Loudon Investment Management LLC lowered its holdings in shares of California Water Service Group (NYSE:CWT) by 14.6% during the 1st quarter, HoldingsChannel reports. The fund owned 12,920 shares of the utilities provider’s stock after selling 2,200 shares during the period. Loudon Investment Management LLC’s holdings in California Water Service Group were worth $701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also made changes to their positions in the company. Massey Quick Simon & CO. LLC bought a new stake in California Water Service Group during the 1st quarter valued at $27,000. Advisors Asset Management Inc. increased its position in shares of 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 purchasing an additional 209 shares during the period. Parkside Financial Bank & Trust increased its position in shares of 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 purchasing an additional 714 shares during the period. Parallel Advisors LLC increased its position in shares of 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 purchasing an additional 530 shares during the period. Finally, Pinnacle Bank acquired a new position in shares of California Water Service Group during the 4th quarter valued at $38,000. 73.22% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE CWT traded up $0.37 during mid-day trading on Thursday, reaching $50.61. The company had a trading volume of 514 shares, compared to its average volume of 217,626. The company has a quick ratio of 0.49, a current ratio of 0.50 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 37.28, a PEG ratio of 3.62 and a beta of 0.35. California Water Service Group has a 1-year low of $38.15 and a 1-year high of $55.05.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Monday, May 6th will be issued a $0.1975 dividend. This represents a $0.79 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Friday, May 3rd. California Water Service Group’s payout ratio is 58.09%.
Several equities analysts have recently issued reports on the company. Wells Fargo & Co upgraded California Water Service Group to a “market perform” rating in a research report on Thursday, April 25th. ValuEngine cut California Water Service Group from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 11th. Finally, Zacks Investment Research upgraded California Water Service Group from a “sell” rating to a “hold” rating in a report on Tuesday, February 26th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $48.50.
In related news, Director Lester A. Snow sold 1,000 shares of California Water Service Group stock in a transaction 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 transaction, the director now directly owns 18,195 shares in the company, valued at approximately $976,889.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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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