California Water Service Group (NYSE:CWT) Shares Acquired by Algert Global LLC

Algert Global LLC raised its stake in shares of California Water Service Group (NYSE:CWT) by 296.9% in the third quarter, Holdings Channel.com reports. The fund owned 23,061 shares of the utilities provider’s stock after purchasing an additional 17,250 shares during the period. Algert Global LLC’s holdings in California Water Service Group were worth $1,250,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CWT. Blue Trust Inc. increased its position in shares of California Water Service Group by 255.6% during the third 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 last quarter. GAMMA Investing LLC grew its holdings in shares of California Water Service Group by 109.9% in the second quarter. GAMMA Investing LLC now owns 823 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 431 shares in the last quarter. CWM LLC grew its holdings in shares of California Water Service Group by 90.8% in the second quarter. CWM LLC now owns 1,349 shares of the utilities provider’s stock valued at $65,000 after purchasing an additional 642 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of California Water Service Group in the second quarter valued at approximately $85,000. Finally, nVerses Capital LLC acquired a new position in shares of California Water Service Group in the third quarter valued at approximately $119,000. 82.78% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of California Water Service Group from a “hold” rating to a “sell” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $53.67.

California Water Service Group Trading Up 0.5 %

Shares of CWT stock opened at $51.19 on Friday. California Water Service Group has a fifty-two week low of $43.50 and a fifty-two week high of $56.25. The company has a 50 day moving average price of $52.21 and a 200 day moving average price of $51.85. 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 $3.04 billion, a P/E ratio of 14.79 and a beta of 0.49.

California Water Service Group (NYSE:CWT) last issued its quarterly earnings results on Thursday, October 31st. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $299.60 million during the quarter, compared to analysts’ expectations of $289.55 million. During the same quarter in the prior year, the firm earned $0.60 EPS. The firm’s revenue was up 17.5% compared to the same quarter last year. Equities research analysts predict that California Water Service Group will post 3.29 EPS for the current fiscal year.

California Water Service Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Tuesday, November 12th were paid a $0.28 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $1.12 dividend on an annualized basis and a yield of 2.19%. California Water Service Group’s dividend payout ratio is currently 32.37%.

Insider Buying and Selling

In related news, VP Michael B. Luu sold 985 shares of California Water Service Group stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $51.50, for a total value of $50,727.50. Following the completion of the transaction, the vice president now owns 20,354 shares in the company, valued at $1,048,231. The trade was a 4.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas M. Krummel sold 555 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $55.09, for a total transaction of $30,574.95. Following the sale, the director now owns 21,951 shares of the company’s stock, valued at $1,209,280.59. This represents a 2.47 % decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is owned by 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.