Allspring Global Investments Holdings LLC Trims Position in American States Water Company (NYSE:AWR)

Allspring Global Investments Holdings LLC cut its stake in shares of American States Water Company (NYSE:AWR - Free Report) by 8.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,693 shares of the utilities provider's stock after selling 8,529 shares during the period. Allspring Global Investments Holdings LLC owned about 0.24% of American States Water worth $7,300,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Public Employees Retirement System of Ohio bought a new position in American States Water during the 4th quarter valued at $26,000. Federated Hermes Inc. increased its position in shares of American States Water by 92.5% during the 4th 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. Jones Financial Companies Lllp increased its position in shares of American States Water by 198.9% during the 4th 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. Sterling Capital Management LLC increased its position in shares of American States Water by 607.8% during the 4th quarter. Sterling Capital Management LLC now owns 545 shares of the utilities provider's stock valued at $42,000 after purchasing an additional 468 shares during the last quarter. Finally, Golden State Wealth Management LLC increased its position 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 valued at $60,000 after purchasing an additional 380 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors.

American States Water Stock Performance

Shares of American States Water stock traded down $0.71 during trading hours on Monday, hitting $76.45. 152,721 shares of the company's stock traded hands, compared to its average volume of 214,768. American States Water Company has a 12-month low of $70.30 and a 12-month high of $87.50. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of 23.52, a PEG ratio of 4.16 and a beta of 0.61. The company has a fifty day simple moving average of $78.30 and a 200-day simple moving average of $76.96. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.81 and a quick ratio of 0.76.

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

American States Water Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Monday, May 19th were issued a $0.4655 dividend. This represents a $1.86 annualized dividend and a yield of 2.44%. The ex-dividend date was Monday, May 19th. American States Water's dividend payout ratio (DPR) is currently 57.23%.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company raised American States Water from an "underweight" rating to an "equal weight" rating and raised their target price for the company from $76.00 to $84.00 in a research report on Thursday, May 8th.

Insiders Place Their Bets

In other news, Director Thomas A. Eichelberger acquired 897 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The stock was bought at an average price of $76.81 per share, with a total value of $68,898.57. Following the acquisition, the director owned 8,467 shares in the company, valued at $650,350.27. The trade was a 11.85% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.83% of the company's stock.

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.