Allworth Financial LP Cuts Stock Holdings in American States Water (NYSE:AWR)

Allworth Financial LP lowered its holdings in American States Water (NYSE:AWR) by 38.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 755 shares of the utilities provider’s stock after selling 465 shares during the period. Allworth Financial LP’s holdings in American States Water were worth $61,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of AWR. Raymond James & Associates boosted its position in American States Water by 2.9% in the first quarter. Raymond James & Associates now owns 45,725 shares of the utilities provider’s stock worth $4,070,000 after purchasing an additional 1,268 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in American States Water by 4.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,634 shares of the utilities provider’s stock worth $324,000 after purchasing an additional 141 shares during the last quarter. Citigroup Inc. boosted its position in American States Water by 28.3% in the first quarter. Citigroup Inc. now owns 36,658 shares of the utilities provider’s stock worth $3,264,000 after purchasing an additional 8,078 shares during the last quarter. Bank of Montreal Can boosted its position in American States Water by 2.1% in the first quarter. Bank of Montreal Can now owns 25,620 shares of the utilities provider’s stock worth $2,297,000 after purchasing an additional 536 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its position in American States Water by 54.1% in the first quarter. MetLife Investment Management LLC now owns 19,491 shares of the utilities provider’s stock worth $1,735,000 after purchasing an additional 6,846 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American States Water Stock Down 1.0 %

Shares of NYSE AWR opened at $67.78 on Friday. American States Water has a one year low of $67.55 and a one year high of $93.67. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.24 and a quick ratio of 1.13. The business’s fifty day moving average price is $72.38 and its 200-day moving average price is $76.87. The stock has a market capitalization of $2.52 billion, a PE ratio of 20.11, a P/E/G ratio of 3.61 and a beta of 0.43.

American States Water (NYSE:AWR) last issued its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. American States Water had a return on equity of 13.54% and a net margin of 20.97%. The firm had revenue of $125.20 million for the quarter, compared to analysts’ expectations of $132.00 million. During the same quarter in the prior year, the firm earned $0.42 EPS. The business’s revenue for the quarter was down .2% compared to the same quarter last year. On average, equities research analysts anticipate that American States Water will post 3.01 EPS for the current year.

American States Water Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Tuesday, February 20th were given a dividend of $0.43 per share. The ex-dividend date was Friday, February 16th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.54%. American States Water’s dividend payout ratio is presently 51.04%.

Insider Activity

In related news, Director Thomas A. Eichelberger acquired 1,400 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were bought at an average cost of $71.21 per share, for a total transaction of $99,694.00. Following the purchase, the director now owns 5,850 shares in the company, valued at approximately $416,578.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company cut their price objective on American States Water from $79.00 to $77.00 and set an “underweight” rating on the stock in a research report on Friday, February 23rd.

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.