Voloridge Investment Management LLC Lowers Stock Holdings in American States Water (NYSE:AWR)

Voloridge Investment Management LLC lessened its stake in shares of American States Water (NYSE:AWR - Free Report) by 54.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,607 shares of the utilities provider's stock after selling 11,531 shares during the period. Voloridge Investment Management LLC's holdings in American States Water were worth $747,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AWR. Golden State Wealth Management LLC purchased a new stake in shares of American States Water during the 4th quarter worth about $30,000. Federated Hermes Inc. grew 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 worth $34,000 after purchasing an additional 211 shares during the last quarter. Blue Trust Inc. boosted its stake in American States Water by 367.3% in the fourth quarter. Blue Trust Inc. now owns 500 shares of the utilities provider's stock valued at $42,000 after acquiring an additional 393 shares during the last quarter. Plato Investment Management Ltd raised its stake in American States Water by 2,173.9% during the 4th quarter. Plato Investment Management Ltd now owns 523 shares of the utilities provider's stock worth $41,000 after buying an additional 500 shares during the period. Finally, Jones Financial Companies Lllp raised its stake in shares of American States Water by 198.9% in the 4th quarter. Jones Financial Companies Lllp now owns 541 shares of the utilities provider's stock valued at $42,000 after purchasing an additional 360 shares during the period. Institutional investors and hedge funds own 75.24% of the company's stock.

American States Water Trading Down 1.3%

AWR traded down $1.02 during trading on Tuesday, hitting $77.63. 33,453 shares of the stock traded hands, compared to its average volume of 216,035. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.82 and a quick ratio of 0.76. American States Water has a 12-month low of $69.46 and a 12-month high of $87.50. The firm has a market capitalization of $2.99 billion, a P/E ratio of 24.49, a price-to-earnings-growth ratio of 12.92 and a beta of 0.64. The firm has a 50-day moving average of $78.60 and a 200 day moving average of $77.98.

American States Water (NYSE:AWR - Get Free Report) last posted 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. American States Water had a net margin of 20.03% and a return on equity of 13.63%. The firm had revenue of $148.01 million for the quarter, compared to analysts' expectations of $142.00 million. During the same quarter in the prior year, the company posted $0.62 earnings per share. The business's revenue for the quarter was up 9.4% on a year-over-year basis. Equities research analysts anticipate that American States Water will post 3.34 EPS for the current year.

American States Water Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, May 19th will be paid a dividend of $0.4655 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $1.86 dividend on an annualized basis and a dividend yield of 2.40%. American States Water's dividend payout ratio is presently 57.23%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Wells Fargo & Company raised shares of American States Water from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $76.00 to $84.00 in a report on Thursday, May 8th. Wall Street Zen upgraded American States Water from a "sell" rating to a "hold" rating in a research note on Saturday, March 8th. Finally, Bank of America downgraded shares of American States Water from a "neutral" rating to an "underperform" rating and reduced their price objective for the stock from $85.00 to $71.00 in a research report on Monday, February 3rd.

Insider Buying and Selling at American States Water

In other American States Water news, Director Diana M. Bonta sold 969 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $77.00, for a total transaction of $74,613.00. Following the sale, the director now owns 15,931 shares of the company's stock, valued at approximately $1,226,687. The trade was a 5.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.83% of the stock is owned by corporate insiders.

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.