American States Water Co (AWR) Position Reduced by Chicago Equity Partners LLC
Chicago Equity Partners LLC lessened its stake in American States Water Co (NYSE:AWR) by 61.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,500 shares of the utilities provider’s stock after selling 35,910 shares during the quarter. Chicago Equity Partners LLC’s holdings in American States Water were worth $1,376,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mainstay Capital Management LLC ADV grew its stake in American States Water by 5,616.0% in the second quarter. Mainstay Capital Management LLC ADV now owns 5,716 shares of the utilities provider’s stock valued at $100,000 after acquiring an additional 5,616 shares during the period. Westbourne Investment Advisors Inc. acquired a new position in American States Water in the third quarter valued at about $127,000. Kiley Juergens Wealth Management LLC acquired a new position in American States Water in the third quarter valued at about $183,000. Eldridge Investment Advisors Inc. acquired a new position in American States Water in the second quarter valued at about $200,000. Finally, Violich Capital Management Inc. acquired a new position in American States Water in the second quarter valued at about $202,000. Institutional investors and hedge funds own 72.48% of the company’s stock.
NYSE:AWR opened at $64.61 on Wednesday. American States Water Co has a 1 year low of $50.06 and a 1 year high of $65.57. The company has a quick ratio of 0.90, a current ratio of 0.94 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of 37.78, a price-to-earnings-growth ratio of 6.23 and a beta of 0.10.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Thursday, November 15th will be given a dividend of $0.275 per share. The ex-dividend date is Wednesday, November 14th. This represents a $1.10 annualized dividend and a dividend yield of 1.70%. American States Water’s dividend payout ratio is currently 64.33%.
AWR has been the subject of a number of research analyst reports. Wells Fargo & Co decreased their target price on American States Water from $54.00 to $52.00 and set an “underperform” rating for the company in a research note on Friday, August 24th. Zacks Investment Research raised American States Water from a “sell” rating to a “hold” rating in a research note on Thursday, August 16th. Finally, Evercore ISI initiated coverage on American States Water in a research note on Monday, September 17th. They issued an “underperform” rating and a $54.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $53.50.
In other news, Director James F. Mcnulty sold 8,897 shares of the company’s stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $60.81, for a total transaction of $541,026.57. Following the completion of the transaction, the director now directly owns 18,278 shares of the company’s stock, valued at $1,111,485.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Diana M. Bonta sold 1,454 shares of the company’s stock in a transaction dated Thursday, September 6th. The stock was sold at an average price of $61.43, for a total value of $89,319.22. Following the transaction, the director now directly owns 18,505 shares of the company’s stock, valued at $1,136,762.15. The disclosure for this sale can be found here. Insiders have sold 12,751 shares of company stock valued at $777,031 over the last ninety days. 1.41% of the stock is owned by insiders.
American States Water Profile
American States Water Company, through its subsidiaries, provides water and electric services to residential, 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.
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