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

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

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in American States Water by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 4,831,526 shares of the utilities provider's stock worth $375,506,000 after buying an additional 33,371 shares during the last quarter. Pictet Asset Management Holding SA grew its stake in shares of American States Water by 30.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,118,566 shares of the utilities provider's stock worth $86,935,000 after acquiring an additional 264,257 shares during the period. Geode Capital Management LLC raised its holdings in shares of American States Water by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 855,055 shares of the utilities provider's stock valued at $66,471,000 after purchasing an additional 4,177 shares during the last quarter. Invesco Ltd. lifted its position in American States Water by 5.7% during the fourth quarter. Invesco Ltd. now owns 609,797 shares of the utilities provider's stock valued at $47,393,000 after purchasing an additional 32,938 shares during the period. Finally, Northern Trust Corp lifted its position in American States Water by 14.5% during the fourth quarter. Northern Trust Corp now owns 603,758 shares of the utilities provider's stock valued at $46,924,000 after purchasing an additional 76,300 shares during the period. 75.24% of the stock is owned by institutional investors.

American States Water Stock Performance

Shares of NYSE AWR traded down $0.59 during midday trading on Monday, hitting $76.57. 50,234 shares of the company's stock traded hands, compared to its average volume of 214,373. The firm has a fifty day moving average of $78.35 and a 200 day moving average of $76.98. American States Water Company has a 1 year low of $70.30 and a 1 year high of $87.50. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.76 and a current ratio of 0.81. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of 23.57, a price-to-earnings-growth ratio of 4.16 and a beta of 0.61.

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

American States Water Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Monday, May 19th were given a dividend of $0.4655 per share. The ex-dividend date was Monday, May 19th. This represents a $1.86 annualized dividend and a yield of 2.43%. American States Water's dividend payout ratio (DPR) is presently 57.23%.

Insider Transactions at American States Water

In related news, Director Thomas A. Eichelberger acquired 897 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were purchased at an average price of $76.81 per share, with a total value of $68,898.57. Following the completion of the purchase, the director directly owned 8,467 shares of the company's stock, valued at $650,350.27. This represents a 11.85% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.83% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.