A number of other large investors have also modified their holdings of CWT. Wells Fargo & Company MN grew its stake in California Water Service Group by 3.1% in the 3rd quarter. Wells Fargo & Company MN now owns 121,413 shares of the utilities provider’s stock valued at $5,208,000 after buying an additional 3,595 shares during the last quarter. FMR LLC acquired a new position in California Water Service Group in the 3rd quarter valued at about $110,000. Vanguard Group Inc. grew its stake in California Water Service Group by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 5,337,436 shares of the utilities provider’s stock valued at $228,976,000 after buying an additional 118,398 shares during the last quarter. Legal & General Group Plc grew its stake in California Water Service Group by 3.2% in the 3rd quarter. Legal & General Group Plc now owns 298,133 shares of the utilities provider’s stock valued at $12,745,000 after buying an additional 9,108 shares during the last quarter. Finally, Arjuna Capital grew its stake in California Water Service Group by 5.2% in the 4th quarter. Arjuna Capital now owns 5,217 shares of the utilities provider’s stock valued at $249,000 after buying an additional 260 shares during the last quarter. 73.15% of the stock is currently owned by hedge funds and other institutional investors.
Advisor Group Inc. grew its holdings in shares of California Water Service Group (NYSE:CWT) by 11.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,098 shares of the utilities provider’s stock after buying an additional 2,780 shares during the quarter. Advisor Group Inc.’s holdings in California Water Service Group were worth $1,246,000 at the end of the most recent reporting period.
In other news, Director Lester A. Snow sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $53.69, for a total transaction of $53,690.00. Following the completion of the sale, the director now owns 18,195 shares of the company’s stock, valued at approximately $976,889.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.00% of the company’s stock.
Shares of NYSE:CWT opened at $54.13 on Thursday. California Water Service Group has a 12-month low of $35.60 and a 12-month high of $54.25. The company has a market cap of $2.59 billion, a price-to-earnings ratio of 39.80, a price-to-earnings-growth ratio of 5.50 and a beta of 0.40. The company has a current ratio of 0.59, a quick ratio of 0.57 and a debt-to-equity ratio of 0.97.
California Water Service Group (NYSE:CWT) last announced its earnings results on Thursday, February 28th. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.04. California Water Service Group had a net margin of 8.71% and a return on equity of 8.58%. The firm had revenue of $167.42 million for the quarter, compared to analyst estimates of $163.45 million. During the same quarter in the prior year, the business posted $0.31 EPS. The business’s revenue was up 1.9% compared to the same quarter last year. Equities analysts expect that California Water Service Group will post 1.4 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, February 22nd. Stockholders of record on Monday, February 11th were issued a dividend of $0.1975 per share. This represents a $0.79 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Friday, February 8th. This is an increase from California Water Service Group’s previous quarterly dividend of $0.19. California Water Service Group’s dividend payout ratio is 58.09%.
A number of research analysts have issued reports on CWT shares. Robert W. Baird upgraded shares of California Water Service Group from a “neutral” rating to an “outperform” rating and set a $50.00 target price on the stock in a research report on Thursday, December 6th. Zacks Investment Research upgraded shares of California Water Service Group from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research report on Thursday, January 3rd. ValuEngine upgraded shares of California Water Service Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 12th. Finally, Wells Fargo & Co increased their target price on shares of California Water Service Group from $45.00 to $49.00 and gave the stock a “market perform” rating in a research report on Monday, March 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $45.20.
About California Water Service Group
California Water Service Group, through its subsidiaries, provides water utility and other related services in California, Washington, New Mexico, and Hawaii. It is involved in the production, purchase, storage, treatment, testing, distribution, and sale of water for domestic, industrial, public, and irrigation uses, as well as for fire protection.
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