Prudential Financial Inc. Sells 540 Shares of California Water Service Group (NYSE:CWT)

Prudential Financial Inc. trimmed its holdings in shares of California Water Service Group (NYSE:CWT) by 0.7% in the 2nd quarter, Holdings Channel reports. The firm owned 78,013 shares of the utilities provider’s stock after selling 540 shares during the quarter. Prudential Financial Inc.’s holdings in California Water Service Group were worth $3,950,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Arjuna Capital lifted its position in shares of California Water Service Group by 20.8% during the second quarter. Arjuna Capital now owns 7,040 shares of the utilities provider’s stock worth $356,000 after purchasing an additional 1,214 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in shares of California Water Service Group by 4.7% in the second quarter. Allianz Asset Management GmbH now owns 289,712 shares of the utilities provider’s stock valued at $14,668,000 after acquiring an additional 12,988 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of California Water Service Group by 64.9% in the second quarter. JPMorgan Chase & Co. now owns 63,881 shares of the utilities provider’s stock valued at $3,168,000 after acquiring an additional 25,143 shares in the last quarter. Redpoint Investment Management Pty Ltd raised its holdings in shares of California Water Service Group by 6.9% in the second quarter. Redpoint Investment Management Pty Ltd now owns 7,723 shares of the utilities provider’s stock valued at $391,000 after acquiring an additional 501 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new stake in shares of California Water Service Group in the second quarter valued at about $821,000. Institutional investors and hedge funds own 76.30% of the company’s stock.

In other California Water Service Group news, VP David B. Healey sold 1,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $52.26, for a total value of $52,260.00. Following the completion of the transaction, the vice president now directly owns 14,023 shares in the company, valued at $732,841.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard P. Magnuson sold 20,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $56.73, for a total transaction of $1,134,600.00. Following the completion of the transaction, the director now owns 51,344 shares of the company’s stock, valued at $2,912,745.12. The disclosure for this sale can be found here. Insiders sold 31,000 shares of company stock valued at $1,742,260 over the last quarter. 0.99% of the stock is currently owned by corporate insiders.



CWT has been the subject of several recent research reports. Boenning Scattergood initiated coverage on California Water Service Group in a report on Monday, June 10th. They issued a “neutral” rating for the company. Wells Fargo & Co restated a “hold” rating on shares of California Water Service Group in a report on Monday, June 10th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. California Water Service Group currently has an average rating of “Hold” and a consensus price target of $48.50.

Shares of CWT stock traded down $0.21 on Friday, hitting $54.10. The stock had a trading volume of 207,465 shares, compared to its average volume of 213,522. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 1.12. The business has a 50 day moving average price of $54.58 and a 200 day moving average price of $52.08. The company has a market cap of $2.61 billion, a PE ratio of 39.78, a P/E/G ratio of 4.07 and a beta of 0.29. California Water Service Group has a one year low of $40.10 and a one year high of $57.48.

California Water Service Group (NYSE:CWT) last announced its earnings results on Thursday, August 1st. The utilities provider reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.02). The firm had revenue of $179.03 million during the quarter, compared to the consensus estimate of $180.97 million. California Water Service Group had a return on equity of 8.21% and a net margin of 8.55%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.31 earnings per share. Equities research analysts expect that California Water Service Group will post 1.33 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 12th were issued a $0.198 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.79 dividend on an annualized basis and a yield of 1.46%. California Water Service Group’s dividend payout ratio is presently 58.09%.

California Water Service Group 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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