American States Water Co (AWR) Position Trimmed by Tocqueville Asset Management L.P.
Tocqueville Asset Management L.P. decreased its holdings in shares of American States Water Co (NYSE:AWR) by 22.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,600 shares of the utilities provider’s stock after selling 2,200 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in American States Water were worth $434,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Comerica Bank raised its holdings in American States Water by 2.4% in the 2nd quarter. Comerica Bank now owns 39,982 shares of the utilities provider’s stock valued at $2,409,000 after acquiring an additional 928 shares in the last quarter. Victory Capital Management Inc. raised its holdings in American States Water by 5.0% in the 1st quarter. Victory Capital Management Inc. now owns 20,373 shares of the utilities provider’s stock valued at $1,081,000 after acquiring an additional 979 shares in the last quarter. First Midwest Bank Trust Division raised its holdings in American States Water by 13.2% in the 2nd quarter. First Midwest Bank Trust Division now owns 8,883 shares of the utilities provider’s stock valued at $508,000 after acquiring an additional 1,036 shares in the last quarter. Granite Investment Partners LLC raised its holdings in American States Water by 0.5% in the 2nd quarter. Granite Investment Partners LLC now owns 222,348 shares of the utilities provider’s stock valued at $12,709,000 after acquiring an additional 1,109 shares in the last quarter. Finally, Profund Advisors LLC raised its holdings in American States Water by 22.9% in the 1st quarter. Profund Advisors LLC now owns 6,996 shares of the utilities provider’s stock valued at $371,000 after acquiring an additional 1,302 shares in the last quarter. Hedge funds and other institutional investors own 73.65% of the company’s stock.
In other news, Director Lloyd E. Ross sold 600 shares of the stock in a transaction that occurred on Thursday, July 5th. The stock was sold at an average price of $58.56, for a total value of $35,136.00. Following the completion of the transaction, the director now directly owns 49,607 shares of the company’s stock, valued at approximately $2,904,985.92. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Paul J. Rowley sold 727 shares of the stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $59.32, for a total value of $43,125.64. Following the completion of the transaction, the vice president now directly owns 1,644 shares of the company’s stock, valued at $97,522.08. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,078 shares of company stock valued at $853,663. 1.41% of the stock is currently owned by insiders.
American States Water (NYSE:AWR) last posted its quarterly earnings results on Monday, August 6th. The utilities provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.03). The firm had revenue of $106.90 million during the quarter, compared to analyst estimates of $114.80 million. American States Water had a net margin of 14.18% and a return on equity of 11.55%. The company’s revenue was down 5.6% on a year-over-year basis. During the same period last year, the company earned $0.62 EPS. analysts expect that American States Water Co will post 1.72 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, August 31st. Stockholders of record on Wednesday, August 15th were issued a $0.275 dividend. The ex-dividend date was Tuesday, August 14th. This is a boost from American States Water’s previous quarterly dividend of $0.26. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.83%. American States Water’s dividend payout ratio is presently 64.33%.
Several equities analysts have commented on the company. Zacks Investment Research raised American States Water from a “sell” rating to a “hold” rating in a report on Wednesday, June 13th. Wells Fargo & Co cut their price target on American States Water from $54.00 to $52.00 and set an “underperform” rating for the company in a report on Friday, August 24th.
American States Water 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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