Everence Capital Management Inc. Sells 6,930 Shares of California Water Service Group (NYSE:CWT)

Everence Capital Management Inc. trimmed its position in California Water Service Group (NYSE:CWT) by 47.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,680 shares of the utilities provider’s stock after selling 6,930 shares during the quarter. Everence Capital Management Inc.’s holdings in California Water Service Group were worth $348,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. increased its stake 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 purchasing an additional 363 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of California Water Service Group by 50.2% in the third quarter. GAMMA Investing LLC now owns 1,236 shares of the utilities provider’s stock worth $67,000 after acquiring an additional 413 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of California Water Service Group in the 2nd quarter valued at approximately $85,000. nVerses Capital LLC bought a new stake in shares of California Water Service Group during the 3rd quarter valued at approximately $119,000. Finally, CWM LLC increased its position 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 worth $168,000 after purchasing an additional 1,741 shares in the last quarter. 82.78% of the stock is currently owned by institutional investors and hedge funds.

California Water Service Group Price Performance

CWT stock opened at $43.84 on Tuesday. The company has a market capitalization of $2.61 billion, a P/E ratio of 12.67 and a beta of 0.52. The company has a fifty day moving average price of $49.00 and a 200-day moving average price of $51.36. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.60 and a current ratio of 0.64. California Water Service Group has a 52-week low of $43.50 and a 52-week high of $56.25.

California Water Service Group (NYSE:CWT) last announced its earnings results on Thursday, October 31st. The utilities provider reported $1.03 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.02). The company had revenue of $299.60 million for the quarter, compared to analyst estimates of $289.55 million. California Water Service Group had a return on equity of 13.24% and a net margin of 19.56%. The firm’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 earnings per share. As a group, equities analysts expect that California Water Service Group will post 3.29 EPS for the current year.

California Water Service Group Announces Dividend

The company also recently announced 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 2.55%. The ex-dividend date of this dividend was Tuesday, November 12th. California Water Service Group’s dividend payout ratio is presently 32.37%.

Insiders Place Their Bets

In other news, VP Michael B. Luu sold 985 shares of the stock in a transaction on Friday, November 22nd. The shares were 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 directly owns 20,354 shares in the company, valued at $1,048,231. This represents a 4.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CWT shares. Bank of America started coverage on shares of California Water Service Group in a research report on Wednesday, December 11th. They issued a “buy” rating and a $57.00 target price on the stock. StockNews.com downgraded California Water Service Group from a “hold” rating to a “sell” rating in a report on Friday, December 13th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, California Water Service Group has an average rating of “Hold” and an average price target of $54.50.

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.