California Water Service Group (NYSE:CWT) Shares Purchased by Fmr LLC

Fmr LLC increased its position in shares of California Water Service Group (NYSE:CWT) by 70.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 63,625 shares of the utilities provider’s stock after purchasing an additional 26,299 shares during the quarter. Fmr LLC owned 0.11% of California Water Service Group worth $3,450,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. lifted its holdings in California Water Service Group by 255.6% in the third quarter. Blue Trust Inc. now owns 505 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 363 shares during the period. GAMMA Investing LLC lifted its holdings in California Water Service Group by 50.2% in the third quarter. GAMMA Investing LLC now owns 1,236 shares of the utilities provider’s stock valued at $67,000 after acquiring an additional 413 shares during the period. CWM LLC lifted its holdings in 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 acquiring an additional 642 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in California Water Service Group in the second quarter valued at approximately $85,000. Finally, nVerses Capital LLC acquired a new position in California Water Service Group in the third quarter valued at approximately $119,000. Institutional investors and hedge funds own 82.78% of the company’s stock.

California Water Service Group Price Performance

CWT opened at $48.51 on Friday. The stock’s 50-day moving average price is $51.21 and its 200 day moving average price is $51.61. California Water Service Group has a 12-month low of $43.50 and a 12-month high of $56.25. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 0.64. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of 14.02 and a beta of 0.50.

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 the consensus estimate 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 company had revenue of $299.60 million for the quarter, compared to analysts’ expectations of $289.55 million. During the same quarter last year, the company earned $0.60 EPS. California Water Service Group’s revenue for the quarter was up 17.5% compared to the same quarter last year. As a group, sell-side analysts expect that California Water Service Group will post 3.29 earnings per share for the current year.

California Water Service Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Tuesday, November 12th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend was Tuesday, November 12th. California Water Service Group’s payout ratio is currently 32.37%.

Insider Transactions at California Water Service Group

In related news, VP Michael B. Luu sold 985 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $51.50, for a total value of $50,727.50. Following the completion of the sale, the vice president now owns 20,354 shares in the company, valued at $1,048,231. This trade represents a 4.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.73% of the company’s stock.

Wall Street Analyst Weigh In

CWT has been the subject of a number of analyst reports. StockNews.com downgraded California Water Service Group from a “hold” rating to a “sell” rating in a report on Friday. Bank of America started coverage on California Water Service Group in a research report on Wednesday. They issued a “buy” rating and a $57.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $54.50.

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.