Ontario Teachers Pension Plan Board Grows Holdings in California Water Service Group (CWT)

Ontario Teachers Pension Plan Board grew its holdings in California Water Service Group (NYSE:CWT) by 42.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,066 shares of the utilities provider’s stock after purchasing an additional 8,978 shares during the quarter. Ontario Teachers Pension Plan Board owned about 0.06% of California Water Service Group worth $1,290,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CWT. BlackRock Inc. raised its position in shares of California Water Service Group by 2.7% during the 3rd quarter. BlackRock Inc. now owns 7,315,768 shares of the utilities provider’s stock valued at $313,849,000 after buying an additional 194,252 shares during the period. Bank of New York Mellon Corp raised its position in shares of California Water Service Group by 3.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 702,362 shares of the utilities provider’s stock valued at $30,132,000 after buying an additional 23,715 shares during the period. KBC Group NV raised its position in shares of California Water Service Group by 33.4% during the 2nd quarter. KBC Group NV now owns 457,918 shares of the utilities provider’s stock valued at $17,836,000 after buying an additional 114,523 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of California Water Service Group by 7.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 336,980 shares of the utilities provider’s stock valued at $13,126,000 after buying an additional 24,742 shares during the period. Finally, Legal & General Group Plc raised its position in shares of California Water Service Group by 11.7% during the 2nd quarter. Legal & General Group Plc now owns 289,025 shares of the utilities provider’s stock valued at $11,263,000 after buying an additional 30,333 shares during the period. 71.88% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have recently commented on CWT shares. Wells Fargo & Co reaffirmed a “market perform” rating and set a $44.00 price target on shares of California Water Service Group in a research report on Monday, August 27th. Evercore ISI started coverage on shares of California Water Service Group in a research report on Monday, September 17th. They set an “in-line” rating and a $42.00 price target on the stock. Finally, Zacks Investment Research raised shares of California Water Service Group from a “sell” rating to a “hold” rating in a research report on Wednesday, September 26th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. California Water Service Group currently has a consensus rating of “Hold” and a consensus price target of $39.67.

Shares of NYSE CWT opened at $45.73 on Friday. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of 32.66, a PEG ratio of 5.45 and a beta of 0.50. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.60 and a current ratio of 0.62. California Water Service Group has a 52-week low of $35.25 and a 52-week high of $46.79.

California Water Service Group (NYSE:CWT) last announced its earnings results on Thursday, November 1st. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.72. The company had revenue of $219.00 million for the quarter, compared to analyst estimates of $249.64 million. California Water Service Group had a return on equity of 8.44% and a net margin of 8.54%. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.70 earnings per share. Analysts predict that California Water Service Group will post 1.22 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, November 23rd. Shareholders of record on Monday, November 12th were given a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date was Thursday, November 8th. California Water Service Group’s payout ratio is 53.57%.

In other California Water Service Group news, VP David B. Healey sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $41.76, for a total value of $41,760.00. Following the sale, the vice president now owns 14,492 shares of the company’s stock, valued at $605,185.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.00% of the stock is owned by insiders.

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About California Water Service Group

California Water Service Group, through its subsidiaries, provides water utility and other related services in California, Washington, New Mexico, and Hawaii. It 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.

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Institutional Ownership by Quarter for California Water Service Group (NYSE:CWT)

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