KBC Group NV cut its holdings in shares of American States Water Company (NYSE:AWR - Free Report) by 69.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,892 shares of the utilities provider's stock after selling 4,296 shares during the period. KBC Group NV's holdings in American States Water were worth $149,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in American States Water during the 4th quarter worth approximately $45,254,000. Pictet Asset Management Holding SA increased its position in shares of American States Water by 30.9% during 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. Bessemer Group Inc. raised its stake in shares of American States Water by 62,545.4% in the first quarter. Bessemer Group Inc. now owns 149,096 shares of the utilities provider's stock valued at $11,731,000 after acquiring an additional 148,858 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in American States Water by 31.0% in the fourth quarter. JPMorgan Chase & Co. now owns 350,616 shares of the utilities provider's stock valued at $27,250,000 after purchasing an additional 82,951 shares during the period. Finally, Northern Trust Corp grew its stake in American States Water by 14.5% during the 4th quarter. Northern Trust Corp now owns 603,758 shares of the utilities provider's stock worth $46,924,000 after purchasing an additional 76,300 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company's stock.
Insider Transactions at American States Water
In related news, Director Thomas A. Eichelberger acquired 897 shares of the business's stock in a transaction on Friday, June 6th. The shares were bought at an average price of $76.81 per share, with a total value 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.83% of the stock is owned by company insiders.
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 target for the company from $76.00 to $84.00 in a research report on Thursday, May 8th.
View Our Latest Analysis on AWR
American States Water Stock Down 0.9%
Shares of NYSE:AWR traded down $0.71 during trading hours on Monday, reaching $76.45. The stock had a trading volume of 152,721 shares, compared to its average volume of 214,768. American States Water Company has a 1 year low of $70.30 and a 1 year high of $87.50. The firm's 50 day moving average is $78.35 and its 200-day moving average is $76.98. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of 23.52, a P/E/G ratio of 4.16 and a beta of 0.61. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.76 and a current ratio of 0.81.
American States Water (NYSE:AWR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $0.70 earnings per share for the quarter, meeting analysts' consensus estimates of $0.70. The company had revenue of $148.01 million for the quarter, compared to analysts' expectations of $142.00 million. American States Water had a return on equity of 13.45% and a net margin of 20.22%. American States Water's quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the firm earned $0.62 earnings per share. Research analysts predict that American States Water Company will post 3.34 earnings per share for the current fiscal year.
American States Water Announces Dividend
The firm also recently declared 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 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend was Monday, May 19th. American States Water's dividend payout ratio (DPR) is 57.23%.
About American States Water
(
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.
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