American States Water (NYSE:AWR) Shares Sold by Hancock Whitney Corp

Hancock Whitney Corp cut its holdings in shares of American States Water (NYSE:AWR) by 41.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,988 shares of the utilities provider’s stock after selling 2,834 shares during the period. Hancock Whitney Corp’s holdings in American States Water were worth $289,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in American States Water during the 4th quarter valued at about $29,984,000. Victory Capital Management Inc. increased its holdings in shares of American States Water by 182.8% during the second quarter. Victory Capital Management Inc. now owns 220,718 shares of the utilities provider’s stock valued at $16,018,000 after acquiring an additional 142,664 shares in the last quarter. Vanguard Group Inc. raised its position in shares of American States Water by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 4,760,524 shares of the utilities provider’s stock valued at $343,900,000 after purchasing an additional 132,674 shares during the last quarter. Edgestream Partners L.P. boosted its stake in American States Water by 92.7% in the 2nd quarter. Edgestream Partners L.P. now owns 87,452 shares of the utilities provider’s stock worth $6,346,000 after purchasing an additional 42,064 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in American States Water by 70.8% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 100,302 shares of the utilities provider’s stock worth $7,246,000 after purchasing an additional 41,576 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American States Water Price Performance

Shares of NYSE:AWR opened at $84.42 on Tuesday. American States Water has a twelve month low of $66.03 and a twelve month high of $85.71. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.92. The company has a market cap of $3.14 billion, a PE ratio of 27.59, a price-to-earnings-growth ratio of 4.40 and a beta of 0.49. The company’s 50 day moving average is $81.83 and its 200 day moving average is $75.64.

American States Water (NYSE:AWR) last released its quarterly earnings data on Tuesday, August 6th. The utilities provider reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.02). The business had revenue of $155.30 million during the quarter, compared to analyst estimates of $138.00 million. American States Water had a return on equity of 13.45% and a net margin of 18.85%. The firm’s revenue was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.83 EPS. On average, sell-side analysts forecast that American States Water will post 3.03 EPS for the current year.

American States Water Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th were issued a $0.4655 dividend. This represents a $1.86 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Friday, August 16th. This is a boost from American States Water’s previous quarterly dividend of $0.43. American States Water’s payout ratio is 60.78%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AWR. StockNews.com upgraded shares of American States Water from a “sell” rating to a “hold” rating in a research note on Thursday, September 12th. Wells Fargo & Company raised American States Water from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $80.00 to $87.00 in a research report on Wednesday, July 31st.

Insider Transactions at American States Water

In related news, Director Anne M. Holloway sold 500 shares of American States Water stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $80.89, for a total transaction of $40,445.00. Following the completion of the transaction, the director now directly owns 38,519 shares in the company, valued at $3,115,801.91. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.82% of the company’s stock.

American States Water Profile

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.