Quadrature Capital Ltd Cuts Position in California Water Service Group (NYSE:CWT)

Quadrature Capital Ltd trimmed its holdings in shares of California Water Service Group (NYSE:CWT) by 16.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,366 shares of the utilities provider’s stock after selling 1,258 shares during the quarter. Quadrature Capital Ltd’s holdings in California Water Service Group were worth $331,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. AdvisorNet Financial Inc increased its position in shares of California Water Service Group by 42.2% during the 4th quarter. AdvisorNet Financial Inc now owns 741 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 220 shares during the last quarter. Maryland State Retirement & Pension System boosted its stake in California Water Service Group by 0.6% in the fourth quarter. Maryland State Retirement & Pension System now owns 69,575 shares of the utilities provider’s stock valued at $3,609,000 after acquiring an additional 442 shares during the last quarter. Daiwa Securities Group Inc. grew its position in shares of California Water Service Group by 11.5% during the 4th quarter. Daiwa Securities Group Inc. now owns 4,662 shares of the utilities provider’s stock valued at $242,000 after acquiring an additional 481 shares during the period. Exchange Traded Concepts LLC increased its stake in shares of California Water Service Group by 2.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 23,992 shares of the utilities provider’s stock worth $1,244,000 after purchasing an additional 493 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its holdings in shares of California Water Service Group by 1.3% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 52,287 shares of the utilities provider’s stock worth $2,474,000 after purchasing an additional 689 shares during the period. 82.78% of the stock is currently owned by institutional investors.

California Water Service Group Price Performance

California Water Service Group stock opened at $48.15 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.56 and a quick ratio of 0.52. California Water Service Group has a one year low of $43.50 and a one year high of $54.85. The firm has a market capitalization of $2.78 billion, a P/E ratio of 19.26 and a beta of 0.48. The business has a fifty day moving average price of $49.36 and a 200-day moving average price of $48.29.

California Water Service Group (NYSE:CWT) last issued its earnings results on Thursday, April 25th. The utilities provider reported $1.21 EPS for the quarter, topping the consensus estimate of $0.21 by $1.00. California Water Service Group had a return on equity of 10.09% and a net margin of 15.42%. The business had revenue of $270.75 million during the quarter, compared to the consensus estimate of $183.85 million. During the same quarter last year, the company earned ($0.40) EPS. The firm’s revenue was up 106.5% compared to the same quarter last year. As a group, equities research analysts forecast that California Water Service Group will post 3.15 EPS for the current year.

California Water Service Group Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Monday, May 6th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend was Friday, May 3rd. California Water Service Group’s dividend payout ratio (DPR) is presently 44.80%.

Analyst Ratings Changes

Several equities analysts have weighed in on CWT shares. UBS Group raised California Water Service Group from a “sell” rating to a “neutral” rating and set a $49.00 price objective for the company in a report on Thursday, April 4th. Robert W. Baird lifted their price objective on California Water Service Group from $52.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Finally, StockNews.com raised shares of California Water Service Group from a “sell” rating to a “hold” rating in a report on Friday, April 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $54.25.

Insider Buying and Selling

In other California Water Service Group news, Director Thomas M. Krummel sold 555 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $53.26, for a total value of $29,559.30. Following the completion of the transaction, the director now directly owns 23,318 shares of the company’s stock, valued at approximately $1,241,916.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Thomas M. Krummel sold 2,220 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $50.00, for a total transaction of $111,000.00. Following the completion of the transaction, the director now directly owns 23,873 shares in the company, valued at $1,193,650. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Thomas M. Krummel sold 555 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $53.26, for a total value of $29,559.30. Following the completion of the sale, the director now directly owns 23,318 shares in the company, valued at approximately $1,241,916.68. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by insiders.

California Water Service Group Profile

California Water Service Group, through its subsidiaries, provides water utility and other related services in California, Washington, New Mexico, Hawaii, and Texas. The company 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 services.