American States Water Company (AWR) Holdings Trimmed by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its holdings in shares of American States Water Company (NYSE:AWR) by 0.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,120 shares of the utilities provider’s stock after selling 45 shares during the period. PNC Financial Services Group Inc.’s holdings in American States Water were worth $717,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Riverhead Capital Management LLC grew its holdings in American States Water by 85.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,596 shares of the utilities provider’s stock worth $123,000 after acquiring an additional 1,196 shares during the period. Bruderman Asset Management LLC acquired a new stake in American States Water during the 2nd quarter worth about $127,000. Ameritas Investment Partners Inc. acquired a new stake in American States Water during the 1st quarter worth about $140,000. IndexIQ Advisors LLC acquired a new stake in American States Water during the 2nd quarter worth about $166,000. Finally, Honkamp Krueger Financial Services Inc. acquired a new stake in American States Water during the 2nd quarter worth about $208,000. Hedge funds and other institutional investors own 65.48% of the company’s stock.

AWR has been the subject of a number of recent analyst reports. BidaskClub downgraded American States Water from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. US Capital Advisors reiterated a “hold” rating on shares of American States Water in a report on Monday, July 17th. Wells Fargo & Company increased their price target on American States Water from $46.00 to $48.00 and gave the stock a “market perform” rating in a report on Tuesday, October 3rd. Finally, Zacks Investment Research downgraded American States Water from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $44.50.

In related news, CEO Robert J. Sprowls sold 5,614 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $51.00, for a total transaction of $286,314.00. Following the transaction, the chief executive officer now owns 111,346 shares in the company, valued at $5,678,646. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP James B. Gallagher sold 1,932 shares of the business’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $50.97, for a total transaction of $98,474.04. Following the transaction, the vice president now owns 23,667 shares in the company, valued at approximately $1,206,306.99. The disclosure for this sale can be found here. Insiders sold 32,605 shares of company stock worth $1,572,067 in the last 90 days. Corporate insiders own 1.49% of the company’s stock.

American States Water (NYSE:AWR) last released its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.17. American States Water had a net margin of 15.44% and a return on equity of 13.70%. The firm had revenue of $113.20 million for the quarter, compared to analysts’ expectations of $119.23 million. During the same quarter in the previous year, the company earned $0.45 earnings per share. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year.

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American States Water Profile

American States Water Company (AWR) is a holding company. The Company is the parent company of Golden State Water Company (GSWC) and American States Utility Services, Inc (ASUS), as well as ASUS’ subsidiaries, such as Fort Bliss Water Services Company (FBWS), Terrapin Utility Services, Inc (TUS), Old Dominion Utility Services, Inc (ODUS), Palmetto State Utility Services, Inc (PSUS) and Old North Utility Services, Inc (ONUS).

Institutional Ownership by Quarter for American States Water (NYSE:AWR)

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