Denise L. Kruger Sells 1,250 Shares of American States Water Company (AWR) Stock
American States Water Company (NYSE:AWR) insider Denise L. Kruger sold 1,250 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $53.88, for a total value of $67,350.00. Following the completion of the sale, the insider now directly owns 8,216 shares of the company’s stock, valued at approximately $442,678.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
American States Water (NYSE:AWR) last issued its earnings results on Wednesday, August 2nd. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.17. American States Water had a net margin of 15.44% and a return on equity of 13.70%. The business had revenue of $113.20 million during the quarter, compared to the consensus estimate of $119.23 million. During the same period last year, the business posted $0.45 EPS. American States Water’s revenue was up 1.1% on a year-over-year basis.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be paid a $0.255 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $1.02 annualized dividend and a yield of 1.90%. American States Water’s dividend payout ratio (DPR) is currently 55.14%.
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Large investors have recently modified their holdings of the stock. Riverhead Capital Management LLC lifted its stake in American States Water by 85.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,596 shares of the utilities provider’s stock valued at $123,000 after purchasing an additional 1,196 shares during the last quarter. Bruderman Asset Management LLC acquired a new stake in American States Water in the 2nd quarter valued at about $127,000. IndexIQ Advisors LLC acquired a new stake in American States Water in the 2nd quarter valued at about $166,000. Advisor Group Inc. lifted its stake in American States Water by 16.3% in the 2nd quarter. Advisor Group Inc. now owns 4,339 shares of the utilities provider’s stock valued at $205,000 after purchasing an additional 609 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its stake in American States Water by 328.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 4,208 shares of the utilities provider’s stock valued at $207,000 after purchasing an additional 3,226 shares during the last quarter. Institutional investors and hedge funds own 63.98% of the company’s stock.
AWR has been the subject of a number of analyst reports. BidaskClub raised American States Water from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. US Capital Advisors reaffirmed a “hold” rating on shares of American States Water in a research report on Monday, July 17th. Wells Fargo & Company boosted their price target on American States Water from $46.00 to $48.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 3rd. Finally, Zacks Investment Research cut American States Water from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $51.00.
About American States Water
American States Water Company (AWR) is a holding company. The Company is the parent company of Golden State Water Company (GSWC) and American States Utility Services, Inc (ASUS), as well as ASUS’ subsidiaries, such as Fort Bliss Water Services Company (FBWS), Terrapin Utility Services, Inc (TUS), Old Dominion Utility Services, Inc (ODUS), Palmetto State Utility Services, Inc (PSUS) and Old North Utility Services, Inc (ONUS).
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