California Water Service Group (NYSE:CWT) Shares Sold by BlackRock Inc.

BlackRock Inc. cut its position in shares of California Water Service Group (NYSE:CWT) by 0.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 7,382,518 shares of the utilities provider’s stock after selling 35,340 shares during the period. BlackRock Inc. owned about 0.15% of California Water Service Group worth $373,776,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CWT. Atria Investments LLC acquired a new stake in California Water Service Group during the second quarter worth about $9,119,000. Morgan Stanley increased its stake in California Water Service Group by 80.0% during the second quarter. Morgan Stanley now owns 484,613 shares of the utilities provider’s stock worth $24,536,000 after acquiring an additional 215,343 shares during the last quarter. Nuance Investments LLC acquired a new stake in California Water Service Group during the second quarter worth about $9,306,000. Nuveen Asset Management LLC increased its stake in California Water Service Group by 19.1% during the second quarter. Nuveen Asset Management LLC now owns 818,155 shares of the utilities provider’s stock worth $41,423,000 after acquiring an additional 131,174 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in California Water Service Group by 1.0% during the second quarter. Vanguard Group Inc. now owns 5,655,196 shares of the utilities provider’s stock worth $286,322,000 after acquiring an additional 56,921 shares during the last quarter. Institutional investors own 75.06% of the company’s stock.

In other news, Director Richard P. Magnuson sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $56.73, for a total value of $1,134,600.00. Following the completion of the sale, the director now owns 51,344 shares of the company’s stock, valued at $2,912,745.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Peter C. Nelson sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $55.54, for a total value of $555,400.00. Following the completion of the sale, the director now directly owns 24,332 shares of the company’s stock, valued at approximately $1,351,399.28. The disclosure for this sale can be found here. 0.99% of the stock is owned by corporate insiders.

Shares of NYSE:CWT opened at $50.46 on Thursday. The firm has a market capitalization of $2.43 billion, a PE ratio of 37.10, a P/E/G ratio of 3.74 and a beta of 0.22. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.63 and a quick ratio of 0.61. The business has a 50-day moving average of $53.59 and a two-hundred day moving average of $52.48. California Water Service Group has a 12 month low of $42.91 and a 12 month high of $57.48.

California Water Service Group (NYSE:CWT) last announced its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.88 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.09. The company had revenue of $232.50 million during the quarter, compared to analyst estimates of $224.50 million. California Water Service Group had a return on equity of 9.18% and a net margin of 9.52%. The firm’s revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.72 earnings per share. As a group, research analysts anticipate that California Water Service Group will post 1.35 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 11th will be given a $0.1975 dividend. This represents a $0.79 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Thursday, November 7th. California Water Service Group’s payout ratio is 58.09%.

Separately, ValuEngine lowered California Water Service Group from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $50.67.

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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