State of Tennessee Treasury Department increased its holdings in shares of American States Water (NYSE:AWR – Get Rating) by 13.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,039 shares of the utilities provider's stock after purchasing an additional 3,575 shares during the quarter. State of Tennessee Treasury Department owned approximately 0.08% of American States Water worth $2,674,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the business. USA Financial Portformulas Corp increased its position in American States Water by 2,152.9% during the fourth quarter. USA Financial Portformulas Corp now owns 383 shares of the utilities provider's stock worth $40,000 after buying an additional 366 shares during the period. Covestor Ltd acquired a new position in American States Water during the fourth quarter worth approximately $69,000. Destiny Wealth Partners LLC increased its position in American States Water by 61.1% during the first quarter. Destiny Wealth Partners LLC now owns 1,036 shares of the utilities provider's stock worth $92,000 after buying an additional 393 shares during the period. UMB Bank N A MO acquired a new position in American States Water during the fourth quarter worth approximately $93,000. Finally, Aaron Wealth Advisors LLC acquired a new position in American States Water during the first quarter worth approximately $126,000. Hedge funds and other institutional investors own 72.04% of the company's stock.
Get American States Water alerts:American States Water Trading Down 1.9 %
NYSE:AWR opened at $84.77 on Friday. The firm has a market cap of $3.13 billion, a P/E ratio of 38.01 and a beta of 0.28. The company has a current ratio of 0.40, a quick ratio of 0.36 and a debt-to-equity ratio of 0.64. The stock's 50 day simple moving average is $84.02 and its 200-day simple moving average is $83.28. American States Water has a 12-month low of $71.22 and a 12-month high of $103.77.
American States Water (NYSE:AWR – Get Rating) last released its earnings results on Monday, August 1st. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.77 by ($0.13). American States Water had a net margin of 17.05% and a return on equity of 12.95%. During the same period last year, the business posted $0.72 earnings per share. Equities analysts anticipate that American States Water will post 2.54 EPS for the current year.American States Water Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Monday, August 15th will be issued a dividend of $0.3975 per share. This represents a $1.59 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Friday, August 12th. This is a positive change from American States Water's previous quarterly dividend of $0.37. American States Water's dividend payout ratio is currently 71.30%.
Analysts Set New Price Targets
Several research analysts have commented on AWR shares. Wells Fargo & Company lifted their price target on American States Water from $75.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 3rd. Barclays dropped their target price on American States Water from $88.00 to $80.00 and set an "underweight" rating on the stock in a report on Monday, July 18th.
Insider Buying and Selling
In related news, Director Anne M. Holloway sold 400 shares of the company's stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $88.91, for a total transaction of $35,564.00. Following the transaction, the director now owns 37,854 shares of the company's stock, valued at $3,365,599.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other American States Water news, insider Granville R. Hodges, Jr. sold 13,559 shares of the business's stock in a transaction on Friday, August 12th. The stock was sold at an average price of $89.90, for a total transaction of $1,218,954.10. Following the sale, the insider now directly owns 244 shares in the company, valued at $21,935.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Anne M. Holloway sold 400 shares of the business's stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $88.91, for a total value of $35,564.00. Following the sale, the director now owns 37,854 shares in the company, valued at $3,365,599.14. The disclosure for this sale can be found here. 0.92% of the stock is currently owned by corporate insiders.
About American States Water
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American States Water Company, through its subsidiaries, provides water and electric services to residential, commercial, 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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