Raymond James Financial Inc. Invests $5.23 Million in American States Water (NYSE:AWR)

Raymond James Financial Inc. purchased a new position in shares of American States Water (NYSE:AWR - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 67,343 shares of the utilities provider's stock, valued at approximately $5,234,000. Raymond James Financial Inc. owned about 0.18% of American States Water at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of American States Water in the 4th quarter valued at $45,254,000. Pictet Asset Management Holding SA lifted its stake in American States Water by 30.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,118,566 shares of the utilities provider's stock valued at $86,935,000 after buying an additional 264,257 shares during the period. Principal Financial Group Inc. boosted its holdings in American States Water by 107.1% during the third quarter. Principal Financial Group Inc. now owns 381,981 shares of the utilities provider's stock worth $31,815,000 after buying an additional 197,556 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of American States Water by 31.0% during the 4th quarter. JPMorgan Chase & Co. now owns 350,616 shares of the utilities provider's stock worth $27,250,000 after buying an additional 82,951 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in shares of American States Water by 332.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 101,222 shares of the utilities provider's stock worth $7,753,000 after buying an additional 77,792 shares during the period. 75.24% of the stock is owned by institutional investors.

American States Water Stock Down 1.3 %

Shares of American States Water stock traded down $1.07 on Thursday, hitting $80.04. The company had a trading volume of 33,671 shares, compared to its average volume of 217,615. American States Water has a twelve month low of $69.46 and a twelve month high of $87.50. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.82 and a quick ratio of 0.76. The stock has a 50-day moving average of $77.86 and a 200-day moving average of $78.95. The firm has a market capitalization of $3.08 billion, a P/E ratio of 25.26, a P/E/G ratio of 12.92 and a beta of 0.56.

American States Water (NYSE:AWR - Get Free Report) last released its earnings results on Wednesday, February 19th. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.64 by $0.05. The firm had revenue of $143.10 million during the quarter, compared to analysts' expectations of $160.17 million. American States Water had a return on equity of 13.63% and a net margin of 20.03%. Research analysts predict that American States Water will post 3.34 earnings per share for the current year.

American States Water Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.4655 per share. The ex-dividend date was Tuesday, February 18th. This represents a $1.86 annualized dividend and a dividend yield of 2.33%. American States Water's dividend payout ratio is currently 58.68%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on AWR shares. StockNews.com upgraded shares of American States Water from a "sell" rating to a "hold" rating in a report on Saturday, March 8th. Wells Fargo & Company lowered shares of American States Water from an "equal weight" rating to an "underweight" rating and decreased their price target for the company from $84.00 to $77.00 in a report on Tuesday, January 7th. Finally, Bank of America downgraded American States Water from a "neutral" rating to an "underperform" rating and dropped their price objective for the stock from $85.00 to $71.00 in a research note on Monday, February 3rd.

Insider Transactions at American States Water

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