Verition Fund Management LLC Decreases Position in American States Water (NYSE:AWR)

Verition Fund Management LLC cut its position in American States Water (NYSE:AWR) by 68.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 4,644 shares of the utilities provider’s stock after selling 10,240 shares during the period. Verition Fund Management LLC’s holdings in American States Water were worth $387,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of AWR. ORG Partners LLC bought a new stake in shares of American States Water in the second quarter worth approximately $42,000. Assetmark Inc. bought a new stake in shares of American States Water in the third quarter worth approximately $50,000. CWM LLC grew its stake in shares of American States Water by 31.4% in the second quarter. CWM LLC now owns 1,045 shares of the utilities provider’s stock worth $76,000 after acquiring an additional 250 shares during the period. Farther Finance Advisors LLC grew its stake in shares of American States Water by 18,820.0% in the third quarter. Farther Finance Advisors LLC now owns 946 shares of the utilities provider’s stock worth $79,000 after acquiring an additional 941 shares during the period. Finally, Quarry LP bought a new stake in shares of American States Water in the second quarter worth approximately $80,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

American States Water Stock Performance

Shares of NYSE AWR opened at $83.23 on Friday. The firm has a 50 day moving average of $84.13 and a 200 day moving average of $80.32. The company has a current ratio of 0.69, a quick ratio of 0.64 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of 28.02, a price-to-earnings-growth ratio of 4.32 and a beta of 0.51. American States Water has a 12-month low of $66.03 and a 12-month high of $87.50.

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

American States Water Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were issued a dividend of $0.4655 per share. This represents a $1.86 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend was Friday, November 15th. American States Water’s dividend payout ratio is currently 62.63%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Bank of America started coverage on shares of American States Water in a research note on Wednesday. They issued a “neutral” rating and a $85.00 price target for the company. StockNews.com lowered shares of American States Water from a “hold” rating to a “sell” rating in a research report on Wednesday, November 27th.

American States Water Company 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.