California Water Service Group (NYSE:CWT) Shares Acquired by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lifted its position in shares of California Water Service Group (NYSE:CWT) by 4.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,826 shares of the utilities provider’s stock after purchasing an additional 585 shares during the period. Nisa Investment Advisors LLC’s holdings in California Water Service Group were worth $750,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its position in shares of California Water Service Group by 12.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,992 shares of the utilities provider’s stock worth $325,000 after purchasing an additional 686 shares in the last quarter. Assenagon Asset Management S.A. increased its position in California Water Service Group by 79.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 252,833 shares of the utilities provider’s stock valued at $13,709,000 after acquiring an additional 112,118 shares during the period. International Assets Investment Management LLC acquired a new position in California Water Service Group in the 3rd quarter valued at about $7,700,000. Allspring Global Investments Holdings LLC increased its position in California Water Service Group by 95.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 49,861 shares of the utilities provider’s stock valued at $2,703,000 after acquiring an additional 24,402 shares during the period. Finally, 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 valued at $27,000 after acquiring an additional 363 shares during the period. Institutional investors and hedge funds own 82.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company upgraded California Water Service Group from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $50.00 to $57.00 in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $53.67.

California Water Service Group Price Performance

Shares of CWT opened at $49.73 on Tuesday. California Water Service Group has a twelve month low of $43.50 and a twelve month high of $56.25. The stock’s 50 day moving average is $53.45 and its two-hundred day moving average is $51.59. The firm has a market capitalization of $2.93 billion, a PE ratio of 14.37 and a beta of 0.49. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.64.

California Water Service Group (NYSE:CWT) last announced its quarterly earnings data on Thursday, October 31st. The utilities provider reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.02). California Water Service Group had a net margin of 19.56% and a return on equity of 13.24%. The business had revenue of $299.60 million during the quarter, compared to analysts’ expectations of $289.55 million. During the same period in the prior year, the firm posted $0.60 EPS. California Water Service Group’s revenue for the quarter was up 17.5% compared to the same quarter last year. Research analysts anticipate that California Water Service Group will post 3.33 earnings per share for the current year.

California Water Service Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Tuesday, November 12th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Tuesday, November 12th. California Water Service Group’s dividend payout ratio is presently 32.37%.

Insider Buying and Selling at California Water Service Group

In other California Water Service Group news, Director Thomas M. Krummel sold 555 shares of California Water Service Group stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $54.33, for a total value of $30,153.15. Following the sale, the director now owns 22,506 shares of the company’s stock, valued at approximately $1,222,750.98. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders have sold 1,665 shares of company stock valued at $90,093. 0.73% of the stock is 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.