Choreo LLC Cuts Stake in California Water Service Group (NYSE:CWT)

Choreo LLC lowered its stake in shares of California Water Service Group (NYSE:CWT) by 17.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,472 shares of the utilities provider’s stock after selling 962 shares during the period. Choreo LLC’s holdings in California Water Service Group were worth $203,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Jennison Associates LLC purchased a new stake in shares of California Water Service Group during the fourth quarter worth about $1,252,000. Kingswood Wealth Advisors LLC purchased a new stake in California Water Service Group during the 4th quarter valued at about $314,000. Exchange Traded Concepts LLC grew its stake in California Water Service Group by 66.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 24,736 shares of the utilities provider’s stock valued at $1,121,000 after acquiring an additional 9,894 shares in the last quarter. SG Americas Securities LLC grew its stake in California Water Service Group by 205.5% during the 4th quarter. SG Americas Securities LLC now owns 31,205 shares of the utilities provider’s stock valued at $1,415,000 after acquiring an additional 20,991 shares in the last quarter. Finally, Ballentine Partners LLC purchased a new stake in California Water Service Group during the 4th quarter valued at about $234,000. Hedge funds and other institutional investors own 82.78% of the company’s stock.

Insider Buying and Selling

In other California Water Service Group news, VP Michael B. Luu sold 985 shares of the business’s 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 completion of the sale, the vice president now directly owns 20,354 shares in the company, valued at $1,048,231. The trade was a 4.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.73% of the stock is currently owned by company insiders.

California Water Service Group Stock Down 1.3 %

Shares of NYSE CWT opened at $44.95 on Friday. 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 52 week low of $41.64 and a 52 week high of $56.25. The firm has a 50-day moving average price of $45.15 and a 200 day moving average price of $50.11. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of 12.99, a price-to-earnings-growth ratio of 0.45 and a beta of 0.52.

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 issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.67%. This is an increase from California Water Service Group’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, February 10th. California Water Service Group’s payout ratio is presently 32.37%.

Analyst Ratings Changes

Several equities analysts have weighed in on CWT shares. StockNews.com upgraded shares of California Water Service Group from a “sell” rating to a “hold” rating in a report on Saturday, February 8th. 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. Finally, Wells Fargo & Company upgraded shares of California Water Service Group from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $56.00 to $52.00 in a report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus 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.