Cornerstone Wealth Management LLC Purchases 449 Shares of American States Water (NYSE:AWR)

Cornerstone Wealth Management LLC lifted its position in American States Water (NYSE:AWR) by 1.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 47,424 shares of the utilities provider’s stock after purchasing an additional 449 shares during the period. Cornerstone Wealth Management LLC owned about 0.13% of American States Water worth $3,686,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Inspire Investing LLC grew its holdings in shares of American States Water by 4.1% in the fourth quarter. Inspire Investing LLC now owns 5,257 shares of the utilities provider’s stock worth $409,000 after purchasing an additional 206 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings 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 in the last quarter. SG Americas Securities LLC boosted its holdings in American States Water by 875.3% in the fourth quarter. SG Americas Securities LLC now owns 14,346 shares of the utilities provider’s stock valued at $1,115,000 after acquiring an additional 12,875 shares in the last quarter. Perpetual Ltd boosted its holdings in American States Water by 8.4% in the fourth quarter. Perpetual Ltd now owns 107,353 shares of the utilities provider’s stock valued at $8,343,000 after acquiring an additional 8,278 shares in the last quarter. Finally, Essex Savings Bank bought a new stake in American States Water in the fourth quarter valued at $273,000. Institutional investors own 75.24% of the company’s stock.

American States Water Price Performance

AWR opened at $72.16 on Friday. The stock has a 50-day moving average price of $79.50 and a 200-day moving average price of $81.28. 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 firm has a market cap of $2.70 billion, a PE ratio of 24.30, a P/E/G ratio of 11.67 and a beta of 0.53. American States Water has a 1 year low of $66.03 and a 1 year high of $87.50.

American States Water (NYSE:AWR) last posted its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.03). The company had revenue of $161.78 million during the quarter, compared to analysts’ expectations of $161.00 million. American States Water had a return on equity of 13.53% and a net margin of 19.26%. American States Water’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.85 EPS. Sell-side analysts predict that American States Water will post 3.02 earnings per share for the current fiscal year.

American States Water Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 15th were given a $0.4655 dividend. This represents a $1.86 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend was Friday, November 15th. American States Water’s dividend payout ratio is presently 62.63%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Bank of America assumed coverage on shares of American States Water in a report on Wednesday, December 11th. They issued a “neutral” rating and a $85.00 price target on the stock. Wells Fargo & Company lowered American States Water from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $84.00 to $77.00 in a research report on Tuesday, January 7th. Finally, StockNews.com lowered American States Water from a “hold” rating to a “sell” rating in a research report on Wednesday, November 27th.

American States Water 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.