TD Asset Management Inc boosted its stake in shares of California Water Service Group (NYSE:CWT – Get Rating) by 1.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 124,040 shares of the utilities provider’s stock after acquiring an additional 2,000 shares during the period. TD Asset Management Inc owned 0.23% of California Water Service Group worth $7,522,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in CWT. JPMorgan Chase & Co. increased its stake in California Water Service Group by 45.7% during the 1st quarter. JPMorgan Chase & Co. now owns 107,210 shares of the utilities provider’s stock worth $6,356,000 after acquiring an additional 33,634 shares during the period. HighTower Advisors LLC increased its stake in shares of California Water Service Group by 5.5% in the 1st quarter. HighTower Advisors LLC now owns 7,158 shares of the utilities provider’s stock valued at $426,000 after purchasing an additional 373 shares during the last quarter. Cetera Advisor Networks LLC increased its stake in shares of California Water Service Group by 47.4% in the 1st quarter. Cetera Advisor Networks LLC now owns 4,358 shares of the utilities provider’s stock valued at $258,000 after purchasing an additional 1,401 shares during the last quarter. Citigroup Inc. increased its stake in shares of California Water Service Group by 29.3% in the 1st quarter. Citigroup Inc. now owns 54,021 shares of the utilities provider’s stock valued at $3,203,000 after purchasing an additional 12,226 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of California Water Service Group by 10.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,042 shares of the utilities provider’s stock valued at $477,000 after purchasing an additional 758 shares during the last quarter. Institutional investors own 79.01% of the company’s stock.
Analysts Set New Price Targets
Separately, StockNews.com lowered California Water Service Group from a “hold” rating to a “sell” rating in a research note on Friday, April 28th.
California Water Service Group Trading Up 1.7 %
Shares of CWT stock opened at $56.92 on Friday. The firm has a market capitalization of $3.19 billion, a P/E ratio of 42.48 and a beta of 0.48. California Water Service Group has a twelve month low of $48.46 and a twelve month high of $66.12. The company has a quick ratio of 0.96, a current ratio of 0.77 and a debt-to-equity ratio of 0.81. The stock’s fifty day simple moving average is $57.42 and its 200 day simple moving average is $59.93.
California Water Service Group (NYSE:CWT – Get Rating) last issued its quarterly earnings data on Thursday, March 2nd. The utilities provider reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.13. The business had revenue of $200.94 million for the quarter, compared to analyst estimates of $180.14 million. California Water Service Group had a return on equity of 5.69% and a net margin of 9.04%. During the same quarter in the previous year, the company posted $0.07 EPS. As a group, sell-side analysts predict that California Water Service Group will post 1.87 EPS for the current fiscal year.
California Water Service Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 19th. Investors of record on Monday, May 8th will be given a dividend of $0.26 per share. The ex-dividend date is Friday, May 5th. This represents a $1.04 dividend on an annualized basis and a yield of 1.83%. California Water Service Group’s dividend payout ratio is currently 77.61%.
California Water Service Group Profile
California Water Service Group is a holding company, which engages in provision of water utility and other related services in California, Washington, New Mexico, and Hawaii through its wholly-owned subsidiaries. The firm 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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