Stifel Financial Corp Has $769,000 Holdings in California Water Service Group (NYSE:CWT)

Stifel Financial Corp trimmed its position in shares of California Water Service Group (NYSE:CWT) by 11.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,178 shares of the utilities provider’s stock after selling 1,787 shares during the quarter. Stifel Financial Corp’s holdings in California Water Service Group were worth $769,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Blue Trust Inc. raised its holdings in California Water Service Group by 255.6% during the third quarter. Blue Trust Inc. now owns 505 shares of the utilities provider’s stock valued at $27,000 after buying an additional 363 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of California Water Service Group by 50.2% in the 3rd 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in California Water Service Group in the 2nd quarter worth approximately $85,000. nVerses Capital LLC acquired a new stake in California Water Service Group in the 3rd quarter worth approximately $119,000. Finally, Rothschild Investment LLC bought a new stake in California Water Service Group during the second quarter worth approximately $127,000. Institutional investors own 82.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CWT shares. StockNews.com lowered shares of California Water Service Group from a “hold” rating to a “sell” rating in a research report on Friday, December 13th. Bank of America started coverage on shares of California Water Service Group in a report on Wednesday, December 11th. They issued a “buy” rating and a $57.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $54.50.

Insiders Place Their Bets

In related news, VP Michael B. Luu sold 985 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $51.50, for a total transaction 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 position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.73% of the company’s stock.

California Water Service Group Stock Performance

NYSE CWT opened at $45.62 on Wednesday. The company’s fifty day moving average is $50.39 and its two-hundred day moving average is $51.52. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of 13.18 and a beta of 0.50. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.64 and a quick ratio of 0.60. California Water Service Group has a 52-week low of $43.50 and a 52-week high of $56.25.

California Water Service Group (NYSE:CWT) last posted 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 prior year, the firm earned $0.60 EPS. The firm’s quarterly revenue was up 17.5% on a year-over-year basis. Equities research analysts forecast that California Water Service Group will post 3.29 EPS 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 paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date was Tuesday, November 12th. California Water Service Group’s dividend payout ratio is 32.37%.

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.