Edgestream Partners L.P. Buys Shares of 52,343 California Water Service Group (NYSE:CWT)

Edgestream Partners L.P. purchased a new position in California Water Service Group (NYSE:CWT) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 52,343 shares of the utilities provider’s stock, valued at approximately $2,538,000. Edgestream Partners L.P. owned about 0.09% of California Water Service Group as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC increased its position in California Water Service Group by 109.9% during the 2nd quarter. GAMMA Investing LLC now owns 823 shares of the utilities provider’s stock worth $40,000 after purchasing an additional 431 shares in the last quarter. TFO Wealth Partners LLC grew its holdings in shares of California Water Service Group by 57,000.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,142 shares of the utilities provider’s stock worth $59,000 after buying an additional 1,140 shares in the last quarter. CWM LLC raised its position in shares of California Water Service Group by 90.8% in the second quarter. CWM LLC now owns 1,349 shares of the utilities provider’s stock valued at $65,000 after buying an additional 642 shares during the last quarter. Rothschild Investment LLC purchased a new position in shares of California Water Service Group during the second quarter valued at approximately $127,000. Finally, Boston Family Office LLC purchased a new position in shares of California Water Service Group during the fourth quarter valued at approximately $200,000. 82.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at California Water Service Group

In other California Water Service Group news, Director Thomas M. Krummel sold 1,654 shares of the company’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $50.07, for a total transaction of $82,815.78. Following the completion of the sale, the director now directly owns 24,171 shares in the company, valued at $1,210,241.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Thomas M. Krummel sold 555 shares of California Water Service Group stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $52.91, for a total transaction of $29,365.05. Following the transaction, the director now owns 23,061 shares in the company, valued at approximately $1,220,157.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas M. Krummel sold 1,654 shares of the company’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $50.07, for a total transaction of $82,815.78. Following the sale, the director now directly owns 24,171 shares of the company’s stock, valued at $1,210,241.97. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,874 shares of company stock worth $202,318. 0.73% of the stock is owned by insiders.

California Water Service Group Stock Down 1.1 %

CWT opened at $54.44 on Thursday. The stock has a market capitalization of $3.14 billion, a price-to-earnings ratio of 21.92 and a beta of 0.49. California Water Service Group has a 12 month low of $43.50 and a 12 month high of $56.25. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.52 and a quick ratio of 0.49. The business has a 50-day moving average of $53.51 and a two-hundred day moving average of $49.99.

California Water Service Group (NYSE:CWT) last issued its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.42 by $0.28. The firm had revenue of $244.30 million during the quarter, compared to analyst estimates of $216.25 million. California Water Service Group had a net margin of 17.78% and a return on equity of 11.94%. California Water Service Group’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.17 earnings per share. On average, research analysts expect that California Water Service Group will post 3.33 earnings per share for the current year.

California Water Service Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 12th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend was Monday, August 12th. California Water Service Group’s dividend payout ratio (DPR) is currently 44.80%.

Analyst Ratings Changes

Separately, Wells Fargo & Company raised shares of California Water Service Group from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $50.00 to $57.00 in a research note on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $53.67.

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.