Executive Buying Spree at American States Water Signals Confidence Amid Quiet Market

Insider Buying in a Quiet Market

American States Water Co.’s latest 4‑form filing shows Vice President David Schickling purchasing roughly 8.3 shares on June 3, 2025, followed by similar transactions in September and December, before selling about 62 shares on February 18, 2026. The buys were executed at market prices near $78–$73, while the sell was at $74.88. The trade volume is modest relative to the company’s 2.8 million‑share float, but it signals that senior management remains comfortable with the stock’s valuation during a period of modest price decline (a 2.6 % drop on the day of the sale).

Coordinated Activity Across the Executive Team

Schickling’s activity mirrors a broader pattern of quarterly buying among the company’s top executives. From June to December 2025, five other VPs—Pillai, Pierotti, Miller, Kubiak, and Farrow—each purchased between 8 and 12 shares. The February 18, 2026 sell by each of these insiders (61.93 to 79.13 shares) coincides with Schickling’s divestiture, suggesting a coordinated portfolio rebalancing rather than a reaction to a single event. The timing aligns with the release of the firm’s 2025 year‑end earnings and a dividend announcement, which may have prompted executives to lock in gains before the year‑end window.

Implications for Investors

The insider buying spree implies confidence in the company’s long‑term prospects. Executives are willing to add to their holdings even as the share price has dipped below its 52‑week low of $69.45, reflecting belief in the company’s stable cash flows and dividend policy. The subsequent sales, though small, are typical of executives meeting tax‑planning or liquidity needs; they do not necessarily signal a bearish outlook. For investors, the pattern suggests that management views the stock as a solid, long‑term investment, which could reinforce a buy‑and‑hold thesis, especially given the utility’s stable regulatory environment and the company’s consistent dividend payouts.

Looking Ahead

American States Water Co. continues to navigate regulatory rate changes and infrastructure investments while maintaining earnings stability. The recent insider activity—balanced between buying and modest selling—indicates that senior leaders are neither over‑optimistic nor alarmed by short‑term volatility. Investors should watch for the next earnings cycle and any major capital‑expenditure announcements, but the current insider sentiment points to a cautiously optimistic view of the company’s trajectory.