American States Water Company (AWR)

In the past six months, AWR's stock price was impacted by several events. In November 2025, AWR announced its third-quarter results, reporting diluted EPS of $1.06 and revenue of $182.72 million, surpassing expectations, leading to a 1.32% stock increase. The company also announced a second-quarter dividend of $0.50 in November 2025 and approved a quarterly dividend payable in December 2025. In December 2025, Golden State Water Company received CPUC approval for 2026 water revenue increases. However, in early January 2026, analyst concerns regarding AWR's valuation were highlighted, noting that the company's P/E ratio appeared elevated relative to its earnings outlook. Overall, AWR's stock performance in the past six months showed a decline of approximately 3.83%.

Demand seasonality for American States Water Co.'s products and services is influenced by several factors. For its water utility segment, Golden State Water Company, revenue can experience fluctuations due to climate and usage uncertainties; however, regulatory changes have shifted GSWC to a modified rate adjustment mechanism and an incremental cost balancing account, reducing exposure to variations in customer usage and supply costs. For the contracted services segment, revenues can see ups and downs depending on the amount of construction activity on military bases. Utility demand, in general, can be influenced by weather patterns.

American States Water Co. (AWR) is a publicly traded utility holding company established in 1929, based in San Dimas, California. The company operates through three segments: Water, Electric, and Contracted Services, focusing on water and electricity distribution. The Water segment, through Golden State Water Company (GSWC), serves approximately 265,000 customer connections in California. The Electric segment, operated by Bear Valley Electric Service, Inc. (BVES), distributes electricity to around 25,000 customer connections in Big Bear Lake, California. The Contracted Services segment, managed by American States Utility Services, Inc. (ASUS), provides services to 12 military bases nationwide. The majority of AWR's revenue comes from water services and it is categorized within the Utilities sector.

American States Water Co.'s geographic footprint is concentrated in California for its regulated utility operations and extends nationwide for its contracted services. Golden State Water Company serves approximately 265,000 water customer connections across 10 counties in Northern, Coastal, and Southern California. Bear Valley Electric Service, Inc. distributes electricity to about 25,000 customer connections in the City of Big Bear Lake and surrounding areas in San Bernardino County, California. Through its American States Utility Services, Inc. subsidiary, the company provides water and wastewater services to 12 military installations across the country under long-term contracts.

American States Water Co. has maintained a positive brand reputation in the past year. In August 2025, the company was named on TIME's America's Best Mid-Size Companies 2025 list. This acknowledgment was based on criteria such as revenue growth, employee satisfaction, and sustainability transparency. The company's reports have an aggregate usefulness score of 4.8 out of 5.0 based on numerous reviews.

American States Water Co. is predominantly owned by institutional shareholders, holding approximately 80.46% of the company. Retail investors account for 17.20% of ownership, while American States Water Co. insiders own 2.34%. BlackRock Inc. holds 17.63% of shares, Vanguard Group Inc. holds 12.55% of shares, Neuberger Berman Group LLC owns 6.22% of shares, State Street Corp holds 5.34% of shares, Geode Capital Management LLC holds 2.34% of shares, First Trust Advisors LP holds 2.23% of shares, Dimensional Fund Advisors LP holds 1.90% of shares, Principal Financial Group Inc owns 1.86% of shares, Morgan Stanley holds 1.52% of shares, and Invesco Ltd holds 1.49% of shares. The largest individual shareholder is Robert J. Sprowls, who owns 203,371 shares, representing 0.53% of the company.