American States Water (NYSE:AWR) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its position in shares of American States Water (NYSE:AWR) by 1.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 267,665 shares of the utilities provider’s stock after selling 4,689 shares during the quarter. JPMorgan Chase & Co. owned 0.71% of American States Water worth $22,294,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Pathway Financial Advisers LLC increased its position in American States Water by 8,274.7% in the 3rd quarter. Pathway Financial Advisers LLC now owns 309,363 shares of the utilities provider’s stock valued at $25,767,000 after acquiring an additional 305,669 shares during the period. Millennium Management LLC increased its holdings in shares of American States Water by 205.5% during the second quarter. Millennium Management LLC now owns 440,598 shares of the utilities provider’s stock valued at $31,974,000 after purchasing an additional 296,361 shares during the period. Principal Financial Group Inc. raised its stake in shares of American States Water by 107.1% during the third quarter. Principal Financial Group Inc. now owns 381,981 shares of the utilities provider’s stock valued at $31,815,000 after purchasing an additional 197,556 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of American States Water by 114.0% during the third quarter. Assenagon Asset Management S.A. now owns 271,325 shares of the utilities provider’s stock valued at $22,599,000 after purchasing an additional 144,510 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in American States Water by 182.8% in the second quarter. Victory Capital Management Inc. now owns 220,718 shares of the utilities provider’s stock worth $16,018,000 after purchasing an additional 142,664 shares during the period. Institutional investors own 75.24% of the company’s stock.

American States Water Price Performance

Shares of American States Water stock opened at $72.87 on Thursday. American States Water has a 1-year low of $66.03 and a 1-year high of $87.50. The firm has a fifty day simple moving average of $81.96 and a 200-day simple moving average of $81.26. The company has a current ratio of 0.69, a quick ratio of 0.64 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of 24.54, a PEG ratio of 6.77 and a beta of 0.53.

American States Water (NYSE:AWR) last announced its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.95 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). American States Water had a return on equity of 13.53% and a net margin of 19.26%. The firm had revenue of $161.78 million during the quarter, compared to the consensus estimate of $161.00 million. During the same quarter in the prior year, the business posted $0.85 EPS. American States Water’s revenue was up 6.6% compared to the same quarter last year. On average, sell-side analysts expect that American States Water will post 3.02 earnings per share for the current year.

American States Water Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were issued a dividend of $0.4655 per share. This represents a $1.86 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend was Friday, November 15th. American States Water’s dividend payout ratio is 62.63%.

Analyst Ratings Changes

AWR has been the subject of several recent analyst reports. Wells Fargo & Company cut shares of American States Water from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $84.00 to $77.00 in a report on Tuesday. Bank of America assumed coverage on American States Water in a research report on Wednesday, December 11th. They set a “neutral” rating and a $85.00 price target on the stock. Finally, StockNews.com lowered American States Water from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th.

American States Water Company 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.