American States Water Co. (AWR) Sees Large Volume Increase
Shares of American States Water Co. (NYSE:AWR) saw an uptick in trading volume on Thursday . 275,798 shares traded hands during trading, an increase of 75% from the previous session’s volume of 158,005 shares.The stock last traded at $40.87 and had previously closed at $40.13.
Several brokerages have recently commented on AWR. Barclays PLC restated a “sell” rating on shares of American States Water in a report on Sunday, May 22nd. Zacks Investment Research raised American States Water from a “sell” rating to a “hold” rating in a research note on Tuesday, July 12th. Janney Montgomery Scott raised American States Water from a “sell” rating to a “neutral” rating and upped their price target for the company from $35.00 to $39.00 in a research note on Friday, August 5th. Finally, Ladenburg Thalmann raised American States Water from a “sell” rating to a “neutral” rating and cut their price target for the company from $40.00 to $39.00 in a research note on Wednesday, May 11th.
The company has a market cap of $1.49 billion and a PE ratio of 25.31. The firm’s 50-day moving average is $42.46 and its 200-day moving average is $41.55.
American States Water (NYSE:AWR) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.01. The company earned $111.95 million during the quarter, compared to analyst estimates of $113.01 million. During the same period in the prior year, the firm earned $0.41 earnings per share. American States Water’s revenue was down 2.3% on a year-over-year basis. On average, equities research analysts expect that American States Water Co. will post $1.63 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Monday, August 15th will be issued a $0.224 dividend. The ex-dividend date of this dividend is Thursday, August 11th. This represents a $0.90 annualized dividend and a yield of 2.20%.
In other American States Water news, CEO Robert J. Sprowls sold 4,342 shares of American States Water stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $44.00, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
An institutional investor recently raised its position in American States Water stock. KBC Group NV increased its stake in shares of American States Water Co. (NYSE:AWR) by 65.7% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 97,488 shares of the company’s stock after buying an additional 38,654 shares during the period. KBC Group NV owned about 0.27% of American States Water worth $4,090,000 as of its most recent filing with the SEC.
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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