Allspring Global Investments Holdings LLC Sells 8,529 Shares of American States Water Company (NYSE:AWR)

Allspring Global Investments Holdings LLC decreased its holdings in shares of American States Water Company (NYSE:AWR) by 8.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 92,693 shares of the utilities provider’s stock after selling 8,529 shares during the period. Allspring Global Investments Holdings LLC’s holdings in American States Water were worth $7,300,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Perpetual Ltd boosted its holdings in American States Water by 41.8% in the first quarter. Perpetual Ltd now owns 152,187 shares of the utilities provider’s stock worth $11,974,000 after acquiring an additional 44,834 shares in the last quarter. Creative Financial Designs Inc. ADV increased its holdings in American States Water by 2.1% in the first quarter. Creative Financial Designs Inc. ADV now owns 8,849 shares of the utilities provider’s stock valued at $696,000 after buying an additional 186 shares in the last quarter. Golden State Wealth Management LLC increased its position in shares of American States Water by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 760 shares of the utilities provider’s stock valued at $60,000 after buying an additional 380 shares in the last quarter. Bessemer Group Inc. lifted its holdings in American States Water by 62,545.4% during the first quarter. Bessemer Group Inc. now owns 149,096 shares of the utilities provider’s stock valued at $11,731,000 after purchasing an additional 148,858 shares in the last quarter. Finally, Buck Wealth Strategies LLC boosted its holdings in American States Water by 11.4% in the 1st quarter. Buck Wealth Strategies LLC now owns 56,702 shares of the utilities provider’s stock worth $4,461,000 after buying an additional 5,801 shares during the last quarter. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at American States Water

In other American States Water news, Director Thomas A. Eichelberger purchased 897 shares of the business’s stock in a transaction on Friday, June 6th. The shares were bought at an average cost of $76.81 per share, for a total transaction of $68,898.57. Following the completion of the purchase, the director directly owned 8,467 shares in the company, valued at approximately $650,350.27. This represents a 11.85% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on AWR shares. Wells Fargo & Company raised shares of American States Water from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $76.00 to $84.00 in a report on Thursday, May 8th. Wall Street Zen raised American States Water from a “sell” rating to a “hold” rating in a research report on Saturday, March 8th.

American States Water Stock Down 0.4%

Shares of AWR opened at $77.10 on Friday. The company’s 50-day simple moving average is $78.35 and its 200-day simple moving average is $77.01. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.76 and a current ratio of 0.81. American States Water Company has a 1 year low of $70.30 and a 1 year high of $87.50. The stock has a market capitalization of $2.97 billion, a PE ratio of 23.72, a P/E/G ratio of 4.16 and a beta of 0.61.

American States Water (NYSE:AWR) last announced its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $0.70 EPS for the quarter, hitting analysts’ consensus estimates of $0.70. The business had revenue of $148.01 million during the quarter, compared to the consensus estimate of $142.00 million. American States Water had a return on equity of 13.45% and a net margin of 20.22%. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.62 earnings per share. Analysts forecast that American States Water Company will post 3.34 earnings per share for the current fiscal year.

American States Water Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Monday, May 19th were given a dividend of $0.4655 per share. The ex-dividend date was Monday, May 19th. This represents a $1.86 annualized dividend and a dividend yield of 2.42%. American States Water’s dividend payout ratio (DPR) is currently 57.23%.

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.