Allspring Global Investments Holdings LLC Sells 8,529 Shares of American States Water Company (NYSE:AWR)

Allspring Global Investments Holdings LLC decreased its position in shares of American States Water Company (NYSE:AWR - Free Report) by 8.4% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 92,693 shares of the utilities provider's stock after selling 8,529 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.24% of American States Water worth $7,300,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of AWR. Proficio Capital Partners LLC purchased a new position in shares of American States Water during the 4th quarter valued at $1,359,000. US Bancorp DE lifted its stake in American States Water by 6.1% in the 4th quarter. US Bancorp DE now owns 6,792 shares of the utilities provider's stock worth $528,000 after purchasing an additional 390 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in American States Water by 488.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,488 shares of the utilities provider's stock worth $116,000 after purchasing an additional 1,235 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in American States Water by 198.9% in the 4th quarter. Jones Financial Companies Lllp now owns 541 shares of the utilities provider's stock worth $42,000 after purchasing an additional 360 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in American States Water in the 4th quarter worth $184,000. Hedge funds and other institutional investors own 75.24% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company upgraded shares of American States Water from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $76.00 to $84.00 in a research note on Thursday, May 8th.

Insider Buying and Selling at American States Water

In other news, Director Thomas A. Eichelberger purchased 897 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were bought at an average cost of $76.81 per share, for a total transaction of $68,898.57. Following the acquisition, the director owned 8,467 shares of the company's stock, valued at approximately $650,350.27. This trade represents a 11.85% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.83% of the stock is currently owned by company insiders.

American States Water Price Performance

Shares of American States Water stock traded down $0.47 during trading hours on Tuesday, reaching $76.00. The company's stock had a trading volume of 265,178 shares, compared to its average volume of 215,179. The firm has a 50 day moving average price of $78.21 and a 200-day moving average price of $76.95. American States Water Company has a one year low of $70.30 and a one year high of $87.50. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.81 and a quick ratio of 0.76. The stock has a market cap of $2.93 billion, a P/E ratio of 23.38, a P/E/G ratio of 4.13 and a beta of 0.61.

American States Water (NYSE:AWR - Get Free Report) last posted its earnings results on Wednesday, May 7th. The utilities provider reported $0.70 earnings per share for the quarter, hitting analysts' consensus estimates of $0.70. American States Water had a net margin of 20.22% and a return on equity of 13.45%. The firm had revenue of $148.01 million for the quarter, compared to the consensus estimate of $142.00 million. During the same period in the previous year, the firm posted $0.62 EPS. The business's quarterly revenue was up 9.4% on a year-over-year basis. On average, analysts predict that American States Water Company will post 3.34 EPS for the current year.

American States Water Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th were issued a $0.4655 dividend. The ex-dividend date was Monday, May 19th. This represents a $1.86 dividend on an annualized basis and a dividend yield of 2.45%. American States Water's dividend payout ratio (DPR) is presently 57.23%.

About American States Water

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.