Texas Permanent School Fund raised its holdings in shares of California Water Service Group (NYSE:CWT) by 3.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 32,637 shares of the utilities provider’s stock after purchasing an additional 1,182 shares during the quarter. Texas Permanent School Fund’s holdings in California Water Service Group were worth $1,772,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in CWT. Massey Quick Simon & CO. LLC purchased a new position in shares of California Water Service Group during the first quarter valued at approximately $27,000. Advisors Asset Management Inc. boosted its holdings in shares of California Water Service Group by 47.5% in the fourth quarter. Advisors Asset Management Inc. now owns 649 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 209 shares during the period. Parkside Financial Bank & Trust boosted its holdings in shares of California Water Service Group by 1,700.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 756 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 714 shares during the period. Parallel Advisors LLC boosted its holdings in shares of California Water Service Group by 414.1% in the first quarter. Parallel Advisors LLC now owns 658 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 530 shares during the period. Finally, Pinnacle Bank purchased a new stake in shares of California Water Service Group in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 73.22% of the company’s stock.

A number of analysts recently issued reports on CWT shares. Zacks Investment Research lowered California Water Service Group from a “hold” rating to a “sell” rating in a report on Monday, February 11th. ValuEngine raised shares of California Water Service Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 12th. Finally, Wells Fargo & Co boosted their price objective on shares of California Water Service Group from $45.00 to $49.00 and gave the stock a “market perform” rating in a research note on Monday, March 4th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. California Water Service Group currently has a consensus rating of “Hold” and an average price target of $48.50.

NYSE:CWT traded down $0.09 during trading hours on Wednesday, reaching $50.59. The company’s stock had a trading volume of 4,391 shares, compared to its average volume of 218,857. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of 37.19, a price-to-earnings-growth ratio of 3.62 and a beta of 0.35. California Water Service Group has a 12 month low of $38.45 and a 12 month high of $55.05. The company has a quick ratio of 0.49, a current ratio of 0.50 and a debt-to-equity ratio of 1.00.

California Water Service Group (NYSE:CWT) last issued its quarterly earnings data on Thursday, April 25th. The utilities provider reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.21). The business had revenue of $126.10 million during the quarter, compared to the consensus estimate of $138.86 million. California Water Service Group had a return on equity of 7.76% and a net margin of 8.05%. The business’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period last year, the firm earned ($0.05) EPS. On average, sell-side analysts expect that California Water Service Group will post 1.39 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Monday, May 6th were given a dividend of $0.1975 per share. This represents a $0.79 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend was Friday, May 3rd. California Water Service Group’s payout ratio is presently 58.09%.

In other news, Director Lester A. Snow sold 1,000 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $53.69, for a total transaction of $53,690.00. Following the transaction, the director now directly owns 18,195 shares of the company’s stock, valued at $976,889.55. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.99% of the company’s stock.

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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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