Principal Financial Group Inc. Sells 30,221 Shares of California Water Service Group (NYSE:CWT)

Principal Financial Group Inc. decreased its stake in shares of California Water Service Group (NYSE:CWTGet Rating) by 6.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 424,108 shares of the utilities provider’s stock after selling 30,221 shares during the period. Principal Financial Group Inc. owned 0.81% of California Water Service Group worth $30,477,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the stock. AlphaCrest Capital Management LLC boosted its holdings in shares of California Water Service Group by 118.5% during the 4th quarter. AlphaCrest Capital Management LLC now owns 30,623 shares of the utilities provider’s stock worth $2,201,000 after buying an additional 16,605 shares during the period. UMB Bank N A MO bought a new stake in California Water Service Group in the 4th quarter valued at about $139,000. Alan B. Lancz & Associates Inc. bought a new stake in California Water Service Group in the 4th quarter valued at about $460,000. AF Advisors Inc. bought a new stake in California Water Service Group in the 4th quarter valued at about $216,000. Finally, Maryland State Retirement & Pension System boosted its holdings in California Water Service Group by 3.7% in the 4th quarter. Maryland State Retirement & Pension System now owns 20,973 shares of the utilities provider’s stock valued at $1,507,000 after purchasing an additional 755 shares during the period. 77.36% of the stock is owned by institutional investors and hedge funds.

CWT has been the subject of a number of recent research reports. StockNews.com initiated coverage on shares of California Water Service Group in a report on Thursday, March 31st. They issued a “hold” rating for the company. Seaport Res Ptn raised shares of California Water Service Group from a “sell” rating to a “neutral” rating in a report on Tuesday, January 25th.

Shares of NYSE:CWT opened at $53.04 on Friday. The firm has a 50 day moving average of $56.04 and a 200-day moving average of $60.97. The stock has a market capitalization of $2.85 billion, a PE ratio of 26.00 and a beta of 0.35. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 0.90. California Water Service Group has a 12 month low of $49.84 and a 12 month high of $72.08.

California Water Service Group (NYSE:CWTGet Rating) last issued its earnings results on Thursday, April 28th. The utilities provider reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). California Water Service Group had a net margin of 12.90% and a return on equity of 9.41%. During the same quarter last year, the firm earned ($0.06) earnings per share. On average, research analysts predict that California Water Service Group will post 1.83 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 20th. Stockholders of record on Monday, May 9th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend is Friday, May 6th. California Water Service Group’s payout ratio is presently 49.02%.

About California Water Service Group (Get Rating)

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.

See Also

Want to see what other hedge funds are holding CWT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for California Water Service Group (NYSE:CWTGet Rating).

Institutional Ownership by Quarter for California Water Service Group (NYSE:CWT)

Receive News & Ratings for California Water Service Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for California Water Service Group and related companies with MarketBeat.com's FREE daily email newsletter.