Russell Investments Group Ltd. lessened its stake in shares of American States Water Co (NYSE:AWR) by 20.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 172,484 shares of the utilities provider’s stock after selling 44,170 shares during the period. Russell Investments Group Ltd. owned about 0.47% of American States Water worth $9,861,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Bruderman Asset Management LLC bought a new stake in shares of American States Water during the first quarter valued at approximately $126,000. Sei Investments Co. raised its stake in American States Water by 181.2% in the first quarter. Sei Investments Co. now owns 2,714 shares of the utilities provider’s stock worth $144,000 after buying an additional 1,749 shares in the last quarter. SG Americas Securities LLC bought a new position in American States Water in the first quarter worth approximately $176,000. Eldridge Investment Advisors Inc. bought a new position in American States Water in the second quarter worth approximately $200,000. Finally, Violich Capital Management Inc. bought a new position in American States Water in the second quarter worth approximately $202,000. 73.65% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently commented on AWR. Zacks Investment Research raised shares of American States Water from a “sell” rating to a “hold” rating in a research note on Monday, August 27th. Wells Fargo & Co reduced their price objective on shares of American States Water from $54.00 to $52.00 and set an “underperform” rating for the company in a research note on Friday, August 24th.
Shares of NYSE:AWR opened at $61.41 on Friday. The company has a market capitalization of $2.25 billion, a P/E ratio of 36.96, a price-to-earnings-growth ratio of 5.96 and a beta of 0.11. American States Water Co has a 52 week low of $47.53 and a 52 week high of $61.66. 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 released its quarterly earnings results on Monday, August 6th. The utilities provider reported $0.44 earnings per share (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 firm had revenue of $106.90 million during the quarter, compared to analysts’ expectations of $114.80 million. During the same period in the prior year, the firm posted $0.62 earnings per share. American States Water’s revenue for the quarter was down 5.6% compared to the same quarter last year. sell-side analysts predict that American States Water Co will post 1.72 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 31st. Stockholders of record on Wednesday, August 15th were issued a dividend of $0.275 per share. The ex-dividend date of this dividend was Tuesday, August 14th. This is a positive change from American States Water’s previous quarterly dividend of $0.26. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.79%. American States Water’s payout ratio is 64.33%.
In other news, Director James F. Mcnulty sold 8,897 shares of the business’s stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $60.81, for a total transaction of $541,026.57. Following the sale, the director now directly owns 18,278 shares of the company’s stock, valued at $1,111,485.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lloyd E. Ross sold 600 shares of the business’s stock in a transaction on Thursday, July 5th. The shares were sold at an average price of $58.56, for a total transaction of $35,136.00. Following the sale, the director now directly owns 49,607 shares in the company, valued at $2,904,985.92. The disclosure for this sale can be found here. Insiders have sold 12,624 shares of company stock worth $764,344 over the last three months. Corporate insiders own 1.41% of the company’s stock.
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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