Catalyst Capital Advisors LLC decreased its stake in shares of California Water Service Group (NYSE:CWT) by 59.4% in the 1st quarter, HoldingsChannel reports. The fund owned 6,500 shares of the utilities provider’s stock after selling 9,500 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in California Water Service Group were worth $353,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CWT. Massey Quick Simon & CO. LLC bought a new position in California Water Service Group in the first quarter valued at $27,000. Advisors Asset Management Inc. grew its position in 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 in the last quarter. Parkside Financial Bank & Trust grew its position in 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 in the last quarter. Parallel Advisors LLC grew its position in 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 in the last quarter. Finally, Pinnacle Bank bought a new position in California Water Service Group in the fourth quarter valued at $38,000. 72.81% of the stock is owned by institutional investors and hedge funds.

A number of research firms recently weighed in on CWT. Wells Fargo & Co raised shares of California Water Service Group to a “market perform” rating in a research report on Thursday, April 25th. ValuEngine cut shares of California Water Service Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 11th. Finally, Zacks Investment Research upgraded shares of California Water Service Group from a “sell” rating to a “hold” rating in a research note on Tuesday, February 26th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $48.50.

Shares of California Water Service Group stock opened at $50.69 on Friday. The company has a market cap of $2.44 billion, a P/E ratio of 37.27, a P/E/G ratio of 3.64 and a beta of 0.35. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.49 and a current ratio of 0.50. California Water Service Group has a 1 year low of $38.45 and a 1 year high of $55.05.

California Water Service Group (NYSE:CWT) last announced its quarterly earnings results on Thursday, April 25th. The utilities provider reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.21). The company had revenue of $126.10 million for the quarter, compared to the consensus estimate of $138.86 million. California Water Service Group had a net margin of 8.05% and a return on equity of 7.76%. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.05) earnings per share. Equities research analysts forecast that California Water Service Group will post 1.39 EPS for the current year.

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

In related news, insider Elissa Y. Ouyang sold 1,000 shares of California Water Service Group stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $54.03, for a total transaction of $54,030.00. Following the sale, the insider now directly owns 3,680 shares of the company’s stock, valued at approximately $198,830.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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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