11,038 Shares in American States Water Company $AWR Acquired by AlphaQuest LLC

Key Points

• AlphaQuest LLC has acquired 11,038 shares of American States Water Company for approximately $868,000, as per their Form 13F filing.
• American States Water recently announced a quarterly dividend increase to $0.504 per share, reflecting an annualized yield of 2.7%.
• According to Wells Fargo, the stock rating for American States Water has been upgraded to "equal weight" with a revised price target of $84.00.

AlphaQuest LLC purchased a new position in shares of American States Water Company (NYSE:AWR - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 11,038 shares of the utilities provider's stock, valued at approximately $868,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Public Employees Retirement System of Ohio bought a new stake in shares of American States Water during the 4th quarter worth approximately $26,000. Golden State Wealth Management LLC lifted its stake in shares of American States Water by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 760 shares of the utilities provider's stock worth $60,000 after acquiring an additional 380 shares during the last quarter. Ameriflex Group Inc. purchased a new position in American States Water during the 4th quarter worth $78,000. State of Wyoming purchased a new position in American States Water during the 4th quarter worth $114,000. Finally, Raiffeisen Bank International AG purchased a new position in American States Water during the 4th quarter worth $179,000. 75.24% of the stock is owned by institutional investors.

American States Water Trading Up 1.5%

Shares of NYSE:AWR opened at $75.6740 on Monday. American States Water Company has a 12-month low of $70.29 and a 12-month high of $87.50. The business's fifty day simple moving average is $75.89 and its 200-day simple moving average is $77.06. The company has a market capitalization of $2.91 billion, a PE ratio of 23.14, a P/E/G ratio of 4.08 and a beta of 0.62. 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 (NYSE:AWR - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $0.87 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.92 by ($0.05). The company had revenue of $163.07 million during the quarter, compared to analysts' expectations of $170.64 million. American States Water had a net margin of 20.26% and a return on equity of 13.14%. The company's revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.85 earnings per share. As a group, equities research analysts predict that American States Water Company will post 3.34 earnings per share for the current fiscal year.

American States Water Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th will be given a $0.504 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, August 15th. This is a positive change from American States Water's previous quarterly dividend of $0.47. American States Water's payout ratio is 61.77%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company upgraded American States Water from an "underweight" rating to an "equal weight" rating and raised their price objective for the stock from $76.00 to $84.00 in a report on Thursday, May 8th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus price target of $77.50.

Insider Buying and Selling at American States Water

In other American States Water news, Director Thomas A. Eichelberger acquired 897 shares of the stock in a transaction dated Friday, June 6th. The stock was purchased at an average price of $76.81 per share, with a total value of $68,898.57. Following the transaction, the director directly owned 8,467 shares of the company's stock, valued at $650,350.27. This trade represents a 11.85% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.83% of the stock is owned by insiders.

American States Water 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.

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