State of Alaska Department of Revenue Has $1.53 Million Stake in California Water Service Group (NYSE:CWT)

State of Alaska Department of Revenue raised its position in shares of California Water Service Group (NYSE:CWT) by 0.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,800 shares of the utilities provider’s stock after purchasing an additional 231 shares during the period. State of Alaska Department of Revenue owned approximately 0.06% of California Water Service Group worth $1,532,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CWT. Creative Financial Designs Inc. ADV grew its stake in shares of California Water Service Group by 2.7% during the third quarter. Creative Financial Designs Inc. ADV now owns 12,041 shares of the utilities provider’s stock worth $653,000 after buying an additional 316 shares during the last quarter. Blue Trust Inc. grew its holdings in California Water Service Group by 255.6% during the 3rd quarter. Blue Trust Inc. now owns 505 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 363 shares during the period. Glenmede Trust Co. NA boosted its position in shares of California Water Service Group by 8.4% during the 3rd quarter. Glenmede Trust Co. NA now owns 5,026 shares of the utilities provider’s stock worth $273,000 after purchasing an additional 390 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of California Water Service Group by 0.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 64,767 shares of the utilities provider’s stock worth $3,512,000 after purchasing an additional 407 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in 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. 82.78% of the stock is currently owned by institutional investors and hedge funds.

California Water Service Group Stock Down 0.8 %

Shares of NYSE:CWT opened at $45.33 on Thursday. California Water Service Group has a 52-week low of $41.64 and a 52-week high of $56.25. The firm has a fifty day moving average of $45.29 and a 200 day moving average of $50.22. The firm has a market capitalization of $2.70 billion, a PE ratio of 13.10, a price-to-earnings-growth ratio of 0.45 and a beta of 0.52. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.60 and a current ratio of 0.64.

California Water Service Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Monday, February 10th will be given a $0.30 dividend. The ex-dividend date of this dividend is Monday, February 10th. This is a positive change from California Water Service Group’s previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a yield of 2.65%. California Water Service Group’s payout ratio is 32.37%.

Insider Buying and Selling

In other California Water Service Group news, VP Michael B. Luu sold 985 shares of the company’s 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 directly owns 20,354 shares in the company, valued at $1,048,231. This represents a 4.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.73% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CWT. Bank of America initiated coverage on shares of California Water Service Group in a research report on Wednesday, December 11th. They issued a “buy” rating and a $57.00 price target on the stock. Wells Fargo & Company upgraded shares of California Water Service Group from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $56.00 to $52.00 in a research note on Tuesday, January 7th. Finally, StockNews.com raised shares of California Water Service Group from a “sell” rating to a “hold” rating in a report on Saturday, February 8th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $53.25.

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.