Principal Financial Group Inc. Acquires 33,738 Shares of American States Water (NYSE:AWR)

Principal Financial Group Inc. raised its holdings in American States Water (NYSE:AWRGet Rating) by 12.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 309,665 shares of the utilities provider’s stock after buying an additional 33,738 shares during the quarter. Principal Financial Group Inc. owned about 0.84% of American States Water worth $32,031,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. OLD Mission Capital LLC purchased a new position in shares of American States Water in the 3rd quarter valued at approximately $596,000. Morgan Stanley raised its stake in American States Water by 5.2% during the second quarter. Morgan Stanley now owns 296,452 shares of the utilities provider’s stock valued at $23,586,000 after buying an additional 14,670 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in American States Water by 3.7% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 3,971 shares of the utilities provider’s stock valued at $340,000 after buying an additional 142 shares during the last quarter. Swiss National Bank raised its stake in American States Water by 0.4% during the third quarter. Swiss National Bank now owns 81,600 shares of the utilities provider’s stock valued at $6,978,000 after buying an additional 300 shares during the last quarter. Finally, Mackenzie Financial Corp purchased a new position in American States Water during the third quarter valued at $219,000. Hedge funds and other institutional investors own 72.04% of the company’s stock.

In other American States Water news, insider Bryan K. Switzer sold 708 shares of the business’s stock in a transaction dated Friday, February 25th. The stock was sold at an average price of $83.28, for a total transaction of $58,962.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.92% of the company’s stock.

Several research analysts have recently weighed in on AWR shares. Wells Fargo & Company decreased their price target on American States Water from $94.00 to $86.00 and set an “equal weight” rating for the company in a research note on Thursday, February 24th. StockNews.com started coverage on American States Water in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Zacks Investment Research cut American States Water from a “hold” rating to a “sell” rating and set a $90.00 price target for the company. in a research note on Monday, April 18th. Finally, Barclays decreased their price target on American States Water from $86.00 to $85.00 and set an “underweight” rating for the company in a research note on Tuesday, March 15th.

Shares of AWR opened at $77.99 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.82 and a quick ratio of 0.74. American States Water has a one year low of $74.77 and a one year high of $103.77. The firm has a market capitalization of $2.88 billion, a P/E ratio of 32.36 and a beta of 0.29. The business has a fifty day moving average of $84.36 and a 200 day moving average of $90.18.

American States Water (NYSE:AWRGet Rating) last issued its quarterly earnings data on Monday, May 2nd. The utilities provider reported $0.38 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.15). American States Water had a return on equity of 13.14% and a net margin of 18.20%. During the same period in the prior year, the business posted $0.52 earnings per share. Analysts expect that American States Water will post 2.59 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 1st. Shareholders of record on Monday, May 16th will be issued a dividend of $0.365 per share. This represents a $1.46 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Friday, May 13th. American States Water’s dividend payout ratio is presently 60.58%.

American States Water Company Profile (Get Rating)

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.

Further Reading

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

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