Suntrust Banks Inc. trimmed its holdings in American States Water Co (NYSE:AWR) by 22.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,653 shares of the utilities provider’s stock after selling 1,593 shares during the period. Suntrust Banks Inc.’s holdings in American States Water were worth $327,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Citadel Advisors LLC lifted its stake in shares of American States Water by 158.0% in the third quarter. Citadel Advisors LLC now owns 21,094 shares of the utilities provider’s stock valued at $1,039,000 after buying an additional 12,917 shares in the last quarter. Invictus RG bought a new position in shares of American States Water in the third quarter valued at $253,000. Trexquant Investment LP bought a new position in shares of American States Water in the third quarter valued at $316,000. Wells Fargo & Company MN lifted its stake in shares of American States Water by 23.8% in the third quarter. Wells Fargo & Company MN now owns 102,626 shares of the utilities provider’s stock valued at $5,055,000 after buying an additional 19,738 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of American States Water by 3.2% in the third quarter. Legal & General Group Plc now owns 176,491 shares of the utilities provider’s stock valued at $8,692,000 after buying an additional 5,462 shares in the last quarter. 65.92% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have weighed in on AWR. UBS Group began coverage on shares of American States Water in a research note on Thursday. They issued a “sell” rating and a $42.00 price objective on the stock. Zacks Investment Research lowered shares of American States Water from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Finally, Wells Fargo & Co lowered shares of American States Water from a “market perform” rating to an “underperform” rating and set a $48.00 price objective on the stock. in a research note on Monday, December 18th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. American States Water presently has an average rating of “Hold” and an average price target of $48.50.
American States Water (NYSE:AWR) last announced its earnings results on Monday, February 26th. The utilities provider reported $0.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.02). The firm had revenue of $104.18 million during the quarter, compared to analysts’ expectations of $121.02 million. American States Water had a net margin of 15.74% and a return on equity of 13.50%. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 EPS. sell-side analysts expect that American States Water Co will post 1.79 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th were issued a $0.255 dividend. The ex-dividend date was Wednesday, February 14th. This represents a $1.02 annualized dividend and a dividend yield of 1.96%. American States Water’s dividend payout ratio is currently 54.26%.
In other news, Director Lloyd E. Ross sold 1,100 shares of the stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $55.79, for a total value of $61,369.00. Following the completion of the sale, the director now owns 50,706 shares in the company, valued at $2,828,887.74. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Bryan K. Switzer sold 750 shares of the stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $52.04, for a total transaction of $39,030.00. Following the completion of the sale, the vice president now owns 14,886 shares of the company’s stock, valued at approximately $774,667.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,381 shares of company stock valued at $229,966. 1.49% of the stock is currently owned by corporate insiders.
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American States Water Profile
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 ASUS’ subsidiaries, such as Fort Bliss Water Services Company (FBWS), Terrapin Utility Services, Inc (TUS), Old Dominion Utility Services, Inc (ODUS), Palmetto State Utility Services, Inc (PSUS) and Old North Utility Services, Inc (ONUS).
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