Rhumbline Advisers Has $9.45 Million Stake in American States Water (NYSE:AWR)

Rhumbline Advisers raised its position in shares of American States Water (NYSE:AWR) by 1.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 120,154 shares of the utilities provider’s stock after buying an additional 2,070 shares during the period. Rhumbline Advisers owned about 0.32% of American States Water worth $9,454,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Public Employees Retirement System of Ohio acquired a new stake in American States Water during the 4th quarter valued at $26,000. Golden State Wealth Management LLC acquired a new stake in shares of American States Water in the fourth quarter valued at $30,000. Federated Hermes Inc. increased its stake in shares of American States Water by 92.5% in the fourth quarter. Federated Hermes Inc. now owns 439 shares of the utilities provider’s stock valued at $34,000 after buying an additional 211 shares in the last quarter. Plato Investment Management Ltd increased its stake in shares of American States Water by 2,173.9% in the fourth quarter. Plato Investment Management Ltd now owns 523 shares of the utilities provider’s stock valued at $41,000 after buying an additional 500 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in shares of 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 buying an additional 393 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

Wall Street Analyst Weigh In

AWR has been the subject of several research reports. Wall Street Zen upgraded shares of American States Water from a “sell” rating to a “hold” rating in a research report on Saturday, March 8th. Wells Fargo & Company raised shares of American States Water from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $76.00 to $84.00 in a report on Thursday, May 8th.

American States Water Stock Up 1.1%

NYSE AWR opened at $77.48 on Tuesday. The stock has a fifty day moving average of $78.54 and a 200-day moving average of $77.72. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.76 and a current ratio of 0.82. The stock has a market capitalization of $2.98 billion, a P/E ratio of 24.44, a price-to-earnings-growth ratio of 12.92 and a beta of 0.62. American States Water has a 52 week low of $69.46 and a 52 week high of $87.50.

American States Water (NYSE:AWR) 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. American States Water had a return on equity of 13.63% and a net margin of 20.03%. The firm had revenue of $148.01 million during the quarter, compared to analyst estimates of $142.00 million. During the same period last year, the company earned $0.62 earnings per share. The company’s revenue was up 9.4% on a year-over-year basis. On average, equities research analysts forecast that American States Water will post 3.34 EPS for the current year.

American States Water Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th were issued a dividend of $0.4655 per share. This represents a $1.86 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date was Monday, May 19th. American States Water’s dividend payout ratio is presently 57.23%.

Insiders Place Their Bets

In related news, Director Thomas A. Eichelberger bought 897 shares of the firm’s stock in a transaction dated Friday, June 6th. The stock was bought at an average cost of $76.81 per share, for a total transaction of $68,898.57. Following the transaction, the director now owns 8,467 shares of the company’s stock, valued at $650,350.27. This represents a 11.85% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Diana M. Bonta sold 969 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $77.00, for a total value of $74,613.00. Following the transaction, the director now owns 15,931 shares of the company’s stock, valued at $1,226,687. The trade was a 5.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.83% of the company’s stock.

American States Water Company 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.