Pinebridge Investments L.P. Boosts Position in American States Water Company (AWR)

Pinebridge Investments L.P. boosted its holdings in American States Water Company (NYSE:AWR) by 1.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 4,824 shares of the utilities provider’s stock after buying an additional 51 shares during the period. Pinebridge Investments L.P.’s holdings in American States Water were worth $229,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BNP Paribas Arbitrage SA raised its holdings in American States Water by 59.2% in the second quarter. BNP Paribas Arbitrage SA now owns 13,514 shares of the utilities provider’s stock valued at $641,000 after buying an additional 5,023 shares during the period. Principal Financial Group Inc. raised its holdings in American States Water by 5.3% in the second quarter. Principal Financial Group Inc. now owns 334,952 shares of the utilities provider’s stock valued at $15,880,000 after buying an additional 16,830 shares during the period. California Public Employees Retirement System raised its holdings in American States Water by 7.5% in the first quarter. California Public Employees Retirement System now owns 79,100 shares of the utilities provider’s stock valued at $3,504,000 after buying an additional 5,500 shares during the period. Investment Centers of America Inc. raised its holdings in American States Water by 15.5% in the first quarter. Investment Centers of America Inc. now owns 8,441 shares of the utilities provider’s stock valued at $373,000 after buying an additional 1,130 shares during the period. Finally, Chicago Equity Partners LLC purchased a new position in American States Water in the second quarter valued at approximately $2,454,000. Hedge funds and other institutional investors own 65.47% of the company’s stock.

Several research firms recently commented on AWR. Wells Fargo & Company raised their price target on shares of American States Water from $46.00 to $48.00 and gave the company a “market perform” rating in a report on Tuesday. BidaskClub upgraded shares of American States Water from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 13th. Zacks Investment Research lowered shares of American States Water from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Finally, US Capital Advisors reiterated a “hold” rating on shares of American States Water in a research note on Monday, July 17th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $44.50.

ILLEGAL ACTIVITY WARNING: “Pinebridge Investments L.P. Boosts Position in American States Water Company (AWR)” was originally reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this piece of content on another website, it was illegally copied and republished in violation of United States & international copyright and trademark legislation. The original version of this piece of content can be read at https://www.chaffeybreeze.com/2017/10/05/pinebridge-investments-l-p-boosts-position-in-american-states-water-company-awr.html.

Shares of American States Water Company (NYSE AWR) opened at 51.62 on Thursday. The stock’s 50 day moving average is $49.90 and its 200-day moving average is $47.46. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 27.86 and a beta of 0.45. American States Water Company has a 1-year low of $37.47 and a 1-year high of $51.98.

American States Water (NYSE:AWR) last posted its earnings results on Wednesday, August 2nd. The utilities provider reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.17. American States Water had a return on equity of 13.70% and a net margin of 15.44%. The firm had revenue of $113.20 million during the quarter, compared to analyst estimates of $119.23 million. During the same period in the previous year, the company earned $0.45 EPS. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, analysts anticipate that American States Water Company will post $1.70 EPS for the current year.

In related news, CEO Robert J. Sprowls sold 5,614 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $51.00, for a total value of $286,314.00. Following the completion of the sale, the chief executive officer now directly owns 111,346 shares in the company, valued at approximately $5,678,646. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Denise L. Kruger sold 1,250 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $49.61, for a total value of $62,012.50. Following the completion of the sale, the insider now owns 9,466 shares of the company’s stock, valued at $469,608.26. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,005 shares of company stock valued at $1,541,035. Corporate insiders own 1.49% of the company’s stock.

American States Water Company Profile

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).

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

Receive News & Ratings for American States Water Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American States Water Company and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply