Assenagon Asset Management S.A. trimmed its position in California Water Service Group (NYSE:CWT – Free Report) by 43.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,292 shares of the utilities provider’s stock after selling 30,472 shares during the period. Assenagon Asset Management S.A.’s holdings in California Water Service Group were worth $1,953,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of CWT. SG Americas Securities LLC raised its holdings in California Water Service Group by 79.8% in the first quarter. SG Americas Securities LLC now owns 56,109 shares of the utilities provider’s stock worth $2,719,000 after purchasing an additional 24,904 shares during the period. First National Corp MA ADV raised its stake in California Water Service Group by 121.4% during the 1st quarter. First National Corp MA ADV now owns 49,153 shares of the utilities provider’s stock worth $2,382,000 after buying an additional 26,956 shares during the period. Parallel Advisors LLC lifted its holdings in California Water Service Group by 686.4% during the first quarter. Parallel Advisors LLC now owns 2,548 shares of the utilities provider’s stock worth $123,000 after acquiring an additional 2,224 shares in the last quarter. GAMMA Investing LLC lifted its holdings in California Water Service Group by 4,124.2% during the first quarter. GAMMA Investing LLC now owns 41,482 shares of the utilities provider’s stock worth $2,010,000 after acquiring an additional 40,500 shares in the last quarter. Finally, Versant Capital Management Inc grew its stake in California Water Service Group by 751.3% in the first quarter. Versant Capital Management Inc now owns 681 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 601 shares during the period. Institutional investors own 82.78% of the company’s stock.
Wall Street Analyst Weigh In
CWT has been the topic of several recent analyst reports. Wall Street Zen upgraded California Water Service Group from a “sell” rating to a “hold” rating in a report on Friday, June 6th. Wells Fargo & Company raised their target price on shares of California Water Service Group from $54.00 to $59.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Finally, Seaport Res Ptn upgraded shares of California Water Service Group from a “hold” rating to a “strong-buy” rating in a report on Friday, April 11th.
Insider Activity
In related news, Director Lester A. Snow sold 1,200 shares of the company’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $46.51, for a total transaction of $55,812.00. Following the sale, the director now owns 26,349 shares in the company, valued at approximately $1,225,491.99. This represents a 4.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.73% of the stock is owned by corporate insiders.
California Water Service Group Price Performance
Shares of CWT opened at $45.89 on Wednesday. The company has a quick ratio of 0.49, a current ratio of 0.53 and a debt-to-equity ratio of 0.68. California Water Service Group has a twelve month low of $41.64 and a twelve month high of $56.25. The stock has a market capitalization of $2.73 billion, a P/E ratio of 20.13, a P/E/G ratio of 2.27 and a beta of 0.66. The company has a 50 day moving average of $48.12 and a 200-day moving average of $46.78.
California Water Service Group (NYSE:CWT – Get Free Report) last announced its earnings results on Thursday, May 1st. The utilities provider reported $0.22 EPS for the quarter, topping the consensus estimate of $0.16 by $0.06. The business had revenue of $203.97 million during the quarter, compared to analysts’ expectations of $194.80 million. California Water Service Group had a net margin of 13.84% and a return on equity of 8.32%. The firm’s revenue was down 24.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.21 earnings per share. As a group, equities research analysts forecast that California Water Service Group will post 3.15 EPS for the current fiscal year.
California Water Service Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 12th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.61%. California Water Service Group’s dividend payout ratio is 52.63%.
California Water Service Group 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.
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