California Water Service Group $CWT Shares Purchased by Nuance Investments LLC

Nuance Investments LLC boosted its position in shares of California Water Service Group (NYSE:CWT) by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,825,390 shares of the utilities provider’s stock after purchasing an additional 60,931 shares during the quarter. California Water Service Group accounts for about 8.7% of Nuance Investments LLC’s investment portfolio, making the stock its 2nd biggest holding. Nuance Investments LLC owned about 3.06% of California Water Service Group worth $79,094,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Danske Bank A S acquired a new position in California Water Service Group during the third quarter valued at approximately $28,000. EverSource Wealth Advisors LLC grew its holdings in California Water Service Group by 109.9% during the second quarter. EverSource Wealth Advisors LLC now owns 697 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 365 shares during the period. Hantz Financial Services Inc. grew its holdings in California Water Service Group by 291.1% during the third quarter. Hantz Financial Services Inc. now owns 880 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 655 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in California Water Service Group during the third quarter valued at approximately $43,000. Finally, Advisory Services Network LLC acquired a new position in California Water Service Group during the third quarter valued at approximately $44,000. Institutional investors and hedge funds own 82.78% of the company’s stock.

California Water Service Group Stock Performance

Shares of CWT stock opened at $45.89 on Friday. The company’s fifty day simple moving average is $44.80 and its 200-day simple moving average is $44.66. The company has a quick ratio of 0.65, a current ratio of 0.69 and a debt-to-equity ratio of 0.87. The firm has a market cap of $2.75 billion, a PE ratio of 22.94, a P/E/G ratio of 1.66 and a beta of 0.53. California Water Service Group has a 12 month low of $41.29 and a 12 month high of $50.44.

California Water Service Group (NYSE:CWT) last announced its quarterly earnings data on Thursday, April 30th. The utilities provider reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.18). The business had revenue of $214.57 million during the quarter, compared to the consensus estimate of $210.27 million. California Water Service Group had a return on equity of 7.06% and a net margin of 11.77%.The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.22 EPS. Equities research analysts expect that California Water Service Group will post 2.56 EPS for the current fiscal year.

California Water Service Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 11th were given a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Monday, May 11th. California Water Service Group’s payout ratio is currently 67.00%.

Insider Buying and Selling at California Water Service Group

In other news, VP Michael S. Mares, Jr. sold 3,892 shares of the business’s stock in a transaction on Friday, March 20th. The shares were sold at an average price of $44.00, for a total value of $171,248.00. Following the sale, the vice president owned 8,525 shares of the company’s stock, valued at $375,100. The trade was a 31.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Thomas M. Krummel sold 3,700 shares of the business’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $43.30, for a total transaction of $160,210.00. Following the completion of the sale, the director directly owned 23,805 shares in the company, valued at approximately $1,030,756.50. This represents a 13.45% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 9,432 shares of company stock worth $412,810. Company insiders own 0.78% of the company’s stock.

Wall Street Analysts Forecast Growth

CWT has been the subject of a number of analyst reports. Weiss Ratings cut shares of California Water Service Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, May 28th. Robert W. Baird set a $54.00 price objective on shares of California Water Service Group in a report on Friday, May 1st. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $54.50.

California Water Service Group Company Profile

California Water Service Group (NYSE: CWT) is a publicly traded holding company that provides regulated water utility services through its subsidiaries. The company delivers safe, reliable drinking water and wastewater management to residential, commercial, industrial and municipal customers across California, Hawaii and New Mexico. Its principal operating units include California Water Service, New Mexico Water Service and Hawaii Water Service, each responsible for end?to?end water supply operations—from source development and treatment to distribution and customer service.

Founded in 1926 as the California Water Service Company, the group has grown to become one of the largest investor?owned water utilities in the United States by customer count.