Wulff Hansen & CO. Has $1.05 Million Position in California Water Service Group (NYSE:CWT)

Wulff Hansen & CO. decreased its stake in California Water Service Group (NYSE:CWT) by 3.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,730 shares of the utilities provider’s stock after selling 855 shares during the period. Wulff Hansen & CO.’s holdings in California Water Service Group were worth $1,054,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in CWT. 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 valued at $40,000 after purchasing an additional 431 shares during the period. TFO Wealth Partners LLC increased its position 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 during the period. CWM LLC raised its stake in California Water Service Group by 90.8% during the second quarter. CWM LLC now owns 1,349 shares of the utilities provider’s stock worth $65,000 after buying an additional 642 shares during the last quarter. Rothschild Investment LLC acquired a new position in California Water Service Group in the second quarter valued at $127,000. Finally, Boston Family Office LLC acquired a new stake in California Water Service Group during the 4th quarter worth about $200,000. 82.78% of the stock is currently owned by institutional investors.

Insider Buying and Selling at California Water Service Group

In other news, Director Thomas M. Krummel sold 555 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $52.99, for a total transaction of $29,409.45. Following the completion of the sale, the director now directly owns 23,616 shares of the company’s stock, valued at $1,251,411.84. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Thomas M. Krummel sold 555 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $52.99, for a total transaction of $29,409.45. Following the completion of the sale, the director now owns 23,616 shares in the company, valued at $1,251,411.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas M. Krummel sold 1,654 shares of the firm’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $50.07, for a total value of $82,815.78. Following the transaction, the director now owns 24,171 shares in the company, valued at $1,210,241.97. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,874 shares of company stock worth $202,318. 0.73% of the stock is owned by corporate insiders.

California Water Service Group Trading Down 0.3 %

NYSE:CWT opened at $53.85 on Tuesday. The firm has a fifty day simple moving average of $53.76 and a two-hundred day simple moving average of $50.23. California Water Service Group has a 12 month low of $43.50 and a 12 month high of $56.25. The stock has a market capitalization of $3.11 billion, a price-to-earnings ratio of 21.54 and a beta of 0.49. The company has a current ratio of 0.52, a quick ratio of 0.49 and a debt-to-equity ratio of 0.68.

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

California Water Service Group Announces Dividend

The firm also recently declared 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 yield of 2.08%. The ex-dividend date of this dividend was Monday, August 12th. California Water Service Group’s payout ratio is currently 44.80%.

Analyst Upgrades and Downgrades

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