Point72 Asia Singapore Pte. Ltd. Makes New $85,000 Investment in California Water Service Group (NYSE:CWT)

Point72 Asia Singapore Pte. Ltd. bought a new position in shares of California Water Service Group (NYSE:CWT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,745 shares of the utilities provider’s stock, valued at approximately $85,000.

A number of other hedge funds have also recently modified their holdings of CWT. TFO Wealth Partners LLC increased its stake in shares of California Water Service Group by 57,000.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,142 shares of the utilities provider’s stock valued at $59,000 after purchasing an additional 1,140 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of California Water Service Group by 3,683.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 30,154 shares of the utilities provider’s stock valued at $1,564,000 after buying an additional 29,357 shares in the last quarter. CenterBook Partners LP raised its stake in shares of California Water Service Group by 32.4% during the 4th quarter. CenterBook Partners LP now owns 14,544 shares of the utilities provider’s stock worth $754,000 after buying an additional 3,555 shares during the period. Cullen Capital Management LLC lifted its position in shares of California Water Service Group by 33.2% during the 4th quarter. Cullen Capital Management LLC now owns 7,005 shares of the utilities provider’s stock valued at $363,000 after buying an additional 1,745 shares in the last quarter. Finally, Abacus Wealth Partners LLC acquired a new stake in California Water Service Group in the 1st quarter valued at $203,000. Hedge funds and other institutional investors own 82.78% of the company’s stock.

Insider Activity at California Water Service Group

In related news, Director Thomas M. Krummel sold 555 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $52.99, for a total value of $29,409.45. Following the completion of the sale, the director now directly owns 23,616 shares of the company’s stock, valued at $1,251,411.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Thomas M. Krummel sold 1,654 shares of the business’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $50.07, for a total value of $82,815.78. Following the transaction, the director now owns 24,171 shares in the company, valued at $1,210,241.97. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Thomas M. Krummel sold 555 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $52.99, for a total value of $29,409.45. Following the sale, the director now directly owns 23,616 shares of the company’s stock, valued at $1,251,411.84. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,874 shares of company stock valued at $202,318 over the last ninety days. Insiders own 0.73% of the company’s stock.

California Water Service Group Trading Up 0.3 %

CWT opened at $53.10 on Friday. The business has a fifty day simple moving average of $53.93 and a 200-day simple moving average of $50.54. California Water Service Group has a 52 week low of $43.50 and a 52 week high of $56.25. The company has a quick ratio of 0.49, a current ratio of 0.52 and a debt-to-equity ratio of 0.68. The firm has a market cap of $3.07 billion, a P/E ratio of 21.24 and a beta of 0.49.

California Water Service Group (NYSE:CWT) last issued its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.28. The company had revenue of $244.30 million for the quarter, compared to the consensus estimate of $216.25 million. California Water Service Group had a return on equity of 11.94% and a net margin of 17.78%. California Water Service Group’s revenue was up 25.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.17 EPS. On average, equities analysts expect that California Water Service Group will post 3.33 earnings per share for the current year.

California Water Service Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 12th were paid a $0.28 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.12 annualized dividend and a yield of 2.11%. California Water Service Group’s dividend payout ratio is currently 44.80%.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company raised shares of California Water Service Group from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $50.00 to $57.00 in a research note 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $53.67.

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.