State of New Jersey Common Pension Fund D Has $1.85 Million Position in California Water Service Group (NYSE:CWT)

State of New Jersey Common Pension Fund D grew its holdings in California Water Service Group (NYSE:CWT) by 10.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 40,776 shares of the utilities provider’s stock after purchasing an additional 3,920 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.07% of California Water Service Group worth $1,848,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Blue Trust Inc. increased its holdings 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 valued at $27,000 after buying an additional 363 shares during the period. Old Port Advisors bought a new stake in California Water Service Group during the 3rd quarter worth about $202,000. Boston Family Office LLC acquired a new stake in California Water Service Group during the 3rd quarter worth $210,000. CIBC Asset Management Inc acquired a new position in California Water Service Group in the third quarter valued at about $219,000. Finally, Aigen Investment Management LP acquired a new position in California Water Service Group during the third quarter valued at approximately $227,000. 82.78% of the stock is owned by institutional investors.

California Water Service Group Stock Up 2.0 %

Shares of NYSE CWT opened at $47.03 on Wednesday. The stock’s fifty day moving average is $44.78 and its 200 day moving average is $49.71. California Water Service Group has a 52 week low of $41.64 and a 52 week high of $56.25. 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 stock has a market capitalization of $2.80 billion, a P/E ratio of 13.59, a PEG ratio of 0.46 and a beta of 0.52.

California Water Service Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Monday, February 10th were paid a $0.30 dividend. This is a positive change from California Water Service Group’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.20 annualized dividend and a dividend yield of 2.55%. California Water Service Group’s dividend payout ratio (DPR) is presently 34.68%.

Analysts Set New Price Targets

CWT has been the subject of several research analyst reports. Wells Fargo & Company upgraded California Water Service Group from an “equal weight” rating to an “overweight” rating and decreased their price objective for the company from $56.00 to $52.00 in a research report on Tuesday, January 7th. StockNews.com raised California Water Service Group from a “sell” rating to a “hold” rating in a research report on Saturday, February 8th. Finally, Bank of America assumed coverage on shares of California Water Service Group in a report on Wednesday, December 11th. They issued a “buy” rating and a $57.00 price target on the stock. 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 presently has an average rating of “Moderate Buy” and a consensus price target 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.