Bank of New York Mellon Corp Acquires Shares of 342,941 American States Water Company $AWR

Key Points

• Bank of New York Mellon acquired 342,941 shares of American States Water worth approximately $28.3 million, giving it an 0.88% stake. Institutional investors collectively own 75.24% of the company.
• American States Water reported quarterly EPS of $1.09, beating estimates of $0.93, while revenue rose 11.2% year over year to $181.3 million.
• The company increased its quarterly dividend to $0.5455 per share, or $2.18 annually, representing a 2.4% yield; analysts maintain a consensus “Hold” rating.

Bank of New York Mellon Corp acquired a new stake in American States Water Company (NYSE:AWR - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 342,941 shares of the utilities provider's stock, valued at approximately $28,337,000. Bank of New York Mellon Corp owned about 0.88% of American States Water at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AWR. State of Wyoming purchased a new stake in American States Water in the second quarter valued at $26,000. IFP Advisors Inc lifted its holdings in shares of American States Water by 113.6% in the 4th quarter. IFP Advisors Inc now owns 549 shares of the utilities provider's stock valued at $40,000 after buying an additional 292 shares during the period. Plato Investment Management Ltd purchased a new stake in shares of American States Water in the fourth quarter worth about $45,000. Motiv8 Investments LLC acquired a new stake in American States Water during the fourth quarter worth about $45,000. Finally, EverSource Wealth Advisors LLC raised its position in American States Water by 337.0% during the second quarter. EverSource Wealth Advisors LLC now owns 721 shares of the utilities provider's stock valued at $55,000 after acquiring an additional 556 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company's stock.

Analysts Set New Price Targets

AWR has been the subject of a number of analyst reports. Freedom Capital raised American States Water to a "hold" rating in a report on Monday, June 29th. Weiss Ratings raised shares of American States Water from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, July 30th. Finally, Zacks Research lowered shares of American States Water from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 2nd. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold".

Insider Buying and Selling

In other American States Water news, Director Anne M. Holloway sold 900 shares of the company's stock in a transaction 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 transaction, the director directly owned 38,518 shares in the company, valued at approximately $3,422,709.48. This represents a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.90% of the company's stock.

American States Water Stock Performance

Shares of AWR stock opened at $89.87 on Friday. The company has a market capitalization of $3.56 billion, a P/E ratio of 24.62, a P/E/G ratio of 3.40 and a beta of 0.57. The business's 50 day moving average is $85.98 and its two-hundred day moving average is $79.45. The company has a current ratio of 0.98, a quick ratio of 0.90 and a debt-to-equity ratio of 0.75. American States Water Company has a 12-month low of $69.45 and a 12-month high of $91.72.

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

American States Water Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Monday, August 17th will be issued a $0.5455 dividend. This represents a $2.18 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Monday, August 17th. This is a boost from American States Water's previous quarterly dividend of $0.50. American States Water's payout ratio is presently 59.73%.

American States Water 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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