Essex Financial Services Inc. boosted its stake in shares of American States Water Company (NYSE:AWR - Free Report) by 81.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,883 shares of the utilities provider's stock after buying an additional 3,530 shares during the period. Essex Financial Services Inc.'s holdings in American States Water were worth $620,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of AWR. Captrust Financial Advisors lifted its stake in American States Water by 5.0% in the fourth quarter. Captrust Financial Advisors now owns 5,670 shares of the utilities provider's stock worth $441,000 after acquiring an additional 268 shares during the last quarter. Advisor Resource Council purchased a new stake in shares of American States Water during the 1st quarter worth $402,000. Buck Wealth Strategies LLC lifted its position in shares of American States Water by 11.4% during the 1st quarter. Buck Wealth Strategies LLC now owns 56,702 shares of the utilities provider's stock worth $4,461,000 after purchasing an additional 5,801 shares during the last quarter. Bessemer Group Inc. grew its stake in shares of American States Water by 62,545.4% during the first quarter. Bessemer Group Inc. now owns 149,096 shares of the utilities provider's stock worth $11,731,000 after purchasing an additional 148,858 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in American States Water by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 4,831,526 shares of the utilities provider's stock valued at $375,506,000 after buying an additional 33,371 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company's stock.
Insider Activity at American States Water
In related news, Director Thomas A. Eichelberger purchased 897 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were purchased 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 directly owned 8,467 shares in the company, valued at $650,350.27. This represents a 11.85% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.83% of the company's stock.
American States Water Stock Performance
Shares of NYSE AWR traded down $0.29 during trading hours on Friday, reaching $77.10. The stock had a trading volume of 103,397 shares, compared to its average volume of 214,654. The firm has a 50-day moving average of $78.35 and a 200-day moving average of $77.01. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of 23.72, a PEG ratio of 4.16 and a beta of 0.61. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 0.83. American States Water Company has a fifty-two week low of $70.30 and a fifty-two week high of $87.50.
American States Water (NYSE:AWR - Get Free Report) last announced its earnings results on Wednesday, May 7th. The utilities provider reported $0.70 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.70. American States Water had a net margin of 20.22% and a return on equity of 13.45%. The business had revenue of $148.01 million for the quarter, compared to analyst estimates of $142.00 million. During the same period last year, the firm posted $0.62 earnings per share. The company's revenue for the quarter was up 9.4% compared to the same quarter last year. Equities research analysts predict that American States Water Company will post 3.34 earnings per share for the current year.
American States Water Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th were paid a $0.4655 dividend. The ex-dividend date was Monday, May 19th. This represents a $1.86 dividend on an annualized basis and a yield of 2.42%. American States Water's dividend payout ratio is presently 57.23%.
Analyst Ratings Changes
Several research analysts have recently issued reports on the company. Wells Fargo & Company raised American States Water from an "underweight" rating to an "equal weight" rating and upped their price objective for the stock from $76.00 to $84.00 in a research report on Thursday, May 8th. Wall Street Zen raised American States Water from a "sell" rating to a "hold" rating in a report on Saturday, March 8th.
Read Our Latest Analysis on AWR
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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