Avantax Advisory Services Inc. Cuts Position in American States Water Company (NYSE:AWR)

Avantax Advisory Services Inc. trimmed its position in shares of American States Water Company (NYSE:AWR) by 5.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,873 shares of the utilities provider’s stock after selling 375 shares during the period. Avantax Advisory Services Inc.’s holdings in American States Water were worth $541,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Public Employees Retirement System of Ohio purchased a new position in American States Water in the fourth quarter worth about $26,000. Federated Hermes Inc. lifted its stake in shares of American States Water by 92.5% in the 4th quarter. Federated Hermes Inc. now owns 439 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 211 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in shares of American States Water by 607.8% in the 4th quarter. Sterling Capital Management LLC now owns 545 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 468 shares during the period. Golden State Wealth Management LLC increased its position in shares of American States Water by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 760 shares of the utilities provider’s stock valued at $60,000 after purchasing an additional 380 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of American States Water during the 4th quarter valued at approximately $65,000. 75.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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 stock from $76.00 to $84.00 in a research report on Thursday, May 8th.

American States Water Stock Down 1.2%

Shares of AWR stock opened at $74.57 on Wednesday. American States Water Company has a fifty-two week low of $70.29 and a fifty-two week high of $87.50. The firm has a market capitalization 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 debt-to-equity ratio of 0.83, a quick ratio of 0.76 and a current ratio of 0.81. The stock’s 50-day simple moving average is $76.57 and its 200-day simple moving average is $76.87.

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

American States Water Increases Dividend

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

Insider Transactions at American States Water

In related news, Director Thomas A. Eichelberger bought 897 shares of the firm’s stock in a transaction that occurred on Friday, June 6th. The stock was purchased at an average cost of $76.81 per share, for a total transaction of $68,898.57. Following the completion of the acquisition, the director owned 8,467 shares in the company, valued at approximately $650,350.27. This trade represents a 11.85% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.83% of the company’s stock.

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.