Pictet Asset Management Holding SA Boosts Stock Holdings in American States Water (NYSE:AWR)

Pictet Asset Management Holding SA increased its position in American States Water (NYSE:AWR) by 30.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,118,566 shares of the utilities provider’s stock after acquiring an additional 264,257 shares during the period. Pictet Asset Management Holding SA owned about 2.99% of American States Water worth $86,935,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of American States Water by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 4,831,526 shares of the utilities provider’s stock valued at $375,506,000 after purchasing an additional 33,371 shares in the last quarter. Geode Capital Management LLC raised its position in American States Water by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 850,878 shares of the utilities provider’s stock worth $70,884,000 after buying an additional 13,024 shares during the last quarter. Norges Bank bought a new position in American States Water during the 4th quarter valued at about $45,254,000. Principal Financial Group Inc. boosted its holdings in shares of American States Water by 26.8% during the 4th quarter. Principal Financial Group Inc. now owns 484,470 shares of the utilities provider’s stock valued at $37,653,000 after acquiring an additional 102,489 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of American States Water by 3.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 434,438 shares of the utilities provider’s stock valued at $33,765,000 after acquiring an additional 15,750 shares during the last quarter. 75.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Bank of America downgraded shares of American States Water from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $85.00 to $71.00 in a research report on Monday, February 3rd. StockNews.com raised American States Water from a “sell” rating to a “hold” rating in a report on Saturday, March 8th. Finally, Wells Fargo & Company downgraded American States Water from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $84.00 to $77.00 in a research note on Tuesday, January 7th.

American States Water Price Performance

NYSE AWR opened at $77.72 on Friday. The company has a 50-day moving average price of $75.58 and a 200-day moving average price of $79.71. American States Water has a 52 week low of $66.03 and a 52 week high of $87.50. The company has a quick ratio of 0.76, a current ratio of 0.82 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $2.91 billion, a P/E ratio of 24.52, a PEG ratio of 12.92 and a beta of 0.47.

American States Water (NYSE:AWR) last announced its earnings results on Wednesday, February 19th. The utilities provider reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.05. American States Water had a net margin of 20.03% and a return on equity of 13.63%. The business had revenue of $143.10 million during the quarter, compared to analysts’ expectations of $160.17 million. Equities research analysts anticipate that American States Water will post 3.34 earnings per share for the current year.

American States Water Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were issued a $0.4655 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.86 dividend on an annualized basis and a yield of 2.40%. American States Water’s dividend payout ratio is currently 58.68%.

Insider Buying and Selling

In other American States Water news, Director Diana M. Bonta sold 969 shares of the company’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $77.00, for a total value of $74,613.00. Following the completion of the sale, the director now owns 15,931 shares in the company, valued at $1,226,687. This represents a 5.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.82% of the stock is owned by insiders.

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.