Atom Investors LP Boosts Stake in California Water Service Group (NYSE:CWT)

Atom Investors LP increased its holdings in shares of California Water Service Group (NYSE:CWT) by 118.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,473 shares of the utilities provider’s stock after acquiring an additional 13,290 shares during the period. Atom Investors LP’s holdings in California Water Service Group were worth $1,327,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Blue Trust Inc. grew its stake in shares of California Water Service Group by 255.6% during the 3rd quarter. Blue Trust Inc. now owns 505 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 363 shares during the period. GAMMA Investing LLC grew its position in California Water Service Group by 109.9% during the second quarter. GAMMA Investing LLC now owns 823 shares of the utilities provider’s stock worth $40,000 after buying an additional 431 shares during the period. CWM LLC increased its holdings in California Water Service Group by 90.8% in the second quarter. CWM LLC now owns 1,349 shares of the utilities provider’s stock valued at $65,000 after buying an additional 642 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of California Water Service Group during the 2nd quarter valued at approximately $85,000. Finally, nVerses Capital LLC purchased a new stake in shares of California Water Service Group during the 3rd quarter worth approximately $119,000. Hedge funds and other institutional investors own 82.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded California Water Service Group from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $53.67.

California Water Service Group Stock Performance

Shares of CWT opened at $50.44 on Tuesday. California Water Service Group has a 12-month low of $43.50 and a 12-month high of $56.25. The stock has a market cap of $3.00 billion, a P/E ratio of 14.58 and a beta of 0.49. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 0.64. The company has a 50-day moving average of $52.09 and a two-hundred day moving average of $51.82.

California Water Service Group (NYSE:CWT) last issued its quarterly earnings data on Thursday, October 31st. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.02). California Water Service Group had a return on equity of 13.24% and a net margin of 19.56%. The company had revenue of $299.60 million for the quarter, compared to analyst estimates of $289.55 million. During the same quarter in the prior year, the firm earned $0.60 earnings per share. The company’s revenue for the quarter was up 17.5% on a year-over-year basis. As a group, research analysts predict that California Water Service Group will post 3.29 EPS for the current fiscal year.

California Water Service Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Tuesday, November 12th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date was Tuesday, November 12th. California Water Service Group’s payout ratio is currently 32.37%.

Insider Buying and Selling

In related news, Director Thomas M. Krummel sold 555 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $55.09, for a total transaction of $30,574.95. Following the sale, the director now owns 21,951 shares in the company, valued at approximately $1,209,280.59. This trade represents a 2.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael B. Luu sold 985 shares of California Water Service Group stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $51.50, for a total transaction of $50,727.50. Following the completion of the sale, the vice president now directly owns 20,354 shares of the company’s stock, valued at $1,048,231. The trade was a 4.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by company insiders.

About California Water Service Group

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 services.