Bank of New York Mellon Corp Lowers Holdings in American States Water Company (NYSE:AWR)

Bank of New York Mellon Corp lowered its holdings in shares of American States Water Company (NYSE:AWR) by 3.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 395,391 shares of the utilities provider’s stock after selling 14,115 shares during the period. Bank of New York Mellon Corp owned about 1.03% of American States Water worth $31,109,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Public Employees Retirement System of Ohio bought a new stake in American States Water during the fourth quarter valued at approximately $26,000. Federated Hermes Inc. raised its stake in American States Water by 92.5% during the fourth quarter. Federated Hermes Inc. now owns 439 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 211 shares in the last quarter. Jones Financial Companies Lllp increased its position in American States Water by 198.9% during the fourth quarter. Jones Financial Companies Lllp now owns 541 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 360 shares during the last quarter. Sterling Capital Management LLC increased its position in American States Water by 607.8% during the fourth quarter. Sterling Capital Management LLC now owns 545 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 468 shares during the last quarter. Finally, Golden State Wealth Management LLC grew its holdings in shares of American States Water by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 760 shares of the utilities provider’s stock worth $60,000 after purchasing an additional 380 shares during the last quarter. Institutional investors own 75.24% of the company’s stock.

Insider Buying and Selling at American States Water

In related news, Director Thomas A. Eichelberger acquired 897 shares of American States Water stock in a transaction that occurred on Friday, June 6th. The stock was acquired at an average price of $76.81 per share, for a total transaction of $68,898.57. Following the transaction, the director directly owned 8,467 shares of the company’s stock, valued at $650,350.27. This trade represents a 11.85% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.83% of the company’s stock.

American States Water Stock Down 2.6%

American States Water stock opened at $74.77 on Wednesday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.76 and a current ratio of 0.81. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of 23.01, a price-to-earnings-growth ratio of 4.14 and a beta of 0.61. American States Water Company has a fifty-two week low of $70.30 and a fifty-two week high of $87.50. The stock’s fifty day moving average is $77.81 and its two-hundred day moving average is $76.89.

American States Water (NYSE:AWR) last issued its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $0.70 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.70. The firm had revenue of $148.01 million for 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 firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the company earned $0.62 EPS. Analysts predict that American States Water Company will post 3.34 EPS for the current fiscal year.

American States Water Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend was Monday, May 19th. This represents a $1.86 annualized dividend and a yield of 2.49%. American States Water’s dividend payout ratio is presently 57.23%.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company raised shares of American States Water from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $76.00 to $84.00 in a research report on Thursday, May 8th.

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.