Y Intercept Hong Kong Ltd Reduces Stock Position in California Water Service Group (NYSE:CWT)

Y Intercept Hong Kong Ltd cut its stake in California Water Service Group (NYSE:CWT) by 35.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,403 shares of the utilities provider’s stock after selling 2,400 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in California Water Service Group were worth $239,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Arizona State Retirement System raised its position in shares of California Water Service Group by 1.8% in the second quarter. Arizona State Retirement System now owns 16,147 shares of the utilities provider’s stock worth $783,000 after buying an additional 287 shares in the last quarter. Creative Financial Designs Inc. ADV increased its stake in California Water Service Group by 2.7% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 12,041 shares of the utilities provider’s stock worth $653,000 after acquiring an additional 316 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of 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 in the last quarter. Glenmede Trust Co. NA boosted its position in shares of California Water Service Group by 8.4% during the 3rd quarter. Glenmede Trust Co. NA now owns 5,026 shares of the utilities provider’s stock valued at $273,000 after acquiring an additional 390 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of California Water Service Group by 0.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 64,767 shares of the utilities provider’s stock worth $3,512,000 after purchasing an additional 407 shares in the last quarter. Hedge funds and other institutional investors own 82.78% of the company’s stock.

California Water Service Group Stock Performance

Shares of NYSE:CWT opened at $46.09 on Thursday. California Water Service Group has a 12 month low of $43.50 and a 12 month high of $56.25. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 0.64. The company has a 50-day moving average price of $50.95 and a 200-day moving average price of $51.60. The company has a market cap of $2.74 billion, a price-to-earnings ratio of 13.32 and a beta of 0.50.

California Water Service Group (NYSE:CWT) last announced its quarterly earnings data on Thursday, October 31st. The utilities provider reported $1.03 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $299.60 million for the quarter, compared to analysts’ expectations of $289.55 million. During the same period in the prior year, the business posted $0.60 EPS. The business’s quarterly revenue was up 17.5% compared to the same quarter last year. As a group, equities analysts anticipate that California Water Service Group will post 3.29 EPS for the current year.

California Water Service Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Tuesday, November 12th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend was Tuesday, November 12th. California Water Service Group’s payout ratio is 32.37%.

Analysts Set New Price Targets

CWT has been the topic of a number of research analyst reports. StockNews.com lowered shares of California Water Service Group from a “hold” rating to a “sell” rating in a report on Friday, December 13th. Bank of America began 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 price objective for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $54.50.

Insider Buying and Selling at California Water Service Group

In other California Water Service Group news, VP Michael B. Luu sold 985 shares of the 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 transaction, the vice president now owns 20,354 shares of the company’s stock, valued at approximately $1,048,231. This represents a 4.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.73% of the stock is owned by company insiders.

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.