Water Asset Management LLC Takes Position in American States Water Co (AWR)
Water Asset Management LLC acquired a new position in shares of American States Water Co (NYSE:AWR) in the 2nd quarter, Holdings Channel reports. The firm acquired 59,402 shares of the utilities provider’s stock, valued at approximately $3,395,000. American States Water comprises approximately 4.1% of Water Asset Management LLC’s portfolio, making the stock its 5th largest holding.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bruderman Asset Management LLC purchased a new stake in American States Water during the 1st quarter worth approximately $126,000. Sei Investments Co. grew its position in American States Water by 181.2% during the 1st quarter. Sei Investments Co. now owns 2,714 shares of the utilities provider’s stock worth $144,000 after purchasing an additional 1,749 shares during the last quarter. SG Americas Securities LLC purchased a new stake in American States Water during the 1st quarter worth approximately $176,000. Eldridge Investment Advisors Inc. purchased a new stake in American States Water during the 2nd quarter worth approximately $200,000. Finally, Violich Capital Management Inc. purchased a new stake in American States Water during the 2nd quarter worth approximately $202,000. Hedge funds and other institutional investors own 73.65% of the company’s stock.
Several research firms have weighed in on AWR. Zacks Investment Research raised shares of American States Water from a “sell” rating to a “hold” rating in a research report on Monday, August 27th. Wells Fargo & Co dropped their target price on shares of 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.
American States Water (NYSE:AWR) last released its quarterly earnings data on Monday, August 6th. The utilities provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.03). The business had revenue of $106.90 million during the quarter, compared to analysts’ expectations of $114.80 million. American States Water had a net margin of 14.18% and a return on equity of 11.55%. The firm’s revenue was down 5.6% on a year-over-year basis. During the same period last year, the company earned $0.62 earnings per share. equities research analysts expect that American States Water Co will post 1.72 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 31st. Stockholders of record on Wednesday, August 15th were issued a $0.275 dividend. This is an increase from American States Water’s previous quarterly dividend of $0.26. This represents a $1.10 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend was Tuesday, August 14th. American States Water’s dividend payout ratio is 64.33%.
In other news, Director Lloyd E. Ross sold 600 shares of the company’s stock in a transaction on Thursday, July 5th. The shares were sold at an average price of $58.56, for a total value of $35,136.00. Following the sale, the director now directly owns 49,607 shares of the company’s stock, valued at approximately $2,904,985.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James F. Mcnulty sold 8,897 shares of the company’s stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $60.81, for a total transaction of $541,026.57. Following the completion of the sale, the director now directly owns 18,278 shares in the company, valued at $1,111,485.18. The disclosure for this sale can be found here. Insiders sold a total of 14,078 shares of company stock worth $853,663 over the last ninety days. Insiders own 1.41% of the company’s stock.
American States Water Company Profile
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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