123,523 Shares in California Water Service Group $CWT Purchased by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. acquired a new position in shares of California Water Service Group (NYSE:CWT) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 123,523 shares of the utilities provider’s stock, valued at approximately $6,009,000. Meiji Yasuda Asset Management Co Ltd. owned about 0.20% of California Water Service Group at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Danske Bank A S bought a new position in shares of California Water Service Group in the 3rd quarter worth $28,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in California Water Service Group in the second quarter valued at about $33,000. Versant Capital Management Inc lifted its stake in California Water Service Group by 228.2% in the second quarter. Versant Capital Management Inc now owns 676 shares of the utilities provider’s stock valued at $33,000 after buying an additional 470 shares during the period. EverSource Wealth Advisors LLC raised its holdings in California Water Service Group by 109.9% in the second quarter. EverSource Wealth Advisors LLC now owns 697 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 365 shares during the period. Finally, Bessemer Group Inc. raised its stake in California Water Service Group by 67.9% during the 1st quarter. Bessemer Group Inc. now owns 744 shares of the utilities provider’s stock worth $34,000 after buying an additional 301 shares during the period. 82.78% of the stock is currently owned by institutional investors and hedge funds.

California Water Service Group Trading Up 0.1%

Shares of NYSE:CWT opened at $49.62 on Monday. California Water Service Group has a 12-month low of $41.29 and a 12-month high of $53.82. The stock has a market cap of $3.07 billion, a PE ratio of 22.35, a P/E/G ratio of 1.76 and a beta of 0.50. The business has a 50 day moving average of $49.36 and a 200-day moving average of $46.53. The company has a quick ratio of 0.67, a current ratio of 0.70 and a debt-to-equity ratio of 0.81.

California Water Service Group (NYSE:CWT) last posted its earnings results on Thursday, July 30th. The utilities provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.80 by $0.13. The company had revenue of $308.60 million for the quarter, compared to the consensus estimate of $283.50 million. California Water Service Group had a return on equity of 7.74% and a net margin of 12.63%.The firm’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.71 earnings per share. As a group, equities research analysts forecast that California Water Service Group will post 2.57 earnings per share for the current year.

California Water Service Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Monday, August 10th were issued a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Monday, August 10th. California Water Service Group’s dividend payout ratio is currently 60.36%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Weiss Ratings raised California Water Service Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 4th. Seaport Research Partners reaffirmed a “buy” rating and set a $53.00 price target on shares of California Water Service Group in a report on Wednesday, August 12th. Robert W. Baird set a $54.00 price objective on shares of California Water Service Group in a research report on Friday, May 1st. Finally, Wall Street Zen upgraded shares of California Water Service Group from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, California Water Service Group has a consensus rating of “Hold” and a consensus price target of $54.00.

Insider Buying and Selling at California Water Service Group

In other California Water Service Group news, Director Lester A. Snow sold 1,100 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $44.00, for a total transaction of $48,400.00. Following the transaction, the director owned 18,316 shares in the company, valued at $805,904. This trade represents a 5.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas M. Krummel sold 3,700 shares of California Water Service Group stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $50.37, for a total value of $186,369.00. Following the sale, the director directly owned 20,104 shares of the company’s stock, valued at $1,012,638.48. This represents a 15.54% decrease in their position. The SEC filing for this sale provides additional information. 0.78% of the stock is owned by company insiders.

About California Water Service Group

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.