American States Water Co. (NYSE:AWR)’s share price dropped 2.6% during mid-day trading on Friday . The stock traded as low as $39.67 and last traded at $39.67, with a volume of 88,038 shares changing hands. The stock had previously closed at $40.73.

AWR has been the subject of several recent research reports. Janney Montgomery Scott reiterated a “sell” rating and issued a $35.00 price objective (down previously from $36.00) on shares of American States Water in a research note on Friday, May 6th. Zacks Investment Research cut American States Water from a “buy” rating to a “hold” rating in a research note on Monday, May 9th. Ladenburg Thalmann upgraded American States Water from a “sell” rating to a “neutral” rating and decreased their price objective for the company from $40.00 to $39.00 in a research note on Wednesday, May 11th. Finally, Barclays PLC decreased their price objective on American States Water from $42.00 to $40.00 and set an “underweight” rating for the company in a research note on Friday, May 20th.

The firm has a 50 day moving average of $42.36 and a 200 day moving average of $41.51. The firm has a market cap of $1.44 billion and a price-to-earnings ratio of 24.49.

American States Water (NYSE:AWR) last released its earnings results on Wednesday, August 3rd. The company reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.01. The business earned $111.95 million during the quarter, compared to analyst estimates of $113.01 million. During the same quarter in the previous year, the company posted $0.41 earnings per share. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. On average, equities research analysts forecast that American States Water Co. will post $1.63 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Monday, August 15th will be paid a dividend of $0.224 per share. The ex-dividend date of this dividend is Thursday, August 11th. This represents a $0.90 annualized dividend and a yield of 2.27%.

In other American States Water news, CEO Robert J. Sprowls sold 4,342 shares of the company’s stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $44.00, for a total transaction of $191,048.00. Following the completion of the sale, the chief executive officer now directly owns 91,874 shares in the company, valued at $4,042,456. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anne M. Holloway sold 986 shares of the company’s stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $40.01, for a total value of $39,449.86. Following the sale, the director now owns 41,583 shares of the company’s stock, valued at $1,663,735.83. The disclosure for this sale can be found here.

An institutional investor recently raised its position in American States Water stock. Dimensional Fund Advisors LP boosted its stake in American States Water Co. (NYSE:AWR) by 3.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,236,381 shares of the company’s stock after buying an additional 38,627 shares during the period. Dimensional Fund Advisors LP owned approximately 3.37% of American States Water worth $51,867,000 as of its most recent SEC filing.

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.