ELCO Management Co. LLC Lowers Stake in American States Water Company $AWR

ELCO Management Co. LLC lowered its stake in shares of American States Water Company (NYSE:AWR) by 17.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,408 shares of the utilities provider’s stock after selling 1,108 shares during the period. ELCO Management Co. LLC’s holdings in American States Water were worth $415,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of AWR. Golden State Wealth Management LLC lifted its holdings in American States Water by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 760 shares of the utilities provider’s stock worth $60,000 after buying an additional 380 shares during the period. Strs Ohio acquired a new position in shares of American States Water during the first quarter worth $87,000. GAMMA Investing LLC increased its position in shares of American States Water by 145.9% during the second quarter. GAMMA Investing LLC now owns 2,115 shares of the utilities provider’s stock worth $162,000 after purchasing an additional 1,255 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of American States Water by 62.2% during the first quarter. Smartleaf Asset Management LLC now owns 2,413 shares of the utilities provider’s stock worth $187,000 after purchasing an additional 925 shares in the last quarter. Finally, Mackenzie Financial Corp acquired a new position in shares of American States Water during the first quarter worth $200,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American States Water Stock Performance

Shares of AWR stock opened at $75.41 on Wednesday. The business’s fifty day simple moving average is $73.64 and its 200-day simple moving average is $76.10. The company has a market cap of $2.90 billion, a PE ratio of 23.06, a PEG ratio of 4.11 and a beta of 0.64. The company has a current ratio of 1.56, a quick ratio of 1.46 and a debt-to-equity ratio of 0.97. American States Water Company has a 12-month low of $69.85 and a 12-month high of $87.20.

American States Water (NYSE:AWR) last released its earnings results on Wednesday, August 6th. The utilities provider reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.05). American States Water had a net margin of 20.26% and a return on equity of 13.14%. The firm had revenue of $163.07 million during the quarter, compared to analyst estimates of $170.64 million. During the same period in the previous year, the company earned $0.85 earnings per share. American States Water’s revenue was up 5.0% on a year-over-year basis. Analysts expect that American States Water Company will post 3.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of American States Water in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $77.50.

American States Water Company 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.