Citigroup Inc. Increases Holdings in American States Water (NYSE:AWR)

Posted by MarketBeat News on May 26th, 2023

Citigroup Inc. increased its position in American States Water (NYSE:AWR – Get Rating) by 26.3% in the 4th quarter, HoldingsChannel reports. The fund owned 22,126 shares of the utilities provider’s stock after purchasing an additional 4,603 shares during the period. Citigroup Inc.’s holdings in American States Water were worth $2,048,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. HighTower Advisors LLC increased its holdings in American States Water by 34.6% in the 4th quarter. HighTower Advisors LLC now owns 16,328 shares of the utilities provider’s stock worth $1,515,000 after acquiring an additional 4,199 shares during the last quarter. Raymond James & Associates increased its holdings in American States Water by 1.9% in the 4th quarter. Raymond James & Associates now owns 43,464 shares of the utilities provider’s stock worth $4,023,000 after acquiring an additional 790 shares during the last quarter. FORA Capital LLC purchased a new stake in American States Water in the 4th quarter worth about $280,000. Northstar Asset Management Inc. purchased a new stake in American States Water in the 4th quarter worth about $4,267,000. Finally, UBS Group AG grew its holdings in American States Water by 14.1% during the 4th quarter. UBS Group AG now owns 74,123 shares of the utilities provider’s stock valued at $6,860,000 after buying an additional 9,153 shares in the last quarter. Hedge funds and other institutional investors own 74.09% of the company’s stock.

American States Water Stock Performance

Shares of AWR opened at $87.73 on Friday. The company has a market cap of $3.24 billion, a PE ratio of 32.98 and a beta of 0.41. The company has a current ratio of 0.45, a quick ratio of 0.40 and a debt-to-equity ratio of 0.82. The stock has a 50-day moving average price of $89.56 and a 200-day moving average price of $92.30. American States Water has a 12-month low of $71.22 and a 12-month high of $100.50.

Want More Great Investing Ideas?

American States Water (NYSE:AWR – Get Rating) last released its earnings results on Wednesday, March 1st. The utilities provider reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.34). The firm had revenue of $125.37 million during the quarter. American States Water had a return on equity of 12.74% and a net margin of 18.12%. As a group, equities analysts forecast that American States Water will post 2.97 earnings per share for the current fiscal year.

American States Water Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Friday, May 19th will be given a $0.3975 dividend. The ex-dividend date of this dividend is Thursday, May 18th. This represents a $1.59 dividend on an annualized basis and a yield of 1.81%. American States Water’s payout ratio is 59.77%.

Insider Buying and Selling

In other news, Director Thomas A. Eichelberger bought 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The stock was bought at an average price of $89.99 per share, for a total transaction of $179,980.00. Following the transaction, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $179,980. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.82% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Wells Fargo & Company raised American States Water from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $90.00 to $94.00 in a report on Friday, May 12th. StockNews.com assumed coverage on American States Water in a report on Thursday, May 18th. They set a “hold” rating for the company. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat.com, American States Water currently has a consensus rating of “Hold” and an average price target of $88.67.