Allspring Global Investments Holdings LLC Has $7.75 Million Stock Position in American States Water (NYSE:AWR)

Allspring Global Investments Holdings LLC raised its position in American States Water (NYSE:AWR) by 332.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 101,222 shares of the utilities provider’s stock after purchasing an additional 77,792 shares during the period. Allspring Global Investments Holdings LLC’s holdings in American States Water were worth $7,753,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Janney Montgomery Scott LLC boosted its stake in American States Water by 3.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 4,925 shares of the utilities provider’s stock valued at $383,000 after acquiring an additional 150 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in shares of American States Water by 1.1% in the fourth quarter. Louisiana State Employees Retirement System now owns 18,300 shares of the utilities provider’s stock worth $1,422,000 after purchasing an additional 200 shares in the last quarter. Inspire Investing LLC increased its stake in American States Water by 4.1% in the 4th quarter. Inspire Investing LLC now owns 5,257 shares of the utilities provider’s stock worth $409,000 after acquiring an additional 206 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of American States Water by 14.4% during the fourth quarter. GAMMA Investing LLC now owns 1,720 shares of the utilities provider’s stock worth $134,000 after purchasing an additional 216 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV increased its position in shares of American States Water by 3.1% in the third quarter. Creative Financial Designs Inc. ADV now owns 8,828 shares of the utilities provider’s stock worth $735,000 after purchasing an additional 269 shares during the last quarter. Institutional investors own 75.24% of the company’s stock.

American States Water Price Performance

AWR stock opened at $75.04 on Wednesday. American States Water has a 1 year low of $66.03 and a 1 year high of $87.50. The firm has a 50-day moving average of $75.73 and a 200 day moving average of $80.59. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.69 and a quick ratio of 0.64. The company has a market cap of $2.81 billion, a P/E ratio of 25.27, a PEG ratio of 12.59 and a beta of 0.53.

American States Water Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be given a dividend of $0.4655 per share. This represents a $1.86 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Tuesday, February 18th. American States Water’s dividend payout ratio (DPR) is 62.63%.

Analysts Set New Price Targets

AWR has been the subject of a number of research reports. Wells Fargo & Company cut shares of American States Water from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $84.00 to $77.00 in a research note on Tuesday, January 7th. Bank of America cut American States Water from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $85.00 to $71.00 in a report on Monday, February 3rd. Finally, StockNews.com cut American States Water from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th.

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.