SCHEDULE: BlackRock Discloses 17.2% Passive Stake in American States Water Company

BlackRock, Inc. has filed an updated Schedule 13G, reporting a beneficial ownership of 17.2% of American States Water Company's common stock as of June 30, 2025.

Summary

• BlackRock, Inc. beneficially owns 6,637,584 shares of American States Water Company's common stock.
• This ownership represents 17.2% of the total outstanding common stock of American States Water Company.
• BlackRock holds sole voting power over 6,538,484 shares and sole dispositive power over 6,637,584 shares.
• No shared voting or dispositive power is reported.
• The filing is made under Rule 13d-1(b), indicating that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.
• iShares Core S&P Small-Cap ETF, a BlackRock entity, is identified as having an interest of more than five percent of the total outstanding common stock of American States Water Company.
• The filing includes an updated Power of Attorney, executed on January 21, 2025, which revokes a previous power of attorney dated April 30, 2023.

Sentiment

Score: 7

Explanation: The disclosure of a significant, passive institutional stake by BlackRock is generally a positive signal, indicating confidence from a major investor, though it is a routine compliance filing and not indicative of new strategic developments or financial performance.

Positives

• The disclosure of a significant, passive stake by a major institutional investor like BlackRock can be viewed as a vote of confidence in American States Water Company.

Risks

• The filing explicitly states that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer, which mitigates potential risks associated with activist investor involvement.

Future Outlook

The Schedule 13G filing does not provide any forward-looking statements or guidance regarding American States Water Company's future financial performance or strategic outlook, as its purpose is solely to disclose beneficial ownership.

Industry Context

This filing reflects a routine disclosure by a major asset manager, BlackRock, of its significant passive investment in a U.S. utility company. Such investments are common for large institutional funds seeking stable, long-term holdings, often through index-tracking or diversified portfolios, consistent with the utility sector's characteristics.

Stakeholder Impact

• Shareholders: The disclosure provides transparency regarding a significant institutional holder, which can influence investor perception and liquidity.
• Company Management: Awareness of a large, passive institutional holder like BlackRock may influence corporate governance considerations, though BlackRock explicitly states no intent to influence control.

Next Steps

• BlackRock, Inc. will continue to monitor its beneficial ownership in American States Water Company and file subsequent amendments to Schedule 13G as required by SEC regulations.

Key Dates

Recommendation

Keywords

American States Water Company, BlackRock, Schedule 13G, beneficial ownership, common stock, institutional investment, utilities, water utility, passive investment