Algert Global LLC Grows Stock Position in California Water Service Group (NYSE:CWT)

Algert Global LLC raised its holdings in California Water Service Group (NYSE:CWT) by 70.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 39,207 shares of the utilities provider’s stock after acquiring an additional 16,146 shares during the period. Algert Global LLC’s holdings in California Water Service Group were worth $1,777,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Barclays PLC grew its holdings in California Water Service Group by 135.8% in the third quarter. Barclays PLC now owns 119,645 shares of the utilities provider’s stock valued at $6,486,000 after purchasing an additional 68,914 shares during the period. Franklin Resources Inc. grew its stake in shares of California Water Service Group by 117.0% during the 3rd quarter. Franklin Resources Inc. now owns 58,258 shares of the utilities provider’s stock valued at $3,100,000 after buying an additional 31,412 shares during the period. JPMorgan Chase & Co. raised its position in shares of California Water Service Group by 55.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 161,661 shares of the utilities provider’s stock worth $8,765,000 after buying an additional 57,811 shares during the period. Ballentine Partners LLC purchased a new position in shares of California Water Service Group in the 4th quarter worth $234,000. Finally, SG Americas Securities LLC grew its position in California Water Service Group by 205.5% during the fourth quarter. SG Americas Securities LLC now owns 31,205 shares of the utilities provider’s stock valued at $1,415,000 after acquiring an additional 20,991 shares during the period. Institutional investors and hedge funds own 82.78% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on CWT. StockNews.com upgraded California Water Service Group from a “sell” rating to a “hold” rating in a report on Friday, April 11th. Wells Fargo & Company boosted their price objective on shares of California Water Service Group from $54.00 to $59.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. Finally, Seaport Res Ptn raised shares of California Water Service Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 11th.

California Water Service Group Stock Up 0.1 %

NYSE CWT opened at $48.56 on Friday. 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 fifty-two week low of $41.64 and a fifty-two week high of $56.25. The business has a 50 day moving average price of $48.48 and a two-hundred day moving average price of $47.69. The stock has a market cap of $2.89 billion, a PE ratio of 14.03, a P/E/G ratio of 0.46 and a beta of 0.70.

California Water Service Group (NYSE:CWT) last released its quarterly earnings results on Thursday, May 1st. The utilities provider reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. California Water Service Group had a net margin of 19.56% and a return on equity of 13.24%. The business had revenue of $203.97 million during the quarter, compared to analyst estimates of $194.80 million. During the same period last year, the business earned $1.21 EPS. The business’s revenue was down 24.7% on a year-over-year basis. As a group, sell-side analysts predict that California Water Service Group will post 3.15 EPS for the current fiscal year.

California Water Service Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 12th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend is Monday, May 12th. California Water Service Group’s dividend payout ratio is currently 52.63%.

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.