California Water Service Group $CWT Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its stake in shares of California Water Service Group (NYSE:CWT) by 31.9% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 44,644 shares of the utilities provider’s stock after selling 20,904 shares during the period. Thrivent Financial for Lutherans’ holdings in California Water Service Group were worth $2,049,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CWT. Norges Bank acquired a new position in California Water Service Group during the second quarter worth $30,757,000. Jane Street Group LLC acquired a new position in California Water Service Group during the 1st quarter worth about $5,979,000. Adage Capital Partners GP L.L.C. acquired a new position in California Water Service Group during the 2nd quarter worth about $4,548,000. Advisors Preferred LLC purchased a new position in California Water Service Group during the 2nd quarter valued at about $3,235,000. Finally, Midwest Trust Co acquired a new position in California Water Service Group in the 2nd quarter valued at about $2,516,000. Hedge funds and other institutional investors own 82.78% of the company’s stock.

California Water Service Group Stock Performance

Shares of CWT opened at $44.08 on Thursday. The stock has a 50-day simple moving average of $44.02 and a 200-day simple moving average of $45.52. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.52 and a current ratio of 0.55. California Water Service Group has a 1 year low of $41.29 and a 1 year high of $51.63. The stock has a market capitalization of $2.63 billion, a PE ratio of 19.25, a PEG ratio of 2.01 and a beta of 0.64.

California Water Service Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 20th. Shareholders of record on Monday, February 9th will be given a $0.335 dividend. The ex-dividend date of this dividend is Monday, February 9th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 3.0%. This is a boost from California Water Service Group’s previous quarterly dividend of $0.30. California Water Service Group’s payout ratio is currently 58.52%.

Analyst Ratings Changes

Several brokerages have recently issued reports on CWT. Weiss Ratings reissued a “hold (c)” rating on shares of California Water Service Group in a research report on Wednesday, January 21st. Robert W. Baird set a $55.00 target price on shares of California Water Service Group in a research note on Friday, October 31st. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $55.00.

About California Water Service Group

California Water Service Group (NYSE: CWT) is a publicly traded holding company that provides regulated water utility services through its subsidiaries. The company delivers safe, reliable drinking water and wastewater management to residential, commercial, industrial and municipal customers across California, Hawaii and New Mexico. Its principal operating units include California Water Service, New Mexico Water Service and Hawaii Water Service, each responsible for end‐to‐end water supply operations—from source development and treatment to distribution and customer service.

Founded in 1926 as the California Water Service Company, the group has grown to become one of the largest investor‐owned water utilities in the United States by customer count.