BlueMountain Capital Management LLC reduced its position in shares of American States Water Co (NYSE:AWR) by 32.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,740 shares of the utilities provider’s stock after selling 5,608 shares during the period. BlueMountain Capital Management LLC’s holdings in American States Water were worth $671,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. TD Asset Management Inc. raised its stake in shares of American States Water by 15.3% in the second quarter. TD Asset Management Inc. now owns 11,316 shares of the utilities provider’s stock worth $647,000 after acquiring an additional 1,500 shares during the last quarter. HRT Financial LLC bought a new stake in shares of American States Water during the first quarter worth approximately $811,000. Prudential Financial Inc. raised its stake in shares of American States Water by 8.7% during the first quarter. Prudential Financial Inc. now owns 113,852 shares of the utilities provider’s stock worth $6,041,000 after buying an additional 9,080 shares during the last quarter. Ontario Teachers Pension Plan Board bought a new stake in shares of American States Water during the second quarter worth approximately $418,000. Finally, Victory Capital Management Inc. raised its stake in shares of American States Water by 5.0% during the first quarter. Victory Capital Management Inc. now owns 20,373 shares of the utilities provider’s stock worth $1,081,000 after buying an additional 979 shares during the last quarter. 73.65% of the stock is owned by hedge funds and other institutional investors.
In related news, VP Paul J. Rowley sold 727 shares of the stock in a transaction on Monday, August 13th. The shares were sold at an average price of $59.32, for a total transaction of $43,125.64. Following the completion of the transaction, the vice president now owns 1,644 shares in the company, valued at $97,522.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lloyd E. Ross sold 600 shares of the stock in a transaction on Thursday, July 5th. The stock was sold at an average price of $58.56, for a total transaction of $35,136.00. Following the transaction, the director now owns 49,607 shares of the company’s stock, valued at approximately $2,904,985.92. The disclosure for this sale can be found here. Insiders have sold 14,078 shares of company stock valued at $853,663 in the last 90 days. 1.41% of the stock is currently owned by corporate insiders.
A number of research firms recently weighed in on AWR. Evercore ISI began coverage on shares of American States Water in a research note on Monday. They set an “underperform” rating and a $54.00 price target for the company. Zacks Investment Research upgraded shares of American States Water from a “sell” rating to a “hold” rating in a report on Monday, August 27th. Finally, Wells Fargo & Co reduced their price target on shares of American States Water from $54.00 to $52.00 and set an “underperform” rating for the company in a report on Friday, August 24th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $52.75.
American States Water stock opened at $60.69 on Tuesday. American States Water Co has a twelve month low of $47.53 and a twelve month high of $61.66. The company has a market capitalization of $2.21 billion, a PE ratio of 35.47, a P/E/G ratio of 5.85 and a beta of 0.11. The company has a quick ratio of 1.05, a current ratio of 1.09 and a debt-to-equity ratio of 0.66.
American States Water (NYSE:AWR) last announced its earnings results on Monday, August 6th. The utilities provider reported $0.44 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.03). American States Water had a return on equity of 11.55% and a net margin of 14.18%. The business had revenue of $106.90 million for the quarter, compared to analyst estimates of $114.80 million. During the same quarter in the previous year, the company posted $0.62 EPS. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. equities research analysts predict that American States Water Co will post 1.72 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 31st. Investors of record on Wednesday, August 15th were issued a dividend of $0.275 per share. This is a boost from American States Water’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Tuesday, August 14th. This represents a $1.10 annualized dividend and a yield of 1.81%. American States Water’s dividend payout ratio is presently 64.33%.
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.
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