KLP Kapitalforvaltning AS Has $976,000 Stock Position in American States Water Company (NYSE:AWR)

Key Points

• KLP Kapitalforvaltning AS has increased its stake in American States Water Company by 51.2%, bringing its total ownership to $976,000 after purchasing an additional 4,200 shares.
• American States Water reported $0.70 earnings per share for its recent quarter, meeting consensus estimates, and its revenue increased by 9.4% year-over-year.
• The firm announced a quarterly dividend of $0.4655, representing an annualized yield of 2.58% and a payout ratio of 57.23%.

KLP Kapitalforvaltning AS increased its stake in shares of American States Water Company (NYSE:AWR - Free Report) by 51.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,400 shares of the utilities provider's stock after purchasing an additional 4,200 shares during the period. KLP Kapitalforvaltning AS's holdings in American States Water were worth $976,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Public Employees Retirement System of Ohio bought a new position in American States Water during the fourth quarter worth about $26,000. Federated Hermes Inc. raised its position in shares of American States Water by 92.5% in the 4th quarter. Federated Hermes Inc. now owns 439 shares of the utilities provider's stock valued at $34,000 after acquiring an additional 211 shares during the period. Sterling Capital Management LLC boosted its stake in American States Water by 607.8% during the 4th quarter. Sterling Capital Management LLC now owns 545 shares of the utilities provider's stock worth $42,000 after acquiring an additional 468 shares during the last quarter. Golden State Wealth Management LLC grew its holdings in 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 during the period. Finally, Headlands Technologies LLC acquired a new position in American States Water during the fourth quarter valued at approximately $65,000. 75.24% of the stock is owned by institutional investors and hedge funds.

American States Water Stock Performance

AWR stock opened at $72.18 on Tuesday. American States Water Company has a 1-year low of $70.29 and a 1-year high of $87.50. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 0.83. The firm has a market cap of $2.78 billion, a PE ratio of 22.21, a P/E/G ratio of 3.93 and a beta of 0.61. The business's 50-day moving average price is $77.10 and its two-hundred day moving average price is $76.87.

American States Water (NYSE:AWR - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $0.70 earnings per share for the quarter, meeting the consensus estimate of $0.70. American States Water had a return on equity of 13.45% and a net margin of 20.22%. The business had revenue of $148.01 million for the quarter, compared to analysts' expectations of $142.00 million. During the same quarter in the previous year, the business posted $0.62 EPS. American States Water's revenue for the quarter was up 9.4% on a year-over-year basis. As a group, research analysts forecast that American States Water Company will post 3.34 earnings per share for the current year.

American States Water Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th were issued a $0.4655 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $1.86 dividend on an annualized basis and a dividend yield of 2.58%. American States Water's dividend payout ratio (DPR) is presently 57.23%.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company upgraded shares of American States Water from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $76.00 to $84.00 in a report on Thursday, May 8th.

Insider Activity

In other news, Director Thomas A. Eichelberger acquired 897 shares of the stock in a transaction dated Friday, June 6th. The shares were bought at an average cost of $76.81 per share, for a total transaction of $68,898.57. Following the purchase, the director directly owned 8,467 shares of the company's stock, valued at approximately $650,350.27. This trade represents a 11.85% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.83% of the stock is currently owned by corporate 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.

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