Cornerstone Wealth Management LLC Increases Position in American States Water (NYSE:AWR)

Cornerstone Wealth Management LLC lifted its holdings in shares of American States Water (NYSE:AWR) by 4.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 46,975 shares of the utilities provider’s stock after buying an additional 1,887 shares during the period. Cornerstone Wealth Management LLC’s holdings in American States Water were worth $3,913,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Inspire Investing LLC boosted its stake in shares of American States Water by 2.9% in the first quarter. Inspire Investing LLC now owns 5,026 shares of the utilities provider’s stock valued at $363,000 after buying an additional 140 shares in the last quarter. CWM LLC boosted its position in shares of American States Water by 31.4% during the 2nd quarter. CWM LLC now owns 1,045 shares of the utilities provider’s stock worth $76,000 after purchasing an additional 250 shares in the last quarter. Arizona State Retirement System grew its stake in shares of American States Water by 2.5% during the 2nd quarter. Arizona State Retirement System now owns 10,421 shares of the utilities provider’s stock worth $756,000 after purchasing an additional 258 shares during the period. QRG Capital Management Inc. lifted its stake in shares of American States Water by 9.6% in the second quarter. QRG Capital Management Inc. now owns 3,075 shares of the utilities provider’s stock valued at $223,000 after purchasing an additional 269 shares during the period. Finally, First Pacific Financial boosted its holdings in American States Water by 3.4% during the third quarter. First Pacific Financial now owns 8,783 shares of the utilities provider’s stock worth $732,000 after buying an additional 291 shares in the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American States Water Stock Up 1.5 %

AWR stock opened at $87.29 on Thursday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.70 and a quick ratio of 0.64. The company’s 50 day simple moving average is $82.52 and its 200-day simple moving average is $77.02. American States Water has a 12 month low of $66.03 and a 12 month high of $87.50. The firm has a market capitalization of $3.27 billion, a PE ratio of 30.41, a P/E/G ratio of 4.47 and a beta of 0.49.

American States Water (NYSE:AWR) last posted its quarterly earnings data on Tuesday, August 6th. The utilities provider reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.02). The company had revenue of $155.30 million for the quarter, compared to analysts’ expectations of $138.00 million. American States Water had a return on equity of 13.45% and a net margin of 18.85%. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.83 EPS. Equities analysts expect that American States Water will post 3.03 earnings per share for the current fiscal year.

American States Water Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 16th were paid a dividend of $0.4655 per share. This is an increase from American States Water’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.86 annualized dividend and a dividend yield of 2.13%. American States Water’s dividend payout ratio is presently 64.81%.

Insiders Place Their Bets

In other American States Water news, Director Anne M. Holloway sold 500 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $80.89, for a total transaction of $40,445.00. Following the transaction, the director now owns 38,519 shares of the company’s stock, valued at $3,115,801.91. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.82% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

AWR has been the subject of a number of research analyst reports. StockNews.com cut shares of American States Water from a “hold” rating to a “sell” rating in a report on Wednesday, September 25th. Wells Fargo & Company upgraded American States Water from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $80.00 to $87.00 in a research report on Wednesday, July 31st.

American States Water 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.