Vontobel Holding Ltd. Buys 27,058 Shares of California Water Service Group (NYSE:CWT)

Vontobel Holding Ltd. lifted its stake in California Water Service Group (NYSE:CWT) by 134.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 47,155 shares of the utilities provider’s stock after acquiring an additional 27,058 shares during the period. Vontobel Holding Ltd. owned 0.08% of California Water Service Group worth $2,138,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in CWT. Blue Trust Inc. increased its position in California Water Service Group by 255.6% in the 3rd quarter. Blue Trust Inc. now owns 505 shares of the utilities provider’s stock worth $27,000 after buying an additional 363 shares during the period. nVerses Capital LLC bought a new position in California Water Service Group in the 3rd quarter worth approximately $119,000. CWM LLC increased its position in California Water Service Group by 129.1% in the 3rd quarter. CWM LLC now owns 3,090 shares of the utilities provider’s stock worth $168,000 after buying an additional 1,741 shares during the period. Old Port Advisors bought a new position in California Water Service Group in the 3rd quarter worth approximately $202,000. Finally, Boston Family Office LLC bought a new position in California Water Service Group in the 3rd quarter worth approximately $210,000. 82.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on CWT. StockNews.com upgraded California Water Service Group from a “sell” rating to a “hold” rating in a research report on Saturday, February 8th. Bank of America began coverage on California Water Service Group in a research report on Wednesday, December 11th. They set a “buy” rating and a $57.00 price objective on the stock. Finally, Wells Fargo & Company upgraded California Water Service Group from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $56.00 to $52.00 in a research report on Tuesday, January 7th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.25.

California Water Service Group Price Performance

California Water Service Group stock opened at $44.95 on Tuesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.60 and a current ratio of 0.64. The firm has a market cap of $2.67 billion, a P/E ratio of 12.99, a P/E/G ratio of 0.45 and a beta of 0.52. The business’s fifty day moving average is $45.08 and its two-hundred day moving average is $50.03. 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 company also recently announced 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. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.67%. This is an increase from California Water Service Group’s previous quarterly dividend of $0.28. California Water Service Group’s payout ratio is presently 32.37%.

Insider Transactions at California Water Service Group

In related news, VP Michael B. Luu sold 985 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was 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 approximately $1,048,231. This represents a 4.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.73% of the stock is currently owned by corporate insiders.

About California Water Service Group

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.