Truist Financial Corp trimmed its holdings in California Water Service Group (NYSE:CWT – Get Rating) by 4.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,322 shares of the utilities provider’s stock after selling 427 shares during the quarter. Truist Financial Corp’s holdings in California Water Service Group were worth $493,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in CWT. Ellevest Inc. boosted its holdings in California Water Service Group by 129.2% in the first quarter. Ellevest Inc. now owns 518 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 292 shares during the last quarter. CWM LLC purchased a new stake in shares of California Water Service Group during the 4th quarter worth about $94,000. UMB Bank N A MO purchased a new stake in shares of California Water Service Group during the 4th quarter worth about $139,000. Dixon Hughes Goodman Wealth Advisors LLC purchased a new stake in shares of California Water Service Group during the 4th quarter worth about $147,000. Finally, Kepos Capital LP purchased a new stake in shares of California Water Service Group during the 4th quarter worth about $182,000. 77.36% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Separately, StockNews.com started coverage on shares of California Water Service Group in a research note on Thursday, March 31st. They set a “hold” rating on the stock.
California Water Service Group Trading Up 1.0 %
CWT stock opened at $58.68 on Wednesday. The company’s 50-day simple moving average is $54.28 and its 200-day simple moving average is $56.53. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 0.90. California Water Service Group has a 52-week low of $48.46 and a 52-week high of $72.08. The firm has a market cap of $3.16 billion, a P/E ratio of 28.76 and a beta of 0.31.
California Water Service Group (NYSE:CWT – Get Rating) last issued its quarterly earnings results on Thursday, April 28th. The utilities provider reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). The company had revenue of $172.99 million during the quarter, compared to analysts’ expectations of $154.00 million. California Water Service Group had a net margin of 12.90% and a return on equity of 9.41%. During the same period in the prior year, the business posted ($0.06) earnings per share. As a group, equities analysts forecast that California Water Service Group will post 1.83 EPS for the current fiscal year.
Insider Activity at California Water Service Group
In related news, VP David B. Healey sold 500 shares of the firm’s stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $53.15, for a total value of $26,575.00. Following the transaction, the vice president now directly owns 16,046 shares of the company’s stock, valued at approximately $852,844.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other California Water Service Group news, VP Robert J. Kuta sold 1,365 shares of the stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $55.14, for a total value of $75,266.10. Following the completion of the sale, the vice president now owns 12,094 shares in the company, valued at approximately $666,863.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP David B. Healey sold 500 shares of the stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $53.15, for a total transaction of $26,575.00. Following the completion of the sale, the vice president now owns 16,046 shares of the company’s stock, valued at approximately $852,844.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,065 shares of company stock valued at $112,865. 0.97% of the stock is owned by corporate 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.
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