Handelsbanken Fonder AB Invests $302,000 in American States Water (NYSE:AWR)

Handelsbanken Fonder AB bought a new position in American States Water (NYSE:AWR) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,000 shares of the utilities provider’s stock, valued at approximately $302,000.

Other hedge funds have also recently added to or reduced their stakes in the company. CI Investments Inc. acquired a new stake in shares of American States Water in the 4th quarter worth $33,000. Fieldpoint Private Securities LLC acquired a new stake in shares of American States Water in the fourth quarter valued at about $37,000. Signaturefd LLC lifted its stake in shares of American States Water by 264.7% in the fourth quarter. Signaturefd LLC now owns 569 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 413 shares during the period. Meeder Asset Management Inc. lifted its stake in shares of American States Water by 716.5% in the fourth quarter. Meeder Asset Management Inc. now owns 890 shares of the utilities provider’s stock valued at $71,000 after purchasing an additional 781 shares during the period. Finally, Veriti Management LLC acquired a new stake in shares of American States Water in the fourth quarter valued at about $92,000. Institutional investors own 69.39% of the company’s stock.

Shares of AWR opened at $78.47 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.15 and a debt-to-equity ratio of 0.84. The stock has a market cap of $2.90 billion, a P/E ratio of 35.03, a PEG ratio of 6.96 and a beta of -0.07. The company has a 50-day moving average of $78.49 and a two-hundred day moving average of $77.27. American States Water has a 12-month low of $69.25 and a 12-month high of $84.00.

American States Water (NYSE:AWR) last announced its earnings results on Sunday, May 2nd. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07. The company had revenue of $117.06 million during the quarter, compared to analysts’ expectations of $114.00 million. American States Water had a net margin of 17.38% and a return on equity of 13.49%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.38 earnings per share. As a group, analysts forecast that American States Water will post 2.27 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 2nd. Shareholders of record on Monday, May 17th will be given a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend is Friday, May 14th. American States Water’s payout ratio is currently 62.91%.

Several analysts recently commented on the stock. Zacks Investment Research upgraded shares of American States Water from a “sell” rating to a “hold” rating and set a $78.00 price objective for the company in a research note on Friday, February 26th. Wells Fargo & Company raised their price objective on shares of American States Water from $81.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, May 5th.

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.

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Institutional Ownership by Quarter for American States Water (NYSE:AWR)

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