PNC Financial Services Group Inc. cut its holdings in American States Water (NYSE:AWR – Free Report) by 2.9% during the third quarter, HoldingsChannel reports. The fund owned 9,856 shares of the utilities provider’s stock after selling 295 shares during the period. PNC Financial Services Group Inc.’s holdings in American States Water were worth $775,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Raymond James & Associates raised its position in American States Water by 2.9% in the first quarter. Raymond James & Associates now owns 45,725 shares of the utilities provider’s stock valued at $4,070,000 after purchasing an additional 1,268 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in American States Water by 4.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,634 shares of the utilities provider’s stock valued at $324,000 after purchasing an additional 141 shares during the period. Citigroup Inc. raised its position in American States Water by 28.3% in the first quarter. Citigroup Inc. now owns 36,658 shares of the utilities provider’s stock valued at $3,264,000 after purchasing an additional 8,078 shares during the period. Bank of Montreal Can raised its position in American States Water by 2.1% in the first quarter. Bank of Montreal Can now owns 25,620 shares of the utilities provider’s stock valued at $2,297,000 after purchasing an additional 536 shares during the period. Finally, MetLife Investment Management LLC raised its position in American States Water by 54.1% in the first quarter. MetLife Investment Management LLC now owns 19,491 shares of the utilities provider’s stock valued at $1,735,000 after purchasing an additional 6,846 shares during the period. 74.67% of the stock is currently owned by institutional investors and hedge funds.
American States Water Stock Down 0.2 %
American States Water stock opened at $72.04 on Tuesday. American States Water has a twelve month low of $71.29 and a twelve month high of $95.07. The stock’s fifty day simple moving average is $77.38 and its 200-day simple moving average is $79.92. The company has a current ratio of 1.24, a quick ratio of 1.13 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $2.66 billion, a P/E ratio of 21.38, a P/E/G ratio of 3.88 and a beta of 0.44.
American States Water (NYSE:AWR – Get Free Report) last posted its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. American States Water had a return on equity of 13.54% and a net margin of 20.97%. The business had revenue of $125.20 million for the quarter, compared to analyst estimates of $132.00 million. During the same quarter in the prior year, the company earned $0.42 earnings per share. The company’s revenue was down .2% on a year-over-year basis. As a group, equities analysts expect that American States Water will post 2.96 earnings per share for the current fiscal year.
American States Water Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Tuesday, February 20th will be paid a dividend of $0.43 per share. The ex-dividend date is Friday, February 16th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.39%. American States Water’s payout ratio is currently 51.04%.
Wall Street Analyst Weigh In
AWR has been the topic of a number of research analyst reports. StockNews.com lowered American States Water from a “hold” rating to a “sell” rating in a research report on Thursday, November 23rd. Wells Fargo & Company cut their price objective on American States Water from $79.00 to $77.00 and set an “underweight” rating on the stock in a research report on Friday.
Read Our Latest Analysis on AWR
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.
Further Reading
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Source: americanbankingnews.com
