Kennedy Capital Management LLC Reduces Stake in American States Water (NYSE:AWR)

Kennedy Capital Management LLC reduced its holdings in American States Water (NYSE:AWR) by 7.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 47,622 shares of the utilities provider’s stock after selling 4,024 shares during the quarter. Kennedy Capital Management LLC owned about 0.13% of American States Water worth $3,440,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Assetmark Inc. raised its stake in American States Water by 633.3% in the fourth quarter. Assetmark Inc. now owns 352 shares of the utilities provider’s stock worth $28,000 after buying an additional 304 shares in the last quarter. Northwest Financial Advisors bought a new position in shares of American States Water in the 4th quarter worth approximately $32,000. Principal Securities Inc. bought a new position in shares of American States Water in the 4th quarter worth approximately $34,000. TFO Wealth Partners LLC lifted its stake in shares of American States Water by 44,000.0% in the 4th quarter. TFO Wealth Partners LLC now owns 441 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 440 shares during the period. Finally, Clarity Asset Management Inc. bought a new stake in shares of American States Water during the fourth quarter valued at approximately $76,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

American States Water Stock Up 1.4 %

NYSE:AWR traded up $1.18 during mid-day trading on Tuesday, hitting $82.56. 122,313 shares of the company’s stock were exchanged, compared to its average volume of 223,864. The company has a market cap of $3.07 billion, a PE ratio of 26.60, a P/E/G ratio of 4.36 and a beta of 0.46. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.15 and a quick ratio of 1.06. American States Water has a one year low of $66.03 and a one year high of $89.73. The business has a fifty day moving average price of $74.22 and a 200 day moving average price of $73.61.

American States Water (NYSE:AWR) last released its earnings results on Wednesday, May 8th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.62. The firm had revenue of $135.30 million during the quarter, compared to analyst estimates of $119.00 million. American States Water had a net margin of 19.95% and a return on equity of 13.65%. The business’s revenue was down 16.2% on a year-over-year basis. During the same period last year, the business earned $0.54 earnings per share. Equities analysts predict that American States Water will post 3.01 EPS for the current year.

American States Water Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were given a $0.43 dividend. The ex-dividend date of this dividend was Friday, May 17th. This represents a $1.72 annualized dividend and a yield of 2.08%. American States Water’s dividend payout ratio (DPR) is presently 56.21%.

Insider Activity

In other American States Water news, Director Thomas A. Eichelberger purchased 640 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were acquired at an average price of $77.62 per share, for a total transaction of $49,676.80. Following the purchase, the director now directly owns 7,006 shares of the company’s stock, valued at approximately $543,805.72. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Mary Ann Hopkins purchased 560 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were bought at an average price of $71.53 per share, for a total transaction of $40,056.80. Following the acquisition, the director now owns 3,606 shares of the company’s stock, valued at approximately $257,937.18. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas A. Eichelberger bought 640 shares of American States Water stock in a transaction dated Wednesday, May 22nd. The stock was purchased at an average cost of $77.62 per share, for a total transaction of $49,676.80. Following the purchase, the director now owns 7,006 shares of the company’s stock, valued at approximately $543,805.72. The disclosure for this purchase can be found here. Corporate insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

Separately, Wells Fargo & Company increased their price objective on American States Water from $77.00 to $80.00 and gave the stock an “underweight” rating in a report on Thursday, May 9th.

American States Water Profile

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.