Quantbot Technologies LP Sells 8,829 Shares of American States Water Company $AWR

Key Points

• Quantbot Technologies LP drastically reduced its holdings in American States Water Company by 92.1%, selling 8,829 shares, leaving it with only 760 shares valued at $60,000.
• American States Water declared a quarterly dividend of $0.504, an increase from its previous dividend of $0.47, with a yield of 2.7%.
• Wells Fargo upgraded American States Water from "underweight" to "equal weight," raising its price target from $76.00 to $84.00.

Quantbot Technologies LP reduced its position in shares of American States Water Company (NYSE:AWR - Free Report) by 92.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 760 shares of the utilities provider's stock after selling 8,829 shares during the period. Quantbot Technologies LP's holdings in American States Water were worth $60,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Public Employees Retirement System of Ohio bought a new stake in American States Water during the fourth quarter valued at about $26,000. Golden State Wealth Management LLC lifted 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 worth $60,000 after purchasing an additional 380 shares during the last quarter. Ameriflex Group Inc. bought a new stake in American States Water during the 4th quarter valued at approximately $78,000. State of Wyoming acquired a new stake in American States Water in the 4th quarter valued at approximately $114,000. Finally, Raiffeisen Bank International AG bought a new position in American States Water in the 4th quarter worth approximately $179,000. Institutional investors own 75.24% of the company's stock.

American States Water Stock Performance

Shares of NYSE AWR traded up $0.21 during trading hours on Wednesday, reaching $73.70. The stock had a trading volume of 95,069 shares, compared to its average volume of 223,199. The company has a market cap of $2.84 billion, a price-to-earnings ratio of 22.53, a PEG ratio of 4.02 and a beta of 0.64. American States Water Company has a twelve month low of $70.29 and a twelve month high of $87.50. The business's fifty day moving average is $75.38 and its two-hundred day moving average is $77.06. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.56 and a quick ratio of 1.46.

American States Water (NYSE:AWR - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.05). The business had revenue of $163.07 million during the quarter, compared to the consensus estimate of $170.64 million. American States Water had a net margin of 20.26% and a return on equity of 13.14%. The company's quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the firm earned $0.85 EPS. As a group, research analysts expect that American States Water Company will post 3.34 EPS for the current year.

American States Water Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th will be issued a dividend of $0.504 per share. The ex-dividend date of this dividend is Friday, August 15th. This is a positive change from American States Water's previous quarterly dividend of $0.47. This represents a $2.02 dividend on an annualized basis and a yield of 2.7%. American States Water's dividend payout ratio (DPR) is presently 61.47%.

Insider Buying and Selling at American States Water

In related news, Director Thomas A. Eichelberger bought 897 shares of the company's stock in a transaction dated Friday, June 6th. The stock was acquired at an average cost 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 approximately $650,350.27. This represents a 11.85% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.83% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company raised American States Water from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $76.00 to $84.00 in a research report on Thursday, May 8th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Reduce" and an average target price of $77.50.

American States Water 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.