Balyasny Asset Management L.P. Trims Stock Position in American States Water (NYSE:AWR)

Balyasny Asset Management L.P. reduced its stake in shares of American States Water (NYSE:AWR - Free Report) by 40.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,454 shares of the utilities provider's stock after selling 18,231 shares during the quarter. Balyasny Asset Management L.P. owned 0.07% of American States Water worth $2,056,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AWR. Golden State Wealth Management LLC purchased a new stake in American States Water in the fourth quarter worth about $30,000. Federated Hermes Inc. lifted its holdings in shares of American States Water by 92.5% during the fourth quarter. Federated Hermes Inc. now owns 439 shares of the utilities provider's stock valued at $34,000 after purchasing an additional 211 shares during the last quarter. Plato Investment Management Ltd lifted its holdings in shares of American States Water by 2,173.9% during the fourth quarter. Plato Investment Management Ltd now owns 523 shares of the utilities provider's stock valued at $41,000 after purchasing an additional 500 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of American States Water by 367.3% during the fourth quarter. Blue Trust Inc. now owns 500 shares of the utilities provider's stock valued at $42,000 after purchasing an additional 393 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in shares of American States Water by 198.9% during the fourth quarter. Jones Financial Companies Lllp now owns 541 shares of the utilities provider's stock valued at $42,000 after purchasing an additional 360 shares during the last quarter. 75.24% of the stock is owned by institutional investors.

American States Water Price Performance

American States Water stock traded up $1.74 during mid-day trading on Friday, hitting $79.56. The stock had a trading volume of 246,677 shares, compared to its average volume of 217,745. The firm has a market capitalization of $3.06 billion, a P/E ratio of 25.10, a P/E/G ratio of 12.92 and a beta of 0.64. The company has a current ratio of 0.82, a quick ratio of 0.76 and a debt-to-equity ratio of 0.88. The firm's 50 day moving average is $78.12 and its 200 day moving average is $78.44. American States Water has a one year low of $69.46 and a one year high of $87.50.

American States Water (NYSE:AWR - Get Free Report) last issued its earnings results on Wednesday, May 7th. The utilities provider reported $0.70 earnings per share for the quarter, hitting the consensus estimate of $0.70. The company had revenue of $148.01 million during the quarter, compared to the consensus estimate of $142.00 million. American States Water had a net margin of 20.03% and a return on equity of 13.63%. American States Water's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.62 EPS. On average, sell-side analysts forecast that American States Water will post 3.34 earnings per share for the current fiscal year.

American States Water Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th will be given a dividend of $0.4655 per share. This represents a $1.86 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend is Monday, May 19th. American States Water's dividend payout ratio is 57.23%.

Insider Activity

In other American States Water news, Director Diana M. Bonta sold 969 shares of the company's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $77.00, for a total value of $74,613.00. Following the transaction, the director now directly owns 15,931 shares in the company, valued at $1,226,687. This represents a 5.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.83% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on AWR. StockNews.com upgraded shares of American States Water from a "sell" rating to a "hold" rating in a report on Saturday, March 8th. Wells Fargo & Company upgraded shares of American States Water from an "underweight" rating to an "equal weight" rating and lifted their target price for the company from $76.00 to $84.00 in a report on Thursday, May 8th. Finally, Bank of America downgraded shares of American States Water from a "neutral" rating to an "underperform" rating and reduced their price target for the company from $85.00 to $71.00 in a research report on Monday, February 3rd.

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.