Amundi Exits American States Water as EPS Beats Estimates
Amundi sold 90.9% of its American States Water stake in Q2, reducing its holding to 20,470 shares. The utility reported Q3 EPS of $1.09, beating consensus by $0.16.
Amundi reduced its position in American States Water (NYSE: AWR) by 90.9% during the second quarter, according to a recent 13F filing. The French asset manager sold 203,332 shares, leaving it with a residual stake of 20,470 shares valued at approximately $1.69 million. This transaction represents a near-total exit from the utility provider, reducing Amundi's ownership to 0.05% of the company’s total equity.
While Amundi scaled down its exposure, other institutional investors adjusted their portfolios with mixed signals. Mitsubishi UFJ Asset Management and the State of Wyoming each initiated new positions worth approximately $26,000 in the second quarter. Conversely, IFP Advisors increased its holding by 113.6% to 549 shares, and Plato Investment Management established a new position valued at $51,000. Collectively, hedge funds and other institutional investors retain 75.24% of American States Water’s outstanding stock.
Quarterly Results Exceed Consensus
American States Water reported third-quarter results on August 5, delivering earnings per share of $1.09. This figure surpassed the consensus estimate of $0.93 by $0.16. Revenue for the period reached $181.29 million, outpacing the expected $171.72 million and representing an 11.2% increase year-over-year. The company maintained a net margin of 20.52% and a return on equity of 13.50%.
Balance Sheet and Valuation Metrics
The utility’s financial structure shows a debt-to-equity ratio of 0.75, with a current ratio of 0.98 and a quick ratio of 0.90. American States Water trades at a market capitalization of $3.43 billion and a price-to-earnings ratio of 23.68. The stock’s beta of 0.57 indicates lower volatility relative to the broader market, while the 50-day moving average stands at $87.29 and the 200-day average at $80.57.
Insider Sales and Analyst Views
Director Anne Holloway sold 900 shares on August 19 at an average price of $88.86, realizing a total value of $79,974. This transaction reduced her direct holding by 2.28% to 38,518 shares. Corporate insiders currently own 0.90% of the company. On the sell side, Zacks Research downgraded the stock from strong-buy to hold in June, while Weiss Ratings upgraded it to buy in July. The current consensus rating remains a Hold.
