Great West Life Assurance Co. Can raised its position in California Water Service Group (NYSE:CWT) by 1.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 83,326 shares of the utilities provider’s stock after acquiring an additional 1,013 shares during the quarter. Great West Life Assurance Co. Can’s holdings in California Water Service Group were worth $4,519,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Massey Quick Simon & CO. LLC purchased a new stake in shares of California Water Service Group during the first quarter worth about $27,000. Advisors Asset Management Inc. grew its holdings in California Water Service Group by 47.5% during the 4th quarter. Advisors Asset Management Inc. now owns 649 shares of the utilities provider’s stock valued at $31,000 after buying an additional 209 shares in the last quarter. Parallel Advisors LLC grew its holdings in California Water Service Group by 414.1% during the 1st quarter. Parallel Advisors LLC now owns 658 shares of the utilities provider’s stock valued at $36,000 after buying an additional 530 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in California Water Service Group by 1,700.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 756 shares of the utilities provider’s stock valued at $36,000 after buying an additional 714 shares in the last quarter. Finally, Pinnacle Bank purchased a new position in California Water Service Group during the 4th quarter valued at approximately $38,000. 74.16% of the stock is currently owned by institutional investors.

In other news, Director Lester A. Snow sold 1,000 shares of California Water Service Group stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $53.69, for a total value of $53,690.00. Following the completion of the transaction, the director now owns 18,195 shares in the company, valued at approximately $976,889.55. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Peter C. Nelson sold 10,000 shares of California Water Service Group stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $49.10, for a total value of $491,000.00. Following the completion of the transaction, the director now owns 39,509 shares of the company’s stock, valued at approximately $1,939,891.90. The disclosure for this sale can be found here. Insiders have sold a total of 13,000 shares of company stock valued at $647,950 in the last 90 days. 0.99% of the stock is currently owned by company insiders.

Several research firms have weighed in on CWT. Wells Fargo & Co cut California Water Service Group from a “market perform” rating to an “underperform” rating and set a $50.00 price target for the company. in a report on Tuesday, March 26th. They noted that the move was a valuation call. Zacks Investment Research upgraded California Water Service Group from a “sell” rating to a “hold” rating in a report on Tuesday, February 26th. Finally, ValuEngine upgraded California Water Service Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 12th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $48.50.

NYSE CWT opened at $49.22 on Monday. The company has a market cap of $2.37 billion, a price-to-earnings ratio of 36.19, a PEG ratio of 3.53 and a beta of 0.37. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.50 and a quick ratio of 0.49. 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 released its quarterly earnings results on Thursday, April 25th. The utilities provider reported ($0.16) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.21). The firm had revenue of $126.10 million for the quarter, compared to analysts’ expectations of $138.86 million. California Water Service Group had a net margin of 8.05% and a return on equity of 7.76%. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.05) EPS. As a group, research analysts forecast that California Water Service Group will post 1.39 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Monday, May 6th were issued a dividend of $0.1975 per share. This represents a $0.79 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend was Friday, May 3rd. California Water Service Group’s dividend payout ratio is presently 58.09%.

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California Water Service Group Company Profile

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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