Cannon Global Investment Management LLC Acquires New Shares in American States Water Company (NYSE:AWR)

Cannon Global Investment Management LLC acquired a new stake in American States Water Company (NYSE:AWR - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,500 shares of the utilities provider's stock, valued at approximately $354,000.

Other large investors have also added to or reduced their stakes in the company. Proficio Capital Partners LLC purchased a new position in American States Water during the 4th quarter worth $1,359,000. US Bancorp DE grew its stake in shares of American States Water by 6.1% during the 4th quarter. US Bancorp DE now owns 6,792 shares of the utilities provider's stock worth $528,000 after acquiring an additional 390 shares during the period. Smartleaf Asset Management LLC boosted its position in American States Water by 488.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,488 shares of the utilities provider's stock worth $116,000 after purchasing an additional 1,235 shares during the period. Jones Financial Companies Lllp boosted its holdings in American States Water by 198.9% in the 4th quarter. Jones Financial Companies Lllp now owns 541 shares of the utilities provider's stock worth $42,000 after buying an additional 360 shares during the period. Finally, SBI Securities Co. Ltd. bought a new position in shares of American States Water in the fourth quarter worth $184,000. Institutional investors own 75.24% of the company's stock.

American States Water Trading Down 0.4%

Shares of NYSE AWR traded down $0.29 during mid-day trading on Thursday, hitting $77.10. The stock had a trading volume of 103,397 shares, compared to its average volume of 214,084. The business has a 50 day moving average price of $78.43 and a two-hundred day moving average price of $77.09. American States Water Company has a 1 year low of $70.30 and a 1 year high of $87.50. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.76 and a current ratio of 0.81. The firm has a market cap of $2.97 billion, a P/E ratio of 23.72, a price-to-earnings-growth ratio of 4.21 and a beta of 0.61.

American States Water (NYSE:AWR - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $0.70 EPS for the quarter, meeting analysts' consensus estimates of $0.70. The business had revenue of $148.01 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.62 EPS. On average, equities analysts anticipate that American States Water Company will post 3.34 EPS for the current fiscal year.

American States Water Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th were given a dividend of $0.4655 per share. The ex-dividend date was Monday, May 19th. This represents a $1.86 annualized dividend and a yield of 2.42%. American States Water's payout ratio is 57.23%.

Insiders Place Their Bets

In other American States Water news, Director Thomas A. Eichelberger bought 897 shares of the company's stock in a transaction dated Friday, June 6th. The shares were purchased at an average price of $76.81 per share, for a total transaction 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 purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.83% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Wall Street Zen raised shares of American States Water from a "sell" rating to a "hold" rating in a report on Saturday, March 8th. Wells Fargo & Company raised American States Water from an "underweight" rating to an "equal weight" rating and upped their target price for the stock from $76.00 to $84.00 in a research note on Thursday, May 8th.

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.