Perigon Wealth Management LLC Acquires New Stake in American States Water Company $AWR

Perigon Wealth Management LLC acquired a new position in shares of American States Water Company (NYSE:AWR – Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 6,794 shares of the utilities provider’s stock, valued at approximately $561,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in shares of American States Water by 4.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 462,887 shares of the utilities provider’s stock worth $33,550,000 after purchasing an additional 20,510 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of American States Water in the fourth quarter valued at approximately $2,379,000. Vanguard Group Inc. raised its position in shares of American States Water by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 4,975,947 shares of the utilities provider’s stock valued at $360,657,000 after buying an additional 118,702 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of American States Water by 632.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 153,931 shares of the utilities provider’s stock valued at $11,157,000 after buying an additional 132,929 shares during the period. Finally, Kennedy Capital Management LLC lifted its stake in shares of American States Water by 41.1% during the fourth quarter. Kennedy Capital Management LLC now owns 189,387 shares of the utilities provider’s stock valued at $13,727,000 after buying an additional 55,133 shares during the period. Institutional investors and hedge funds own 75.24% of the company’s stock.

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American States Water Trading Up 0.3%

AWR stock opened at $89.20 on Thursday. The company has a market cap of $3.54 billion, a price-to-earnings ratio of 24.44, a PEG ratio of 3.36 and a beta of 0.57. The company has a quick ratio of 0.90, a current ratio of 0.98 and a debt-to-equity ratio of 0.75. The business has a fifty day simple moving average of $84.23 and a 200-day simple moving average of $78.62. American States Water Company has a 52 week low of $69.45 and a 52 week high of $90.21.

American States Water (NYSE:AWR – Get Free Report) last issued its earnings results on Wednesday, August 5th. The utilities provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.16. American States Water had a return on equity of 13.50% and a net margin of 20.52%.The business had revenue of $181.29 million for the quarter, compared to analyst estimates of $171.72 million. During the same period last year, the company posted $0.87 EPS. The business’s quarterly revenue was up 11.2% on a year-over-year basis. On average, equities research analysts expect that American States Water Company will post 3.68 EPS for the current year.

American States Water Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Monday, August 17th will be issued a $0.5455 dividend. This is a positive change from American States Water’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, August 17th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.4%. American States Water’s dividend payout ratio (DPR) is 59.73%.

Analyst Upgrades and Downgrades

AWR has been the subject of several recent analyst reports. Zacks Research cut shares of American States Water from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 2nd. Freedom Capital upgraded American States Water to a “hold” rating in a report on Monday, June 29th. Finally, Weiss Ratings raised American States Water from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 30th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

Read Our Latest Report on AWR

About American States Water

(Free Report)

American States Water Company (NYSE: AWR), founded in 1929 and headquartered in San Dimas, California, is a publicly traded utility holding company. The company operates primarily through two regulated segments—water and electric utilities—and provides non-regulated water system services. Over its history, American States Water has expanded its footprint through strategic acquisitions and organic growth, positioning itself as a reliable provider of essential services in its core territories.

Within its regulated water utility segment, American States Water serves more than 250,000 residential, commercial and industrial customers across 35 communities in six counties of California.

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