Bryce Point Capital LLC Purchases New Position in American States Water Company (NYSE:AWR)

Key Points

• Bryce Point Capital LLC has acquired a new position in American States Water Company, purchasing 11,033 shares valued at approximately $827,000 during the first quarter of the year.
• The company reported quarterly earnings results showing $0.70 earnings per share, matching analysts' estimates, and a 9.4% increase in revenue year-over-year.
• American States Water recently announced a quarterly dividend of $0.4655 per share, translating to an annualized dividend yield of 2.55%.

Bryce Point Capital LLC purchased a new stake in shares of American States Water Company (NYSE:AWR - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 11,033 shares of the utilities provider's stock, valued at approximately $827,000.

Several other hedge funds also recently made changes to their positions in the company. Public Employees Retirement System of Ohio bought a new stake in American States Water in the fourth quarter worth $26,000. Federated Hermes Inc. lifted its holdings in shares of American States Water by 92.5% during the fourth quarter. Federated Hermes Inc. now owns 439 shares of the utilities provider's stock valued at $34,000 after purchasing an additional 211 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in shares of American States Water by 607.8% during the fourth quarter. Sterling Capital Management LLC now owns 545 shares of the utilities provider's stock valued at $42,000 after purchasing an additional 468 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of American States Water by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 760 shares of the utilities provider's stock valued at $60,000 after purchasing an additional 380 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of American States Water during the fourth quarter valued at $65,000. 75.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company upgraded American States Water from an "underweight" rating to an "equal weight" rating and upped their price objective for the company from $76.00 to $84.00 in a research report on Thursday, May 8th.

American States Water Stock Performance

AWR traded up $0.01 during midday trading on Thursday, reaching $73.52. The company had a trading volume of 138,790 shares, compared to its average volume of 224,221. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 0.83. The business has a 50-day moving average of $76.88 and a two-hundred day moving average of $76.82. The company has a market cap of $2.83 billion, a P/E ratio of 22.57, a P/E/G ratio of 3.95 and a beta of 0.61. American States Water Company has a 1 year low of $70.29 and a 1 year high of $87.50.

American States Water (NYSE:AWR - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $0.70 EPS for the quarter, hitting analysts' consensus estimates of $0.70. The business had revenue of $148.01 million during 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%. The business's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.62 earnings per share. As a group, equities research analysts predict that American States Water Company will post 3.34 earnings per share for the current fiscal year.

American States Water Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th will be paid a $0.504 dividend. 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 dividend yield of 2.74%. American States Water's dividend payout ratio is 57.23%.

Insider Buying and Selling at American States Water

In other American States Water news, Director Thomas A. Eichelberger acquired 897 shares of the company's stock in a transaction dated Friday, June 6th. The stock was purchased at an average price of $76.81 per share, with a total value of $68,898.57. Following the completion of the purchase, the director directly owned 8,467 shares in the company, valued at approximately $650,350.27. The trade was a 11.85% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.83% of the stock is currently owned by company insiders.

American States Water Company 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.