Quest Partners LLC Increases Stake in American States Water (NYSE:AWR)

Quest Partners LLC grew its stake in American States Water (NYSE:AWR) by 685.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,678 shares of the utilities provider’s stock after purchasing an additional 32,008 shares during the period. Quest Partners LLC owned about 0.10% of American States Water worth $2,662,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in AWR. Ballentine Partners LLC purchased a new stake in American States Water during the second quarter worth $231,000. Arizona State Retirement System raised its position in shares of American States Water by 2.5% in the second quarter. Arizona State Retirement System now owns 10,421 shares of the utilities provider’s stock worth $756,000 after acquiring an additional 258 shares during the period. Victory Capital Management Inc. boosted its stake in shares of American States Water by 182.8% during the 2nd quarter. Victory Capital Management Inc. now owns 220,718 shares of the utilities provider’s stock worth $16,018,000 after acquiring an additional 142,664 shares in the last quarter. TD Asset Management Inc grew its position in shares of American States Water by 2.1% during the 2nd quarter. TD Asset Management Inc now owns 62,500 shares of the utilities provider’s stock valued at $4,536,000 after acquiring an additional 1,300 shares during the period. Finally, Rhumbline Advisers increased its stake in shares of American States Water by 1.7% in the 2nd quarter. Rhumbline Advisers now owns 141,495 shares of the utilities provider’s stock valued at $10,268,000 after purchasing an additional 2,344 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

American States Water Stock Down 0.4 %

AWR stock opened at $80.98 on Monday. American States Water has a 52 week low of $66.03 and a 52 week high of $85.71. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.92. The firm has a 50-day simple moving average of $79.72 and a 200-day simple moving average of $74.75. The stock has a market capitalization of $3.03 billion, a P/E ratio of 26.46, a P/E/G ratio of 4.24 and a beta of 0.49.

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

American States Water Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 16th were paid a $0.4655 dividend. This is an increase from American States Water’s previous quarterly dividend of $0.43. This represents a $1.86 annualized dividend and a yield of 2.30%. The ex-dividend date was Friday, August 16th. American States Water’s dividend payout ratio is currently 60.78%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on AWR shares. Wells Fargo & Company upgraded American States Water from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $80.00 to $87.00 in a research report on Wednesday, July 31st. StockNews.com cut shares of American States Water from a “hold” rating to a “sell” rating in a research note on Friday, August 16th.

Insider Buying and Selling at American States Water

In other news, Director Anne M. Holloway sold 500 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $80.89, for a total transaction of $40,445.00. Following the completion of the sale, the director now owns 38,519 shares of the company’s stock, valued at $3,115,801.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.82% of the stock is currently 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.