Allianz Asset Management GmbH Boosts Stock Holdings in American States Water Company $AWR

Allianz Asset Management GmbH lifted its stake in shares of American States Water Company (NYSE:AWR) by 18.0% during the second quarter, Holdings Channel reports. The fund owned 44,278 shares of the utilities provider’s stock after acquiring an additional 6,751 shares during the period. Allianz Asset Management GmbH’s holdings in American States Water were worth $3,394,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of AWR. Golden State Wealth Management LLC increased its position in shares of American States Water by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 760 shares of the utilities provider’s stock worth $60,000 after acquiring an additional 380 shares during the period. Strs Ohio purchased a new stake in shares of American States Water during the first quarter worth $87,000. GAMMA Investing LLC grew its stake in shares of American States Water by 145.9% during the second quarter. GAMMA Investing LLC now owns 2,115 shares of the utilities provider’s stock worth $162,000 after purchasing an additional 1,255 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of American States Water by 62.2% during the first quarter. Smartleaf Asset Management LLC now owns 2,413 shares of the utilities provider’s stock worth $187,000 after purchasing an additional 925 shares in the last quarter. Finally, Mackenzie Financial Corp acquired a new position in shares of American States Water during the first quarter worth $200,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American States Water Stock Performance

NYSE AWR opened at $76.52 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.56 and a quick ratio of 1.46. American States Water Company has a 1 year low of $69.85 and a 1 year high of $87.20. The company has a market capitalization of $2.95 billion, a PE ratio of 23.40, a P/E/G ratio of 4.11 and a beta of 0.64. The company has a fifty day moving average of $73.56 and a two-hundred day moving average of $76.07.

American States Water (NYSE:AWR) last released its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.05). American States Water had a net margin of 20.26% and a return on equity of 13.14%. The company had revenue of $163.07 million during the quarter, compared to analyst estimates of $170.64 million. During the same quarter in the prior year, the company earned $0.85 EPS. The business’s revenue was up 5.0% on a year-over-year basis. As a group, analysts expect that American States Water Company will post 3.34 earnings per share for the current year.

American States Water Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were paid a $0.504 dividend. This is a boost from American States Water’s previous quarterly dividend of $0.47. This represents a $2.02 annualized dividend and a yield of 2.6%. The ex-dividend date was Friday, August 15th. American States Water’s payout ratio is currently 61.77%.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of American States Water in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, American States Water currently has an average rating of “Reduce” and a consensus price target of $77.50.

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.