Comerica Bank boosted its holdings in shares of American States Water (NYSE:AWR) by 2.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,054 shares of the utilities provider’s stock after purchasing an additional 967 shares during the period. Comerica Bank owned about 0.11% of American States Water worth $2,147,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in AWR. Millennium Management LLC lifted its stake in shares of American States Water by 653.7% in the 4th quarter. Millennium Management LLC now owns 372,501 shares of the utilities provider’s stock valued at $21,572,000 after acquiring an additional 323,080 shares during the last quarter. BlackRock Inc. lifted its stake in shares of American States Water by 3.3% in the 4th quarter. BlackRock Inc. now owns 4,817,323 shares of the utilities provider’s stock valued at $278,970,000 after acquiring an additional 154,676 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of American States Water in the 4th quarter valued at $8,524,000. BlueCrest Capital Management Ltd bought a new position in shares of American States Water in the 4th quarter valued at $6,499,000. Finally, Paloma Partners Management Co bought a new position in shares of American States Water in the 4th quarter valued at $5,843,000. Institutional investors own 70.20% of the company’s stock.
A number of research analysts have recently commented on the company. Zacks Investment Research upgraded American States Water from a “sell” rating to a “hold” rating in a research note on Tuesday. ValuEngine upgraded American States Water from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Finally, UBS assumed coverage on American States Water in a research note on Thursday, March 8th. They issued a “sell” rating and a $42.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. American States Water currently has an average rating of “Hold” and an average target price of $51.00.
Shares of American States Water opened at $55.15 on Thursday, according to Marketbeat. American States Water has a 52 week low of $45.10 and a 52 week high of $60.00. The firm has a market capitalization of $2.01 billion, a PE ratio of 29.82, a PEG ratio of 6.22 and a beta of 0.39. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.74 and a quick ratio of 0.72.
American States Water (NYSE:AWR) last announced its quarterly earnings results on Monday, May 7th. The utilities provider reported $0.29 EPS for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.05). American States Water had a net margin of 15.45% and a return on equity of 12.92%. The firm had revenue of $94.73 million during the quarter, compared to the consensus estimate of $94.52 million. During the same quarter in the previous year, the company posted $0.34 earnings per share. The firm’s revenue was down 4.1% on a year-over-year basis. analysts expect that American States Water will post 1.76 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Tuesday, May 15th will be issued a $0.255 dividend. The ex-dividend date is Monday, May 14th. This represents a $1.02 dividend on an annualized basis and a yield of 1.85%. American States Water’s payout ratio is 59.65%.
American States Water Company Profile
American States Water Company, through its subsidiaries, provides water and electric services to residential, 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.
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