American States Water Co (AWR) Price Target Cut to $41.00

American States Water Co (NYSE:AWR) had its price objective dropped by Barclays PLC from $43.00 to $41.00 in a report issued on Friday. The brokerage presently has an “underweight” rating on the stock. Barclays PLC’s price objective indicates a potential downside of 7.09% from the stock’s current price.

Separately, Zacks Investment Research raised shares of American States Water from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research report on Tuesday, January 3rd.

American States Water (NYSE:AWR) opened at 44.13 on Friday. American States Water has a 12 month low of $37.28 and a 12 month high of $46.39. The firm has a market cap of $1.61 billion, a PE ratio of 27.22 and a beta of 0.42. The company has a 50-day moving average price of $43.76 and a 200 day moving average price of $42.10.

American States Water (NYSE:AWR) last posted its quarterly earnings data on Thursday, February 23rd. The company reported $0.30 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.30. The company earned $106.80 million during the quarter, compared to analysts’ expectations of $125.20 million. American States Water had a net margin of 13.69% and a return on equity of 12.65%. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.31 EPS. Equities research analysts anticipate that American States Water will post $1.69 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 1st. Shareholders of record on Wednesday, February 15th were given a $0.242 dividend. The ex-dividend date of this dividend was Monday, February 13th. This represents a $0.97 dividend on an annualized basis and a yield of 2.19%. American States Water’s payout ratio is currently 59.51%.

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In other American States Water news, insider Denise L. Kruger sold 1,250 shares of the company’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $45.46, for a total value of $56,825.00. Following the completion of the transaction, the insider now directly owns 18,995 shares of the company’s stock, valued at approximately $863,512.70. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Gladys Farrow sold 733 shares of the company’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $43.38, for a total transaction of $31,797.54. Following the completion of the transaction, the vice president now directly owns 3,090 shares of the company’s stock, valued at $134,044.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,783 shares of company stock valued at $344,674. 1.43% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of AWR. KBC Group NV boosted its position in shares of American States Water by 27.0% in the third quarter. KBC Group NV now owns 127,886 shares of the company’s stock valued at $5,122,000 after buying an additional 27,210 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of American States Water by 12.7% in the third quarter. Bank of New York Mellon Corp now owns 867,079 shares of the company’s stock valued at $34,725,000 after buying an additional 97,816 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of American States Water by 374.2% in the third quarter. Victory Capital Management Inc. now owns 11,906 shares of the company’s stock valued at $477,000 after buying an additional 9,395 shares during the last quarter. TD Asset Management Inc. bought a new position in shares of American States Water during the third quarter valued at approximately $260,000. Finally, Aperio Group LLC boosted its position in shares of American States Water by 1.6% in the third quarter. Aperio Group LLC now owns 25,576 shares of the company’s stock valued at $1,024,000 after buying an additional 399 shares during the last quarter. 63.97% of the stock is owned by institutional investors.

About American States Water

American States Water Company (AWR) is a holding company. The Company is the parent company of Golden State Water Company (GSWC) and American States Utility Services, Inc (ASUS), as well as ASUS’ subsidiaries, such as Fort Bliss Water Services Company (FBWS), Terrapin Utility Services, Inc (TUS), Old Dominion Utility Services, Inc (ODUS), Palmetto State Utility Services, Inc (PSUS) and Old North Utility Services, Inc (ONUS).

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