Allspring Global Investments Holdings LLC Acquires 77,792 Shares of American States Water (NYSE:AWR)

Allspring Global Investments Holdings LLC grew its holdings in American States Water (NYSE:AWR) by 332.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 101,222 shares of the utilities provider’s stock after buying an additional 77,792 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.27% of American States Water worth $7,753,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Golden State Wealth Management LLC bought a new position in shares of American States Water in the 4th quarter valued at about $30,000. Blue Trust Inc. lifted its holdings in American States Water by 367.3% during the fourth quarter. Blue Trust Inc. now owns 500 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 393 shares in the last quarter. Assetmark Inc. acquired a new position in American States Water in the third quarter valued at about $50,000. Farther Finance Advisors LLC increased its holdings in shares of American States Water by 18,820.0% in the third quarter. Farther Finance Advisors LLC now owns 946 shares of the utilities provider’s stock worth $79,000 after acquiring an additional 941 shares in the last quarter. Finally, KBC Group NV raised its position in shares of American States Water by 31.9% during the third quarter. KBC Group NV now owns 1,236 shares of the utilities provider’s stock worth $103,000 after purchasing an additional 299 shares during the period. 75.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on AWR. Wells Fargo & Company cut American States Water from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $84.00 to $77.00 in a research note on Tuesday, January 7th. StockNews.com downgraded shares of American States Water from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th. Finally, Bank of America cut American States Water from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $85.00 to $71.00 in a research report on Monday, February 3rd.

American States Water Stock Performance

Shares of NYSE:AWR opened at $75.04 on Wednesday. American States Water has a 1 year low of $66.03 and a 1 year high of $87.50. The company’s 50 day simple moving average is $75.73 and its 200 day simple moving average is $80.59. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.69 and a quick ratio of 0.64. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of 25.27, a price-to-earnings-growth ratio of 12.59 and a beta of 0.53.

American States Water Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be issued a dividend of $0.4655 per share. This represents a $1.86 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Tuesday, February 18th. American States Water’s dividend payout ratio (DPR) is presently 62.63%.

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.