California Water Service Group (NYSE:CWT) Shares Acquired by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lifted its position in California Water Service Group (NYSE:CWT) by 66.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,736 shares of the utilities provider’s stock after acquiring an additional 9,894 shares during the period. Exchange Traded Concepts LLC’s holdings in California Water Service Group were worth $1,121,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in CWT. Blue Trust Inc. boosted its stake in 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 last quarter. GAMMA Investing LLC lifted its stake in shares of California Water Service Group by 50.2% in the third quarter. GAMMA Investing LLC now owns 1,236 shares of the utilities provider’s stock worth $67,000 after buying an additional 413 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in California Water Service Group during the second quarter worth about $85,000. nVerses Capital LLC purchased a new stake in California Water Service Group during the 3rd quarter valued at about $119,000. Finally, CWM LLC raised its holdings in California Water Service Group by 129.1% in the 3rd quarter. CWM LLC now owns 3,090 shares of the utilities provider’s stock valued at $168,000 after acquiring an additional 1,741 shares during the last quarter. 82.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other California Water Service Group news, VP Michael B. Luu sold 985 shares of the company’s stock in a transaction 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 transaction, the vice president now directly owns 20,354 shares in the company, valued at $1,048,231. This represents a 4.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.73% of the stock is currently owned by corporate insiders.

California Water Service Group Price Performance

CWT stock opened at $45.13 on Tuesday. California Water Service Group has a 52-week low of $41.64 and a 52-week high of $56.25. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 0.64. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of 13.04, a price-to-earnings-growth ratio of 0.44 and a beta of 0.52. The business has a fifty day moving average of $46.75 and a two-hundred day moving average of $50.83.

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 analysts’ consensus estimates 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 business had revenue of $299.60 million for the quarter, compared to analyst estimates of $289.55 million. During the same period in the previous year, the business posted $0.60 earnings per share. The firm’s revenue for the quarter was up 17.5% compared to the same quarter last year. As a group, research analysts anticipate that California Water Service Group will post 3.15 earnings per share for the current year.

California Water Service Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Tuesday, November 12th were issued a $0.28 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $1.12 annualized dividend and a dividend yield of 2.48%. California Water Service Group’s dividend payout ratio is currently 32.37%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Wells Fargo & Company upgraded California Water Service Group from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $56.00 to $52.00 in a report on Tuesday, January 7th. StockNews.com raised California Water Service Group from a “sell” rating to a “hold” rating in a research note on Wednesday, January 8th. Finally, Bank of America started coverage on California Water Service Group in a research note on Wednesday, December 11th. They issued a “buy” rating and a $57.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $53.25.

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, 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.