Commonwealth Equity Services LLC lowered its position in shares of California Water Service Group (NYSE:CWT) by 2.8% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 11,765 shares of the utilities provider’s stock after selling 344 shares during the quarter. Commonwealth Equity Services LLC’s holdings in California Water Service Group were worth $622,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of CWT. WINTON GROUP Ltd lifted its position in California Water Service Group by 16.2% during the 2nd quarter. WINTON GROUP Ltd now owns 334,492 shares of the utilities provider’s stock worth $16,935,000 after acquiring an additional 46,642 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in shares of California Water Service Group by 1.6% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 18,916 shares of the utilities provider’s stock valued at $958,000 after buying an additional 300 shares during the period. G&S Capital LLC acquired a new position in shares of California Water Service Group in the 2nd quarter valued at about $321,000. Sageworth Trust Co acquired a new position in shares of California Water Service Group in the 2nd quarter valued at about $204,000. Finally, Arizona State Retirement System lifted its holdings in shares of California Water Service Group by 0.7% in the 2nd quarter. Arizona State Retirement System now owns 74,666 shares of the utilities provider’s stock valued at $3,780,000 after buying an additional 515 shares during the period. 74.26% of the stock is owned by institutional investors.
Separately, ValuEngine raised California Water Service Group from a “hold” rating to a “buy” rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $50.67.
Shares of CWT stock opened at $50.42 on Tuesday. The stock has a market cap of $2.40 billion, a PE ratio of 37.07, a price-to-earnings-growth ratio of 3.70 and a beta of 0.22. The business has a 50-day simple moving average of $53.26 and a 200-day simple moving average of $52.49. The company has a quick ratio of 0.61, a current ratio of 0.63 and a debt-to-equity ratio of 1.07. California Water Service Group has a 52-week low of $43.38 and a 52-week high of $57.48.
California Water Service Group (NYSE:CWT) last issued its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.88 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.09. The business had revenue of $232.50 million during the quarter, compared to analysts’ expectations of $224.50 million. California Water Service Group had a return on equity of 9.18% and a net margin of 9.52%. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.72 EPS. Sell-side analysts anticipate that California Water Service Group will post 1.35 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 11th will be issued a $0.1975 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.79 annualized dividend and a dividend yield of 1.57%. California Water Service Group’s dividend payout ratio (DPR) is presently 58.09%.
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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