California Water Service Group (NYSE:CWT) Shares Sold by Inceptionr LLC

Inceptionr LLC trimmed its position in California Water Service Group (NYSE:CWT) by 33.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,087 shares of the utilities provider’s stock after selling 4,013 shares during the period. Inceptionr LLC’s holdings in California Water Service Group were worth $367,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in California Water Service Group by 1.8% in the third quarter. Geode Capital Management LLC now owns 1,337,966 shares of the utilities provider’s stock worth $72,559,000 after purchasing an additional 24,275 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of California Water Service Group by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 722,163 shares of the utilities provider’s stock valued at $32,736,000 after buying an additional 11,205 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC increased its holdings in shares of California Water Service Group by 5.9% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 648,406 shares of the utilities provider’s stock valued at $29,392,000 after buying an additional 36,142 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of California Water Service Group by 21.2% in the fourth quarter. Bank of New York Mellon Corp now owns 634,179 shares of the utilities provider’s stock valued at $28,747,000 after buying an additional 110,962 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of California Water Service Group by 4.1% in the fourth quarter. Principal Financial Group Inc. now owns 288,923 shares of the utilities provider’s stock valued at $13,097,000 after buying an additional 11,328 shares in the last quarter. 82.78% of the stock is currently owned by institutional investors and hedge funds.

California Water Service Group Price Performance

Shares of NYSE:CWT opened at $47.92 on Friday. The company’s fifty day moving average is $44.87 and its two-hundred day moving average is $49.32. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 0.64. California Water Service Group has a 12-month low of $41.64 and a 12-month high of $56.25. The company has a market cap of $2.85 billion, a P/E ratio of 13.85, a price-to-earnings-growth ratio of 0.46 and a beta of 0.49.

California Water Service Group (NYSE:CWT) last announced its earnings results on Thursday, February 27th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.05). California Water Service Group had a net margin of 19.56% and a return on equity of 13.24%. The firm had revenue of $222.20 million for the quarter, compared to analyst estimates of $216.37 million. During the same period last year, the firm earned $0.52 earnings per share. Equities analysts expect that California Water Service Group will post 3.15 earnings per share for the current fiscal year.

California Water Service Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Monday, February 10th were issued a dividend of $0.30 per share. This is a boost from California Water Service Group’s previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend was Monday, February 10th. California Water Service Group’s payout ratio is currently 36.70%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Wells Fargo & Company raised California Water Service Group from an “equal weight” rating to an “overweight” rating and dropped their price target for the company from $56.00 to $52.00 in a report on Tuesday, January 7th. Bank of America assumed 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. Finally, StockNews.com raised California Water Service Group from a “sell” rating to a “hold” rating in a report on Saturday, February 8th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average 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.