PNC Financial Services Group Inc. Boosts Stake in American States Water Co (NYSE:AWR)

PNC Financial Services Group Inc. increased its position in shares of American States Water Co (NYSE:AWR) by 1.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,385 shares of the utilities provider’s stock after buying an additional 286 shares […]

PNC Financial Services Group Inc. increased its position in shares of American States Water Co (NYSE:AWR) by 1.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,385 shares of the utilities provider’s stock after buying an additional 286 shares during the quarter. PNC Financial Services Group Inc.’s holdings in American States Water were worth $1,289,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AWR. Neuberger Berman Group LLC increased its holdings in shares of American States Water by 18.8% in the second quarter. Neuberger Berman Group LLC now owns 3,559 shares of the utilities provider’s stock valued at $280,000 after buying an additional 564 shares in the last quarter. Private Advisor Group LLC acquired a new position in American States Water in the 2nd quarter valued at approximately $1,466,000. Canada Pension Plan Investment Board purchased a new stake in American States Water in the 2nd quarter worth approximately $157,000. Man Group plc boosted its stake in shares of American States Water by 132.9% during the 2nd quarter. Man Group plc now owns 103,377 shares of the utilities provider’s stock valued at $8,129,000 after buying an additional 58,995 shares during the period. Finally, Cubist Systematic Strategies LLC grew its holdings in shares of American States Water by 48.7% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 18,008 shares of the utilities provider’s stock valued at $1,416,000 after acquiring an additional 5,895 shares in the last quarter. 69.32% of the stock is currently owned by institutional investors.

A number of research firms recently issued reports on AWR. UBS Group lifted their price objective on American States Water from $65.00 to $70.00 and gave the company a “sell” rating in a research report on Monday, June 22nd. Wells Fargo & Company upgraded American States Water from an “equal weight” rating to an “overweight” rating and set a $79.00 price target for the company in a report on Monday. Finally, Zacks Investment Research upgraded American States Water from a “hold” rating to a “buy” rating and set a $84.00 price objective on the stock in a report on Monday, August 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $82.00.

Shares of AWR stock opened at $72.92 on Friday. The stock’s 50 day simple moving average is $76.06 and its 200 day simple moving average is $78.89. American States Water Co has a twelve month low of $65.11 and a twelve month high of $96.64. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.81 and a current ratio of 0.86. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of 31.98, a PEG ratio of 6.55 and a beta of -0.14.

American States Water (NYSE:AWR) last released its quarterly earnings results on Monday, August 3rd. The utilities provider reported $0.69 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.69. The company had revenue of $121.28 million for the quarter, compared to analyst estimates of $138.13 million. American States Water had a net margin of 17.66% and a return on equity of 13.51%. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.64 earnings per share. On average, analysts forecast that American States Water Co will post 2.29 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were given a dividend of $0.335 per share. This is a positive change from American States Water’s previous quarterly dividend of $0.31. The ex-dividend date was Friday, August 14th. This represents a $1.34 dividend on an annualized basis and a yield of 1.84%. American States Water’s payout ratio is currently 62.91%.

American States Water Company Profile

American States Water Company, through its subsidiaries, provides water and electric services to residential, 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.

Further Reading: What is Compound Annual Growth Rate (CAGR)?

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

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