GAMMA Investing LLC Reduces Stake in California Water Service Group (NYSE:CWT)

GAMMA Investing LLC reduced its position in California Water Service Group (NYSE:CWT) by 20.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 982 shares of the utilities provider’s stock after selling 254 shares during the period. GAMMA Investing LLC’s holdings in California Water Service Group were worth $45,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CWT. Blue Trust Inc. increased its stake 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 purchasing an additional 363 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in California Water Service Group during the 2nd quarter valued at $85,000. nVerses Capital LLC acquired a new stake in California Water Service Group during the 3rd quarter valued at $119,000. CWM LLC grew its holdings in California Water Service Group by 129.1% during the 3rd 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. Finally, Old Port Advisors acquired a new stake in California Water Service Group during the 3rd quarter valued at $202,000. 82.78% of the stock is owned by hedge funds and other institutional investors.

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 business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $51.50, for a total transaction of $50,727.50. Following the completion of the sale, the vice president now owns 20,354 shares of the company’s stock, valued at approximately $1,048,231. The trade was a 4.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.73% of the stock is owned by company insiders.

California Water Service Group Price Performance

CWT stock opened at $42.21 on Tuesday. California Water Service Group has a 52-week low of $41.64 and a 52-week high of $56.25. The stock’s fifty day simple moving average is $48.21 and its 200-day simple moving average is $51.17. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of 12.20, a price-to-earnings-growth ratio of 0.36 and a beta of 0.50.

California Water Service Group (NYSE:CWT) last posted its quarterly earnings data on Thursday, October 31st. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.02). California Water Service Group had a return on equity of 13.24% and a net margin of 19.56%. The business had revenue of $299.60 million for the quarter, compared to analyst estimates of $289.55 million. During the same quarter last year, the business earned $0.60 EPS. California Water Service Group’s revenue for the quarter was up 17.5% compared to the same quarter last year. Equities research analysts expect that California Water Service Group will post 3.16 EPS for the current year.

California Water Service Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Tuesday, November 12th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date was Tuesday, November 12th. California Water Service Group’s dividend payout ratio (DPR) is presently 32.37%.

Analyst Ratings Changes

CWT has been the topic of a number of analyst reports. Wells Fargo & Company upgraded California Water Service Group from an “equal weight” rating to an “overweight” rating and lowered their target price for the company from $56.00 to $52.00 in a report on Tuesday, January 7th. StockNews.com upgraded California Water Service Group from a “sell” rating to a “hold” rating in a report on Wednesday, January 8th. Finally, Bank of America initiated coverage on California Water Service Group in a report on Wednesday, December 11th. They set a “buy” rating and a $57.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. 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 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.