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Alpha Cubed Investments LLC Buys New Shares in American States Water Company (NYSE:AWR)

American States Water logo with Utilities background

Alpha Cubed Investments LLC acquired a new stake in American States Water Company (NYSE:AWR - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,000 shares of the utilities provider's stock, valued at approximately $472,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Arizona State Retirement System raised its position in American States Water by 1.4% during the fourth quarter. Arizona State Retirement System now owns 10,871 shares of the utilities provider's stock worth $845,000 after acquiring an additional 151 shares during the last quarter. Creative Financial Designs Inc. ADV raised its position in American States Water by 2.1% during the first quarter. Creative Financial Designs Inc. ADV now owns 8,849 shares of the utilities provider's stock worth $696,000 after acquiring an additional 186 shares during the last quarter. Summit Investment Advisors Inc. raised its position in American States Water by 5.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,900 shares of the utilities provider's stock worth $303,000 after acquiring an additional 201 shares during the last quarter. Federated Hermes Inc. raised its position in American States Water by 92.5% during the fourth quarter. Federated Hermes Inc. now owns 439 shares of the utilities provider's stock worth $34,000 after acquiring an additional 211 shares during the last quarter. Finally, Captrust Financial Advisors raised its position in American States Water by 5.0% during the fourth quarter. Captrust Financial Advisors now owns 5,670 shares of the utilities provider's stock worth $441,000 after acquiring an additional 268 shares during the last quarter. Institutional investors and hedge funds own 75.24% of the company's stock.

Insider Buying and Selling at American States Water

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

Analyst Ratings Changes

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

Check Out Our Latest Stock Report on AWR

American States Water Trading Down 2.0%

Shares of NYSE:AWR traded down $1.54 during trading on Friday, reaching $75.57. The stock had a trading volume of 442,372 shares, compared to its average volume of 217,278. The business has a fifty day moving average price of $77.99 and a 200-day moving average price of $76.93. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 0.83. The stock has a market cap of $2.91 billion, a P/E ratio of 23.25, a PEG ratio of 4.16 and a beta of 0.61. American States Water Company has a fifty-two week low of $70.30 and a fifty-two week high of $87.50.

American States Water (NYSE:AWR - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $0.70 earnings per share for the quarter, meeting analysts' consensus estimates of $0.70. The business had revenue of $148.01 million during the quarter, compared to analyst estimates of $142.00 million. American States Water had a net margin of 20.22% and a return on equity of 13.45%. The company's revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.62 earnings per share. As a group, analysts anticipate that American States Water Company will post 3.34 earnings per share 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. Stockholders of record on Monday, May 19th were given a $0.4655 dividend. This represents a $1.86 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date was Monday, May 19th. American States Water's dividend payout ratio is presently 57.23%.

American States Water Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for American States Water (NYSE:AWR)

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