Private Advisor Group LLC Has $1.28 Million Stock Holdings in American States Water Company (NYSE:AWR)

Key Points

• Private Advisor Group LLC reduced its holdings in American States Water Company by 18.7%, now owning 16,201 shares valued at $1,275,000.
• The stocks of American States Water recently received an upgrade from Wells Fargo, moving from an "underweight" to an "equal weight" rating, with a revised price target of $84.00.
• American States Water declared a quarterly dividend of $0.4655 per share, representing an annual yield of 2.55% and a payout ratio of 57.23%.

Private Advisor Group LLC trimmed its holdings in shares of American States Water Company (NYSE:AWR - Free Report) by 18.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,201 shares of the utilities provider's stock after selling 3,721 shares during the period. Private Advisor Group LLC's holdings in American States Water were worth $1,275,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in AWR. Norges Bank bought a new stake in shares of American States Water during the 4th quarter worth $45,254,000. Pictet Asset Management Holding SA boosted its position in shares of American States Water by 30.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,118,566 shares of the utilities provider's stock valued at $86,935,000 after purchasing an additional 264,257 shares during the period. Bessemer Group Inc. increased its stake in American States Water by 62,545.4% in the 1st 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. JPMorgan Chase & Co. increased its stake in American States Water by 31.0% in the 4th quarter. JPMorgan Chase & Co. now owns 350,616 shares of the utilities provider's stock worth $27,250,000 after purchasing an additional 82,951 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in American States Water by 14.5% during the 4th quarter. Northern Trust Corp now owns 603,758 shares of the utilities provider's stock worth $46,924,000 after buying an additional 76,300 shares during the period. Institutional investors and hedge funds own 75.24% of the company's stock.

American States Water Stock Up 0.4%

Shares of American States Water stock traded up $0.30 during midday trading on Wednesday, hitting $73.56. The company's stock had a trading volume of 283,401 shares, compared to its average volume of 224,760. American States Water Company has a 1-year low of $70.29 and a 1-year high of $87.50. 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 firm has a market capitalization of $2.83 billion, a P/E ratio of 22.63, a PEG ratio of 3.95 and a beta of 0.61. The stock has a 50-day simple moving average of $76.88 and a 200-day simple moving average of $76.82.

American States Water (NYSE:AWR - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $0.70 EPS for the quarter, hitting analysts' consensus estimates of $0.70. The firm 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%. The business's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the company posted $0.62 EPS. As a group, sell-side analysts expect that American States Water Company will post 3.34 earnings per share for the current year.

American States Water Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th were given 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 yield of 2.53%. American States Water's payout ratio is 57.23%.

Insider Activity

In related news, Director Thomas A. Eichelberger purchased 897 shares of the company's stock in a transaction dated Friday, June 6th. The shares were acquired at an average cost of $76.81 per share, with a total value of $68,898.57. Following the completion of the purchase, the director owned 8,467 shares of the company's stock, valued at $650,350.27. The trade was a 11.85% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.83% of the stock is owned by company insiders.

Analyst Ratings Changes

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

About American States Water

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.