Allspring Global Investments Holdings LLC Grows Stake in American States Water (NYSE:AWR)

Allspring Global Investments Holdings LLC lifted its holdings in American States Water (NYSE:AWR - Free Report) by 332.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 101,222 shares of the utilities provider's stock after acquiring an additional 77,792 shares during the period. Allspring Global Investments Holdings LLC owned 0.27% of American States Water worth $7,753,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Golden State Wealth Management LLC bought a new position in shares of American States Water in the fourth quarter worth about $30,000. Blue Trust Inc. boosted its stake in shares of American States Water by 367.3% in 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 during the period. Assetmark Inc. bought a new position in shares of American States Water in the third quarter worth about $50,000. Farther Finance Advisors LLC boosted its stake 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 during the period. Finally, KBC Group NV boosted its stake in shares of American States Water by 31.9% in the third quarter. KBC Group NV now owns 1,236 shares of the utilities provider's stock worth $103,000 after acquiring an additional 299 shares during the period. Institutional investors own 75.24% of the company's stock.

American States Water Price Performance

American States Water stock traded up $0.18 during midday trading on Friday, reaching $75.47. 275,265 shares of the stock traded hands, compared to its average volume of 197,478. The stock's fifty day moving average is $75.41 and its 200-day moving average is $80.51. American States Water has a 12 month low of $66.03 and a 12 month high of $87.50. The stock has a market cap of $2.83 billion, a P/E ratio of 23.81, a PEG ratio of 12.77 and a beta of 0.53. The company has a quick ratio of 0.64, a current ratio of 0.69 and a debt-to-equity ratio of 0.86.

American States Water (NYSE:AWR - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.64 by $0.05. American States Water had a return on equity of 13.96% and a net margin of 20.03%. The business had revenue of $143.10 million for the quarter, compared to the consensus estimate of $160.17 million. As a group, equities research analysts anticipate that American States Water will post 3.34 EPS for the current year.

American States Water Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th will be given a dividend of $0.4655 per share. The ex-dividend date is Tuesday, February 18th. This represents a $1.86 dividend on an annualized basis and a yield of 2.47%. American States Water's dividend payout ratio (DPR) is presently 58.68%.

Wall Street Analyst Weigh In

AWR has been the subject of a number of recent analyst reports. StockNews.com lowered American States Water from a "hold" rating to a "sell" rating in a research note on Wednesday, November 27th. Bank of America lowered American States Water from a "neutral" rating to an "underperform" rating and dropped their price target for the company from $85.00 to $71.00 in a research note on Monday, February 3rd. Finally, Wells Fargo & Company lowered American States Water from an "equal weight" rating to an "underweight" rating and dropped their price target for the company from $84.00 to $77.00 in a research note on Tuesday, January 7th.

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.