Duality Advisers LP purchased a new stake in shares of American States Water Co (NYSE:AWR) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 24,883 shares of the utilities provider’s stock, valued at approximately $1,957,000. Duality Advisers LP owned approximately 0.07% of American States Water as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in American States Water during the 4th quarter valued at about $22,964,000. State Street Corp increased its stake in American States Water by 3.3% during the 1st quarter. State Street Corp now owns 2,547,310 shares of the utilities provider’s stock valued at $208,217,000 after purchasing an additional 81,111 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of American States Water during the 2nd quarter valued at about $5,542,000. JPMorgan Chase & Co. boosted its holdings in shares of American States Water by 12.6% during the 1st quarter. JPMorgan Chase & Co. now owns 477,818 shares of the utilities provider’s stock valued at $39,058,000 after acquiring an additional 53,563 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of American States Water by 537.1% during the 1st quarter. SG Americas Securities LLC now owns 59,590 shares of the utilities provider’s stock valued at $4,871,000 after acquiring an additional 50,237 shares during the last quarter. Institutional investors own 70.77% of the company’s stock.
A number of analysts have recently issued reports on the stock. Seaport Global Securities began coverage on shares of American States Water in a report on Wednesday, May 20th. They set a “buy” rating and a $84.00 price target on the stock. UBS Group raised their price objective on shares of American States Water from $65.00 to $70.00 and gave the stock a “sell” rating in a report on Monday, June 22nd. Finally, Wells Fargo & Co dropped their price objective on shares of American States Water from $84.00 to $76.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $81.80.
American States Water (NYSE:AWR) last issued its quarterly earnings results on Monday, May 4th. The utilities provider reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.05). American States Water had a net margin of 17.78% and a return on equity of 13.44%. The firm had revenue of $109.10 million for the quarter, compared to analysts’ expectations of $105.42 million. During the same period in the prior year, the firm earned $0.35 EPS. American States Water’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, sell-side analysts anticipate that American States Water Co will post 2.27 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be issued a dividend of $0.335 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.34 annualized dividend and a yield of 1.74%. This is an increase from American States Water’s previous quarterly dividend of $0.31. American States Water’s payout ratio is currently 57.28%.
In other American States Water news, VP Bryan K. Switzer sold 400 shares of American States Water stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $82.00, for a total transaction of $32,800.00. Following the transaction, the vice president now owns 8,607 shares of the company’s stock, valued at $705,774. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.95% of the stock is owned by insiders.
American States Water 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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