Magellan Asset Management Ltd lifted its stake in American States Water Co (NYSE:AWR) by 23.1% in the 1st quarter, Holdings Channel reports. The firm owned 29,369 shares of the utilities provider’s stock after purchasing an additional 5,520 shares during the period. Magellan Asset Management Ltd’s holdings in American States Water were worth $2,094,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Pearl River Capital LLC acquired a new stake in shares of American States Water in the fourth quarter valued at approximately $34,000. NumerixS Investment Technologies Inc acquired a new stake in shares of American States Water in the fourth quarter valued at approximately $40,000. Private Capital Group LLC grew its position in American States Water by 36.1% in the first quarter. Private Capital Group LLC now owns 641 shares of the utilities provider’s stock worth $46,000 after acquiring an additional 170 shares during the period. Cable Hill Partners LLC purchased a new position in American States Water in the first quarter worth approximately $65,000. Finally, Quadrant Capital Group LLC grew its position in American States Water by 3,380.6% in the first quarter. Quadrant Capital Group LLC now owns 1,253 shares of the utilities provider’s stock worth $88,000 after acquiring an additional 1,217 shares during the period. 72.37% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO Robert J. Sprowls sold 3,807 shares of the firm’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $72.06, for a total transaction of $274,332.42. Following the completion of the transaction, the chief executive officer now directly owns 122,799 shares in the company, valued at $8,848,895.94. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Robert J. Sprowls sold 12,402 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $71.55, for a total value of $887,363.10. Following the transaction, the chief executive officer now owns 129,701 shares of the company’s stock, valued at $9,280,106.55. The disclosure for this sale can be found here. Insiders sold 35,840 shares of company stock valued at $2,602,162 over the last quarter. 1.24% of the stock is currently owned by company insiders.
Separately, Wells Fargo & Co reiterated a “sell” rating on shares of American States Water in a research report on Tuesday, March 26th.
American States Water stock traded up $1.11 during mid-day trading on Wednesday, hitting $74.93. The company’s stock had a trading volume of 3,177 shares, compared to its average volume of 159,394. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of 43.42, a PEG ratio of 4.71 and a beta of 0.05. American States Water Co has a 1 year low of $54.64 and a 1 year high of $76.43. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.03 and a current ratio of 1.09.
American States Water (NYSE:AWR) last issued its quarterly earnings data on Monday, May 6th. The utilities provider reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). The business had revenue of $101.70 million during the quarter, compared to analysts’ expectations of $93.02 million. American States Water had a return on equity of 11.92% and a net margin of 14.86%. The company’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.29 earnings per share. Analysts forecast that American States Water Co will post 1.99 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Thursday, May 16th were given a $0.275 dividend. The ex-dividend date was Wednesday, May 15th. This represents a $1.10 annualized dividend and a yield of 1.47%. American States Water’s payout ratio is 63.95%.
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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