for a total value of $39,449.86. Following the completion of the transaction, the director now owns 41,583 shares of the company’s stock, valued at approximately $1,663,735.83. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Robert J. Sprowls sold 4,342 shares of the stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $44.00, for a total transaction of $191,048.00. Following the completion of the transaction, the chief executive officer now directly owns 91,874 shares of the company’s stock, valued at approximately $4,042,456. The disclosure for this sale can be found here. Company insiders own 1.43% of the company’s stock.
About American States Water
American States Water Company (AWR) is a holding company. The Company is the parent company of Golden State Water Company (GSWC) and American States Utility Services, Inc (ASUS), as well as various subsidiaries of ASUS. The Company’s segments include water, electric and contracted services. Within the segments, AWR has two principal business units, water and electric service utility operations, conducted through GSWC, and contracted services conducted through ASUS and its subsidiaries.
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