Covestor Ltd Grows Position in American States Water (NYSE:AWR)

Covestor Ltd grew its position in shares of American States Water (NYSE:AWR) by 193.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,630 shares of the utilities provider’s stock after acquiring an additional 1,075 shares during the quarter. Covestor Ltd’s holdings in American States Water were worth $118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of AWR. Assetmark Inc. lifted its position in shares of American States Water by 633.3% during the fourth quarter. Assetmark Inc. now owns 352 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 304 shares in the last quarter. Northwest Financial Advisors purchased a new position in shares of American States Water in the 4th quarter worth approximately $32,000. Principal Securities Inc. purchased a new stake in shares of American States Water during the fourth quarter valued at approximately $34,000. TFO Wealth Partners LLC lifted its holdings in American States Water by 44,000.0% during the fourth quarter. TFO Wealth Partners LLC now owns 441 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 440 shares during the period. Finally, Clarity Asset Management Inc. purchased a new position in American States Water in the fourth quarter worth $76,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company raised their target price on American States Water from $77.00 to $80.00 and gave the company an “underweight” rating in a research report on Thursday, May 9th.

American States Water Stock Performance

Shares of AWR stock traded up $0.98 during trading hours on Tuesday, hitting $80.48. 47,522 shares of the company were exchanged, compared to its average volume of 222,729. The company has a current ratio of 1.15, a quick ratio of 1.06 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of 25.99, a P/E/G ratio of 4.17 and a beta of 0.46. The firm has a fifty day simple moving average of $73.92 and a 200 day simple moving average of $73.50. American States Water has a 52-week low of $66.03 and a 52-week high of $89.73.

American States Water (NYSE:AWR) last issued its earnings results on Wednesday, May 8th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.62. American States Water had a return on equity of 13.65% and a net margin of 19.95%. The firm had revenue of $135.30 million for the quarter, compared to analyst estimates of $119.00 million. During the same period in the previous year, the company posted $0.54 earnings per share. The business’s revenue was down 16.2% on a year-over-year basis. Research analysts predict that American States Water will post 3.01 earnings per share for the current fiscal year.

American States Water Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 20th were paid a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 2.14%. The ex-dividend date was Friday, May 17th. American States Water’s dividend payout ratio is presently 56.21%.

Insider Buying and Selling at American States Water

In other news, Director Thomas A. Eichelberger purchased 640 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were purchased at an average price of $77.62 per share, with a total value of $49,676.80. Following the completion of the acquisition, the director now owns 7,006 shares in the company, valued at approximately $543,805.72. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Thomas A. Eichelberger acquired 640 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were bought at an average cost of $77.62 per share, for a total transaction of $49,676.80. Following the completion of the transaction, the director now owns 7,006 shares in the company, valued at $543,805.72. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mary Ann Hopkins bought 560 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was bought at an average cost of $71.53 per share, for a total transaction of $40,056.80. Following the completion of the purchase, the director now directly owns 3,606 shares of the company’s stock, valued at $257,937.18. The disclosure for this purchase can be found here. Insiders own 0.82% of the company’s stock.

American States Water Profile

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.