Bank of America Corp DE Increases Stake in American States Water (NYSE:AWR)

Bank of America Corp DE boosted its position in shares of American States Water (NYSE:AWR - Free Report) by 107.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 137,915 shares of the utilities provider's stock after buying an additional 71,501 shares during the period. Bank of America Corp DE owned approximately 0.37% of American States Water worth $10,719,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in AWR. Golden State Wealth Management LLC acquired a new stake in shares of American States Water in the 4th quarter valued at $30,000. Federated Hermes Inc. boosted its stake in American States Water by 92.5% in the fourth quarter. Federated Hermes Inc. now owns 439 shares of the utilities provider's stock valued at $34,000 after buying an additional 211 shares in the last quarter. Plato Investment Management Ltd grew its position in American States Water by 2,173.9% in the fourth quarter. Plato Investment Management Ltd now owns 523 shares of the utilities provider's stock valued at $41,000 after acquiring an additional 500 shares during the last quarter. Blue Trust Inc. grew its position in American States Water by 367.3% in the fourth quarter. Blue Trust Inc. now owns 500 shares of the utilities provider's stock valued at $42,000 after acquiring an additional 393 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its stake in American States Water by 198.9% during the fourth quarter. Jones Financial Companies Lllp now owns 541 shares of the utilities provider's stock worth $42,000 after acquiring an additional 360 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on AWR shares. Wall Street Zen raised American States Water from a "sell" rating to a "hold" rating in a research note on Saturday, March 8th. Bank of America downgraded shares of American States Water from a "neutral" rating to an "underperform" rating and dropped their price target for the company from $85.00 to $71.00 in a research note on Monday, February 3rd. Finally, Wells Fargo & Company upgraded 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 report on Thursday, May 8th.

American States Water Stock Performance

AWR traded up $0.04 during midday trading on Thursday, reaching $78.02. The company had a trading volume of 29,286 shares, compared to its average volume of 224,169. American States Water has a 12-month low of $69.46 and a 12-month high of $87.50. The business has a 50-day moving average price of $78.38 and a two-hundred day moving average price of $78.21. The stock has a market cap of $3.00 billion, a PE ratio of 24.61, a P/E/G ratio of 12.92 and a beta of 0.64. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.76 and a current ratio of 0.82.

American States Water (NYSE:AWR - Get Free Report) last posted its earnings results on Wednesday, May 7th. The utilities provider reported $0.70 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.70. American States Water had a return on equity of 13.63% and a net margin of 20.03%. The firm had revenue of $148.01 million for the quarter, compared to the consensus estimate of $142.00 million. During the same quarter in the prior year, the business posted $0.62 earnings per share. The business's quarterly revenue was up 9.4% on a year-over-year basis. On average, sell-side analysts expect that American States Water 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 will be paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th will be given a dividend of $0.4655 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $1.86 dividend on an annualized basis and a dividend yield of 2.39%. American States Water's dividend payout ratio (DPR) is presently 57.23%.

Insider Transactions at American States Water

In other American States Water news, Director Diana M. Bonta sold 969 shares of American States Water stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $77.00, for a total transaction of $74,613.00. Following the completion of the sale, the director now owns 15,931 shares of the company's stock, valued at $1,226,687. The trade was a 5.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.83% of the stock is owned by insiders.

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.