American States Water Co. (AWR) Stake Boosted by State Board of Administration of Florida Retirement System
State Board of Administration of Florida Retirement System raised its position in American States Water Co. (NYSE:AWR) by 12.4% during the second quarter, Holdings Channel reports. The firm owned 29,673 shares of the company’s stock after buying an additional 3,281 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.08% of American States Water worth $1,300,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the company. BlackRock Institutional Trust Company N.A. raised its stake in shares of American States Water by 0.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 929,990 shares of the company’s stock valued at $36,604,000 after buying an additional 2,402 shares during the last quarter. Norges Bank purchased a new stake in shares of American States Water during the fourth quarter valued at about $16,931,000. Commonwealth Equity Services Inc raised its stake in shares of American States Water by 1.6% in the first quarter. Commonwealth Equity Services Inc now owns 61,578 shares of the company’s stock valued at $2,424,000 after buying an additional 942 shares during the last quarter. BlackRock Group LTD raised its stake in shares of American States Water by 1.7% in the first quarter. BlackRock Group LTD now owns 166,660 shares of the company’s stock valued at $6,561,000 after buying an additional 2,782 shares during the last quarter. Finally, Aperio Group LLC raised its stake in shares of American States Water by 2.4% in the first quarter. Aperio Group LLC now owns 25,101 shares of the company’s stock valued at $988,000 after buying an additional 582 shares during the last quarter. Institutional investors and hedge funds own 63.65% of the company’s stock.
Shares of American States Water Co. (NYSE:AWR) traded up 1.75% during trading on Monday, hitting $39.57. The stock had a trading volume of 96,060 shares. The firm has a market capitalization of $1.45 billion, a P/E ratio of 24.59 and a beta of 0.40. American States Water Co. has a 1-year low of $37.28 and a 1-year high of $47.24. The stock’s 50-day moving average price is $41.03 and its 200 day moving average price is $40.88.
American States Water (NYSE:AWR) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.45 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.01. The business had revenue of $111.95 million for the quarter, compared to analysts’ expectations of $113.01 million. American States Water had a return on equity of 12.76% and a net margin of 13.28%. The business’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period last year, the firm earned $0.41 earnings per share. On average, analysts anticipate that American States Water Co. will post $1.63 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Monday, August 15th were issued a dividend of $0.224 per share. The ex-dividend date was Thursday, August 11th. This represents a $0.90 dividend on an annualized basis and a yield of 2.26%. American States Water’s dividend payout ratio is presently 56.25%.
Several analysts have issued reports on the company. Zacks Investment Research upgraded American States Water from a “sell” rating to a “hold” rating in a research note on Tuesday, July 12th. Janney Montgomery Scott upgraded American States Water from a “sell” rating to a “neutral” rating and boosted their target price for the company from $35.00 to $39.00 in a research note on Friday, August 5th. Finally, Barclays PLC lowered their target price on American States Water from $44.00 to $39.00 and set an “underweight” rating on the stock in a research note on Tuesday, September 6th.
In other American States Water news, CEO Robert J. Sprowls sold 4,342 shares of the firm’s stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $44.00, for a total transaction of $191,048.00. Following the sale, the chief executive officer now directly owns 91,874 shares of the company’s stock, valued at $4,042,456. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Anne M. Holloway sold 986 shares of the firm’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $40.01, for a total value of $39,449.86. Following the sale, the director now directly owns 41,583 shares in the company, valued at $1,663,735.83. The disclosure for this sale can be found here. Company insiders own 1.43% of the company’s stock.
About American States Water
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 various subsidiaries of ASUS. The Company’s segments include water, electric and contracted services. Within the segments, AWR has two principal business units, water and electric service utility operations, conducted through GSWC, and contracted services conducted through ASUS and its subsidiaries.
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