Citigroup Inc. Purchases 31,831 Shares of California Water Service Group (NYSE:CWT)

Citigroup Inc. grew its position in California Water Service Group (NYSE:CWT) by 78.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 72,207 shares of the utilities provider’s stock after acquiring an additional 31,831 shares during the period. Citigroup Inc. owned 0.12% of California Water Service Group worth $3,915,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of CWT. Price T Rowe Associates Inc. MD lifted its stake in shares of California Water Service Group by 1.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,049 shares of the utilities provider’s stock valued at $3,954,000 after acquiring an additional 1,495 shares during the last quarter. Tidal Investments LLC bought a new position in shares of California Water Service Group in the 1st quarter valued at $535,000. Cetera Advisors LLC bought a new position in shares of California Water Service Group in the 1st quarter valued at $272,000. GAMMA Investing LLC raised 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 during the last quarter. Finally, Kingswood Wealth Advisors LLC raised its position in California Water Service Group by 16.9% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 6,925 shares of the utilities provider’s stock worth $336,000 after purchasing an additional 1,000 shares during the last quarter. 82.78% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other California Water Service Group news, VP Michael B. Luu sold 985 shares of California Water Service Group stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $51.50, for a total transaction of $50,727.50. Following the transaction, the vice president now owns 20,354 shares of the company’s stock, valued at $1,048,231. This trade represents a 4.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.73% of the company’s stock.

California Water Service Group Stock Down 1.7 %

Shares of NYSE:CWT opened at $49.67 on Wednesday. The firm has a market cap of $2.95 billion, a P/E ratio of 14.36 and a beta of 0.50. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 0.64. California Water Service Group has a 12-month low of $43.50 and a 12-month high of $56.25. The business has a fifty day simple moving average of $52.03 and a 200 day simple moving average of $51.80.

California Water Service Group (NYSE:CWT) last issued its quarterly earnings results on Thursday, October 31st. The utilities provider reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.02). California Water Service Group had a return on equity of 13.24% and a net margin of 19.56%. The business had revenue of $299.60 million for the quarter, compared to analyst estimates of $289.55 million. During the same quarter in the previous year, the business posted $0.60 earnings per share. The business’s revenue was up 17.5% on a year-over-year basis. Analysts predict that California Water Service Group will post 3.29 earnings per share for the current year.

California Water Service Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Tuesday, November 12th were issued a dividend of $0.28 per share. The ex-dividend date was Tuesday, November 12th. This represents a $1.12 dividend on an annualized basis and a yield of 2.25%. California Water Service Group’s payout ratio is currently 32.37%.

Analyst Ratings Changes

Separately, StockNews.com lowered California Water Service Group from a “hold” rating to a “sell” rating in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $53.67.

California Water Service Group Company 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.