Allspring Global Investments Holdings LLC Sells 7,794 Shares of American States Water (NYSE:AWR)

Allspring Global Investments Holdings LLC cut its holdings in American States Water (NYSE:AWR) by 25.0% during the third quarter, Holdings Channel.com reports. The fund owned 23,430 shares of the utilities provider’s stock after selling 7,794 shares during the period. Allspring Global Investments Holdings LLC’s holdings in American States Water were worth $1,951,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. ORG Partners LLC bought a new stake in shares of American States Water in the 2nd quarter valued at about $42,000. CWM LLC grew its holdings in American States Water by 31.4% during the second quarter. CWM LLC now owns 1,045 shares of the utilities provider’s stock valued at $76,000 after purchasing an additional 250 shares during the period. Quarry LP bought a new stake in American States Water in the second quarter valued at approximately $80,000. GAMMA Investing LLC increased its stake in American States Water by 702.2% in the second quarter. GAMMA Investing LLC now owns 1,115 shares of the utilities provider’s stock valued at $81,000 after purchasing an additional 976 shares in the last quarter. Finally, Covestor Ltd raised its holdings in American States Water by 193.7% in the first quarter. Covestor Ltd now owns 1,630 shares of the utilities provider’s stock worth $118,000 after purchasing an additional 1,075 shares during the period. Institutional investors and hedge funds own 75.24% of the company’s stock.

Insider Activity

In related news, Director Anne M. Holloway sold 500 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $80.89, for a total transaction of $40,445.00. Following the completion of the transaction, the director now directly owns 38,519 shares in the company, valued at approximately $3,115,801.91. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

AWR has been the subject of several research analyst reports. Wells Fargo & Company raised shares of American States Water from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $80.00 to $87.00 in a report on Wednesday, July 31st. StockNews.com cut American States Water from a “hold” rating to a “sell” rating in a research note on Wednesday, September 25th.

American States Water Price Performance

NYSE AWR opened at $82.35 on Thursday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.64 and a current ratio of 0.70. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of 28.69, a PEG ratio of 4.31 and a beta of 0.49. The business has a 50 day simple moving average of $82.93 and a 200 day simple moving average of $78.00. American States Water has a 52-week low of $66.03 and a 52-week high of $87.50.

American States Water (NYSE:AWR) last issued its quarterly earnings data on Tuesday, August 6th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.02). American States Water had a return on equity of 13.45% and a net margin of 18.85%. The company had revenue of $155.30 million for the quarter, compared to the consensus estimate of $138.00 million. During the same period in the prior year, the company earned $0.83 EPS. The firm’s revenue was down 1.3% on a year-over-year basis. Analysts anticipate that American States Water will post 3.03 earnings per share for the current fiscal year.

American States Water Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be paid a $0.4655 dividend. This represents a $1.86 annualized dividend and a dividend yield of 2.26%. American States Water’s dividend payout ratio is 64.81%.

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.