Virtu Financial LLC Buys New Position in American States Water (NYSE:AWR)

Virtu Financial LLC purchased a new position in American States Water (NYSE:AWR) in the third quarter, Holdings Channel.com reports. The fund purchased 3,449 shares of the utilities provider’s stock, valued at approximately $287,000.

Several other large investors have also added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC boosted its position in American States Water by 9.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,663 shares of the utilities provider’s stock valued at $266,000 after acquiring an additional 328 shares in the last quarter. Raymond James & Associates boosted its position in shares of American States Water by 3.4% during the second quarter. Raymond James & Associates now owns 42,358 shares of the utilities provider’s stock valued at $3,074,000 after purchasing an additional 1,393 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in American States Water by 2.2% in the second quarter. Louisiana State Employees Retirement System now owns 18,700 shares of the utilities provider’s stock worth $1,357,000 after purchasing an additional 400 shares during the period. Bank of New York Mellon Corp raised its holdings in American States Water by 5.6% in the second quarter. Bank of New York Mellon Corp now owns 450,788 shares of the utilities provider’s stock worth $32,714,000 after purchasing an additional 24,042 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in American States Water by 31.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 31,224 shares of the utilities provider’s stock valued at $2,266,000 after buying an additional 7,517 shares during the period. Institutional investors own 75.24% of the company’s stock.

American States Water Price Performance

Shares of NYSE:AWR opened at $82.39 on Wednesday. The business has a fifty day moving average price of $84.13 and a 200-day moving average price of $80.65. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.69 and a quick ratio of 0.64. The company has a market capitalization of $3.09 billion, a PE ratio of 27.74, a PEG ratio of 6.77 and a beta of 0.51. American States Water has a 1-year low of $66.03 and a 1-year high of $87.50.

American States Water (NYSE:AWR) last released its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.95 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). The firm had revenue of $161.78 million for the quarter, compared to the consensus estimate of $161.00 million. American States Water had a net margin of 19.26% and a return on equity of 13.53%. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.85 earnings per share. As a group, equities analysts expect that American States Water will post 3.02 EPS for the current fiscal year.

American States Water Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 15th were issued a $0.4655 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.86 dividend on an annualized basis and a yield of 2.26%. American States Water’s payout ratio is currently 62.63%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AWR. Bank of America initiated coverage on shares of American States Water in a research note on Wednesday, December 11th. They issued a “neutral” rating and a $85.00 price target for the company. StockNews.com downgraded shares of American States Water from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th.

About American States Water

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.