Asset Planning Inc Acquires Shares of 4,500 California Water Service Group (NYSE:CWT)

Asset Planning Inc acquired a new stake in California Water Service Group (NYSE:CWT) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 4,500 shares of the utilities provider’s stock, valued at approximately $204,000.

A number of other institutional investors have also recently bought and sold shares of the business. Geode Capital Management LLC grew its stake in California Water Service Group by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,337,966 shares of the utilities provider’s stock valued at $72,559,000 after purchasing an additional 24,275 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of California Water Service Group by 7.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 710,958 shares of the utilities provider’s stock worth $38,548,000 after acquiring an additional 48,055 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of California Water Service Group by 79.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 252,833 shares of the utilities provider’s stock worth $13,709,000 after acquiring an additional 112,118 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of California Water Service Group by 2.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 214,299 shares of the utilities provider’s stock worth $11,619,000 after acquiring an additional 6,081 shares during the period. Finally, Thematics Asset Management grew its stake in shares of California Water Service Group by 8.1% during the 3rd quarter. Thematics Asset Management now owns 186,470 shares of the utilities provider’s stock worth $10,110,000 after acquiring an additional 14,000 shares during the period. Institutional investors own 82.78% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, 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 value of $50,727.50. Following the sale, the vice president now directly owns 20,354 shares in the company, valued at approximately $1,048,231. This trade represents a 4.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.73% of the stock is owned by corporate insiders.

California Water Service Group Price Performance

CWT opened at $45.62 on Friday. The stock’s 50 day simple moving average is $45.22 and its 200 day simple moving average is $50.19. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.64 and a quick ratio of 0.60. California Water Service Group has a 1 year low of $41.64 and a 1 year high of $56.25. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of 13.18, a PEG ratio of 0.45 and a beta of 0.52.

California Water Service Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Monday, February 10th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.63%. This is a positive change from California Water Service Group’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, February 10th. California Water Service Group’s dividend payout ratio (DPR) is presently 32.37%.

California Water Service Group 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.