American States Water Co (NYSE:AWR) Short Interest Up 31.1% in August
American States Water Co (NYSE:AWR) was the recipient of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 2,272,400 shares, a growth of 31.1% from the July 31st total of 1,733,300 shares. Approximately 6.3% of the shares of the company are short sold. Based on an average daily volume of 208,300 shares, the days-to-cover ratio is currently 10.9 days.
In other American States Water news, VP Bryan K. Switzer sold 400 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $75.23, for a total transaction of $30,092.00. Following the completion of the transaction, the vice president now owns 11,979 shares in the company, valued at $901,180.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Patrick Ronald Scanlon sold 1,105 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $90.73, for a total transaction of $100,256.65. Following the transaction, the insider now owns 20,479 shares of the company’s stock, valued at approximately $1,858,059.67. The disclosure for this sale can be found here. Insiders have sold 9,583 shares of company stock valued at $771,422 in the last quarter. Company insiders own 1.24% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. WINTON GROUP Ltd raised its stake in American States Water by 2.2% in the second quarter. WINTON GROUP Ltd now owns 255,213 shares of the utilities provider’s stock valued at $19,202,000 after purchasing an additional 5,602 shares in the last quarter. Atria Investments LLC purchased a new stake in American States Water in the second quarter valued at approximately $2,300,000. Municipal Employees Retirement System of Michigan raised its stake in American States Water by 2.1% in the second quarter. Municipal Employees Retirement System of Michigan now owns 11,000 shares of the utilities provider’s stock valued at $828,000 after purchasing an additional 230 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in American States Water by 1.2% in the first quarter. Janney Montgomery Scott LLC now owns 12,420 shares of the utilities provider’s stock valued at $886,000 after purchasing an additional 146 shares in the last quarter. Finally, Mason Street Advisors LLC raised its stake in American States Water by 3.5% in the first quarter. Mason Street Advisors LLC now owns 11,810 shares of the utilities provider’s stock valued at $842,000 after purchasing an additional 399 shares in the last quarter. 72.57% of the stock is currently owned by institutional investors and hedge funds.
American States Water (NYSE:AWR) last announced its quarterly earnings results on Monday, August 5th. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.12. American States Water had a net margin of 16.55% and a return on equity of 13.04%. The firm had revenue of $124.65 million for the quarter, compared to the consensus estimate of $119.71 million. During the same period in the prior year, the firm posted $0.44 earnings per share. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. On average, equities analysts anticipate that American States Water will post 2.11 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were paid a $0.305 dividend. This is an increase from American States Water’s previous quarterly dividend of $0.28. This represents a $1.22 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date was Wednesday, August 14th. American States Water’s dividend payout ratio (DPR) is currently 70.93%.
A number of equities research analysts have recently issued reports on AWR shares. Wells Fargo & Co reissued a “sell” rating on shares of American States Water in a report on Monday, June 10th. Zacks Investment Research raised shares of American States Water from a “hold” rating to a “strong-buy” rating and set a $85.00 price target on the stock in a report on Thursday, August 8th.
About American States Water
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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