Louisiana State Employees Retirement System Raises Position in California Water Service Group (NYSE:CWT)

Louisiana State Employees Retirement System grew its position in California Water Service Group (NYSE:CWT) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,800 shares of the utilities provider’s stock after acquiring an additional 400 shares during the period. Louisiana State Employees Retirement System’s holdings in California Water Service Group were worth $1,306,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted 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 worth $27,000 after buying an additional 363 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of California Water Service Group in the third quarter valued at approximately $119,000. CWM LLC raised its position in shares of California Water Service Group by 129.1% in the third quarter. CWM LLC now owns 3,090 shares of the utilities provider’s stock valued at $168,000 after buying an additional 1,741 shares during the last quarter. Old Port Advisors acquired a new position in California Water Service Group during the third quarter worth approximately $202,000. Finally, Boston Family Office LLC acquired a new position in California Water Service Group during the third quarter worth approximately $210,000. Hedge funds and other institutional investors own 82.78% of the company’s stock.

Insider Activity

In other California Water Service Group 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 transaction, the vice president now directly 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 filing with the SEC, which is available through this link. Insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. StockNews.com raised shares of California Water Service Group from a “sell” rating to a “hold” rating in a research report on Saturday, February 8th. Bank of America initiated coverage on shares of California Water Service Group in a research note on Wednesday, December 11th. They issued a “buy” rating and a $57.00 target price for the company. 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 research note on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, California Water Service Group has an average rating of “Moderate Buy” and an average target price of $53.25.

California Water Service Group Stock Performance

Shares of CWT opened at $44.95 on Monday. The firm has a 50-day moving average price of $45.15 and a 200 day moving average price of $50.09. The firm has a market capitalization of $2.67 billion, a PE ratio of 12.99, a P/E/G ratio of 0.45 and a beta of 0.52. 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.

California Water Service Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Monday, February 10th will be given a dividend of $0.30 per share. This is a positive change from California Water Service Group’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, February 10th. This represents a $1.20 annualized dividend and a dividend yield of 2.67%. California Water Service Group’s dividend payout ratio (DPR) 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.