Hancock Whitney Corp Decreases Stake in American States Water (NYSE:AWR)

Hancock Whitney Corp lowered its position in American States Water (NYSE:AWR) by 2.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 6,822 shares of the utilities provider’s stock after selling 169 shares during the quarter. Hancock Whitney Corp’s holdings in American States Water were worth $493,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Assetmark Inc. boosted its position in shares of American States Water by 633.3% during the 4th quarter. Assetmark Inc. now owns 352 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 304 shares during the last quarter. Northwest Financial Advisors bought a new stake in shares of American States Water during the 4th quarter valued at about $32,000. Principal Securities Inc. bought a new stake in shares of American States Water during the 4th quarter valued at about $34,000. TFO Wealth Partners LLC boosted its position in shares of American States Water by 44,000.0% during the 4th quarter. TFO Wealth Partners LLC now owns 441 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 440 shares during the last quarter. Finally, Clarity Asset Management Inc. bought a new stake in shares of American States Water during the 4th quarter valued at about $76,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American States Water Trading Up 0.5 %

American States Water stock traded up $0.42 during trading hours on Thursday, reaching $82.95. The company had a trading volume of 98,250 shares, compared to its average volume of 224,369. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.15 and a quick ratio of 1.06. The company has a 50-day moving average price of $74.31 and a 200 day moving average price of $73.64. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of 27.02, a P/E/G ratio of 4.35 and a beta of 0.46. American States Water has a 12-month low of $66.03 and a 12-month high of $89.73.

American States Water (NYSE:AWR) last announced its quarterly earnings results on Wednesday, May 8th. The utilities provider reported $0.62 EPS for the quarter, hitting analysts’ consensus estimates of $0.62. The business had revenue of $135.30 million for the quarter, compared to analysts’ expectations of $119.00 million. American States Water had a return on equity of 13.65% and a net margin of 19.95%. The business’s quarterly revenue was down 16.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.54 EPS. Equities analysts forecast that American States Water will post 3.01 earnings per share for the current year.

American States Water Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th will be paid a $0.4655 dividend. This is a boost from American States Water’s previous quarterly dividend of $0.43. This represents a $1.86 dividend on an annualized basis and a yield of 2.24%. American States Water’s payout ratio is 56.21%.

Insiders Place Their Bets

In other American States Water news, Director Thomas A. Eichelberger bought 640 shares of American States Water stock in a transaction dated Wednesday, May 22nd. The shares were purchased at an average cost of $77.62 per share, with a total value of $49,676.80. Following the completion of the purchase, the director now owns 7,006 shares of the company’s stock, valued at $543,805.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Mary Ann Hopkins purchased 560 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were bought at an average cost of $71.53 per share, for a total transaction of $40,056.80. Following the completion of the transaction, the director now directly owns 3,606 shares of the company’s stock, valued at approximately $257,937.18. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas A. Eichelberger purchased 640 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were purchased at an average price of $77.62 per share, for a total transaction of $49,676.80. Following the completion of the transaction, the director now directly owns 7,006 shares of the company’s stock, valued at $543,805.72. The disclosure for this purchase can be found here. Insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company upgraded American States Water from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $80.00 to $87.00 in a research report on Wednesday.

About American States Water

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.