CIBC Asset Management Inc Buys New Holdings in American States Water Co (NYSE:AWR)

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CIBC Asset Management Inc bought a new stake in American States Water Co (NYSE:AWR) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,617 shares of the utilities provider’s stock, valued at approximately $235,000.

A number of other large investors have also recently modified their holdings of the stock. Chicago Equity Partners LLC raised its holdings in American States Water by 41.3% in the third quarter. Chicago Equity Partners LLC now owns 30,687 shares of the utilities provider’s stock valued at $2,758,000 after acquiring an additional 8,962 shares in the last quarter. Resource Management LLC acquired a new stake in American States Water in the third quarter valued at approximately $200,000. Janney Montgomery Scott LLC raised its holdings in American States Water by 9.8% in the third quarter. Janney Montgomery Scott LLC now owns 13,402 shares of the utilities provider’s stock valued at $1,204,000 after acquiring an additional 1,199 shares in the last quarter. FinTrust Capital Advisors LLC raised its holdings in American States Water by 18.1% in the third quarter. FinTrust Capital Advisors LLC now owns 978 shares of the utilities provider’s stock valued at $88,000 after acquiring an additional 150 shares in the last quarter. Finally, WESPAC Advisors LLC acquired a new stake in American States Water in the third quarter valued at approximately $1,857,000. 72.50% of the stock is currently owned by hedge funds and other institutional investors.

Shares of American States Water stock opened at $85.06 on Friday. The firm has a market capitalization of $3.33 billion, a P/E ratio of 49.45, a P/E/G ratio of 5.36 and a beta of -0.12. American States Water Co has a 52 week low of $63.15 and a 52 week high of $96.00. The company has a quick ratio of 1.09, a current ratio of 1.11 and a debt-to-equity ratio of 0.82. The firm’s 50 day moving average is $91.85 and its two-hundred day moving average is $81.73.

American States Water (NYSE:AWR) last announced its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.69 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by ($0.03). The company had revenue of $134.50 million during the quarter, compared to analysts’ expectations of $135.00 million. American States Water had a net margin of 17.26% and a return on equity of 13.23%. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.62 earnings per share. As a group, research analysts expect that American States Water Co will post 2.11 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be paid a $0.305 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.22 annualized dividend and a yield of 1.43%. American States Water’s dividend payout ratio is currently 70.93%.

Several brokerages recently weighed in on AWR. Zacks Investment Research upgraded shares of American States Water from a “hold” rating to a “strong-buy” rating and set a $85.00 price target on the stock in a research note on Thursday, August 8th. ValuEngine lowered shares of American States Water from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd.

In other American States Water news, VP Bryan K. Switzer sold 400 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $89.64, for a total value of $35,856.00. Following the transaction, the vice president now directly owns 10,384 shares in the company, valued at $930,821.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Patrick Ronald Scanlon sold 1,105 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $90.73, for a total transaction of $100,256.65. Following the transaction, the insider now owns 20,479 shares in the company, valued at $1,858,059.67. The disclosure for this sale can be found here. Insiders sold 4,010 shares of company stock worth $365,371 over the last quarter. 1.24% of the stock is currently owned by insiders.

About American States Water

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.

Further Reading: Strangles

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Institutional Ownership by Quarter for American States Water (NYSE:AWR)

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