American States Water Company $AWR Shares Sold by Algert Global LLC

Key Points

• Algert Global cut its American States Water stake by 31.5% in the second quarter, selling 12,380 shares and retaining 26,870 shares valued at approximately $2.22 million. Institutional investors and hedge funds collectively own 75.24% of AWR.
• American States Water reported stronger-than-expected quarterly results, with earnings of $1.09 per share versus the $0.93 estimate and revenue of $181.29 million, up 11.2% year over year.
• The company raised its quarterly dividend to $0.5455, equivalent to $2.18 annually and a 2.4% yield. Despite the increase, analysts’ average rating remains Hold.

Algert Global LLC lowered its position in shares of American States Water Company (NYSE:AWR - Free Report) by 31.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,870 shares of the utilities provider's stock after selling 12,380 shares during the quarter. Algert Global LLC owned 0.07% of American States Water worth $2,220,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Baird Financial Group Inc. boosted its position in shares of American States Water by 23.7% during the 1st quarter. Baird Financial Group Inc. now owns 3,260 shares of the utilities provider's stock valued at $256,000 after purchasing an additional 625 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of American States Water by 6.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,700 shares of the utilities provider's stock valued at $1,943,000 after buying an additional 1,388 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of American States Water by 768.9% in the first quarter. Jones Financial Companies Lllp now owns 4,701 shares of the utilities provider's stock valued at $370,000 after buying an additional 4,160 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of American States Water by 9.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 284,620 shares of the utilities provider's stock valued at $22,394,000 after acquiring an additional 25,333 shares during the last quarter. Finally, Jane Street Group LLC lifted its position in shares of American States Water by 2,606.4% during the 1st quarter. Jane Street Group LLC now owns 89,717 shares of the utilities provider's stock valued at $7,059,000 after acquiring an additional 86,402 shares during the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at American States Water

In related news, Director Anne M. Holloway sold 900 shares of the firm's stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $88.86, for a total transaction of $79,974.00. Following the completion of the sale, the director directly owned 38,518 shares in the company, valued at approximately $3,422,709.48. This trade represents a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.90% of the stock is owned by corporate insiders.

American States Water Price Performance

AWR opened at $89.87 on Friday. The stock has a fifty day moving average of $85.98 and a 200-day moving average of $79.45. The firm has a market capitalization of $3.56 billion, a P/E ratio of 24.62, a PEG ratio of 3.40 and a beta of 0.57. American States Water Company has a 12-month low of $69.45 and a 12-month high of $91.72. The company has a quick ratio of 0.90, a current ratio of 0.98 and a debt-to-equity ratio of 0.75.

American States Water (NYSE:AWR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The utilities provider reported $1.09 earnings per share for the quarter, beating analysts' consensus estimates of $0.93 by $0.16. The business had revenue of $181.29 million for the quarter, compared to the consensus estimate of $171.72 million. American States Water had a return on equity of 13.50% and a net margin of 20.52%.American States Water's revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.87 earnings per share. Equities analysts forecast that American States Water Company will post 3.68 EPS for the current fiscal year.

American States Water Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Monday, August 17th will be issued a $0.5455 dividend. The ex-dividend date is Monday, August 17th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.4%. This is a positive change from American States Water's previous quarterly dividend of $0.50. American States Water's dividend payout ratio is currently 59.73%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Freedom Capital upgraded American States Water to a "hold" rating in a report on Monday, June 29th. Weiss Ratings raised American States Water from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, July 30th. Finally, Zacks Research lowered American States Water from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 2nd. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold".

American States Water Company Profile

American States Water Company NYSE: AWR, founded in 1929 and headquartered in San Dimas, California, is a publicly traded utility holding company. The company operates primarily through two regulated segments—water and electric utilities—and provides non-regulated water system services. Over its history, American States Water has expanded its footprint through strategic acquisitions and organic growth, positioning itself as a reliable provider of essential services in its core territories.

Within its regulated water utility segment, American States Water serves more than 250,000 residential, commercial and industrial customers across 35 communities in six counties of California.

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