SCHEDULE: Neuberger Berman Adjusts Stake in American States Water

Neuberger Berman Group LLC and its affiliate Neuberger Berman Investment Advisers LLC have filed an amendment to their Schedule 13G, reporting changes in their beneficial ownership of American States Water Co. common stock.

Summary

• Neuberger Berman Group LLC and Neuberger Berman Investment Advisers LLC have filed an amendment (Amendment No. 1) to their Schedule 13G filing.
• The filing pertains to their beneficial ownership of common stock in American States Water Co.
• The event triggering this filing is the change in beneficial ownership as of September 30, 2026.
• Neuberger Berman Group LLC, through its subsidiaries, controls various entities that may be deemed to beneficially own the securities.
• The filing disclaims beneficial ownership for specific entities, stating they are not the beneficial owner of the securities covered by this report.
• Securities held by certain separated subsidiaries are not reflected in this filing due to information barriers.

Sentiment

Score: 3

Explanation: StockSavvy.ai views this as a neutral filing, primarily reporting changes in beneficial ownership without new strategic or financial information.

Positives

• The filing indicates a significant, albeit adjusted, investment in American States Water Co. by a major financial institution.
• The reporting entities are established investment managers, suggesting a degree of confidence in the underlying asset.

Negatives

• The filing does not provide specific details on the exact nature of the ownership change (increase or decrease).
• The disclaimer of beneficial ownership by certain entities can create ambiguity regarding the ultimate control and intent.

Risks

• The disclaimer of beneficial ownership pursuant to Exchange Act Rule 13d-4 suggests that the reporting entities may not have full control or intent to influence the company, which could be a risk for investors seeking committed institutional support.
• The separation of certain subsidiaries by information barriers could indicate a complex ownership structure that might obscure true influence or decision-making.

Future Outlook

This filing is primarily a reporting of past ownership changes and does not contain forward-looking statements or guidance regarding the company's future performance.

Management Comments

• Each of Neuberger Berman Group LLC, Neuberger Berman Investment Advisers Holdings LLC, Neuberger Trust Holdings LLC, Neuberger Berman Trust Co N.A., Neuberger Berman Asia Ltd., Neuberger Berman Canada ULC, Neuberger Berman Trust Co of Delaware N.A. and Neuberger Berman Investment Advisers LLC and certain affiliated persons disclaim beneficial ownership of the securities covered by this statement pursuant to Exchange Act Rule 13d-4.
• The securities of the issuer, if any, that may be deemed to be beneficially owned by NB Alternatives Advisers LLC and other subsidiaries of Neuberger Berman Group LLC that are separated from the NBG Filers by an information barrier in accordance with SEC Release No. 34-39538 (January 12, 1998) are not reflected in this filing.

Industry Context

StockSavvy.ai notes that Schedule 13G filings are common for institutional investors reporting passive stakes (typically under 5%) in publicly traded companies. This filing indicates Neuberger Berman Group LLC and its affiliate maintain significant, but likely passive, holdings in the utility sector, represented by American States Water Co.

Stakeholder Impact

• Shareholders: May view the adjusted stake by a significant institutional investor as a signal, though the lack of detail on the change's direction (increase/decrease) limits definitive interpretation.
• Creditors: The filing does not directly impact creditors as it pertains to equity ownership, not debt.
• Employees and Customers: No direct impact is indicated by this filing.

Next Steps

• Monitor future Schedule 13G filings from Neuberger Berman Group LLC and its affiliates for any further changes in beneficial ownership.
• Observe American States Water Co.'s performance and strategic announcements for insights into the underlying reasons for institutional investor activity.

Key Dates

Keywords

beneficial ownership, Schedule 13G, American States Water Co, Neuberger Berman Group LLC, Neuberger Berman Investment Advisers LLC, common stock, investment management, SEC filing