American States Water Company (NYSE:AWR) Stock Holdings Boosted by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its position in shares of American States Water Company (NYSE:AWR) by 32.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,546 shares of the utilities provider’s stock after purchasing an additional 1,599 shares during the quarter. Envestnet Asset Management Inc.’s holdings in American States Water were worth $515,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in American States Water by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 855,055 shares of the utilities provider’s stock valued at $66,471,000 after purchasing an additional 4,177 shares in the last quarter. Invesco Ltd. boosted its stake in American States Water by 5.7% during the 4th quarter. Invesco Ltd. now owns 609,797 shares of the utilities provider’s stock valued at $47,393,000 after purchasing an additional 32,938 shares in the last quarter. Northern Trust Corp boosted its stake in shares of American States Water by 14.5% during the 4th quarter. Northern Trust Corp now owns 603,758 shares of the utilities provider’s stock worth $46,924,000 after acquiring an additional 76,300 shares in the last quarter. JPMorgan Chase & Co. boosted its stake 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 acquiring an additional 82,951 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in shares of American States Water by 16.1% during the 4th quarter. Millennium Management LLC now owns 329,740 shares of the utilities provider’s stock worth $25,627,000 after acquiring an additional 45,708 shares in the last quarter. 75.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Insider Activity

In other American States Water news, Director Thomas A. Eichelberger bought 897 shares of American States Water stock in a transaction dated Friday, June 6th. The stock was bought at an average price of $76.81 per share, for a total transaction of $68,898.57. Following the completion of the acquisition, the director directly owned 8,467 shares of the company’s stock, valued at approximately $650,350.27. This trade represents a 11.85% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.83% of the stock is owned by insiders.

American States Water Stock Performance

AWR opened at $74.57 on Wednesday. The firm has a market cap of $2.87 billion, a PE ratio of 22.94, a P/E/G ratio of 4.06 and a beta of 0.62. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 0.83. The business has a fifty day simple moving average of $76.57 and a 200-day simple moving average of $76.87. American States Water Company has a fifty-two week low of $70.29 and a fifty-two week high of $87.50.

American States Water (NYSE:AWR) last released its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $0.70 earnings per share for the quarter, hitting the consensus estimate of $0.70. The business had revenue of $148.01 million during 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 company’s revenue was up 9.4% compared to the same quarter last year. During the same period last year, the company posted $0.62 EPS. As a group, equities analysts predict that American States Water Company will post 3.34 EPS for the current fiscal year.

American States Water Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th will be issued a $0.504 dividend. The ex-dividend date is Friday, August 15th. This is an increase from American States Water’s previous quarterly dividend of $0.47. This represents a $2.02 dividend on an annualized basis and a dividend yield of 2.7%. American States Water’s dividend payout ratio is currently 57.23%.

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.