California Water Service Group $CWT Shares Sold by Susquehanna International Group LLP

Susquehanna International Group LLP lessened its stake in shares of California Water Service Group (NYSE:CWT) by 44.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,712 shares of the utilities provider’s stock after selling 12,600 shares during the quarter. Susquehanna International Group LLP’s holdings in California Water Service Group were worth $764,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. California State Teachers Retirement System raised its position in California Water Service Group by 0.5% in the 2nd quarter. California State Teachers Retirement System now owns 54,416 shares of the utilities provider’s stock valued at $2,475,000 after purchasing an additional 278 shares during the last quarter. Bessemer Group Inc. grew its position 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 purchasing an additional 301 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake 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 valued at $32,000 after purchasing an additional 365 shares during the period. New York State Teachers Retirement System increased its stake in California Water Service Group by 0.6% in the fourth quarter. New York State Teachers Retirement System now owns 63,002 shares of the utilities provider’s stock valued at $2,730,000 after purchasing an additional 400 shares during the period. Finally, D.A. Davidson & CO. raised its holdings in shares of California Water Service Group by 3.9% in the first quarter. D.A. Davidson & CO. now owns 10,894 shares of the utilities provider’s stock valued at $494,000 after buying an additional 411 shares during the last quarter. Institutional investors and hedge funds own 82.78% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Weiss Ratings upgraded shares of California Water Service Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 4th. Seaport Research Partners reissued a “buy” rating and set a $53.00 price target on shares of California Water Service Group in a report on Wednesday, August 12th. Finally, Wall Street Zen upgraded shares of California Water Service Group from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. One analyst has rated the stock with a Hold rating, According to MarketBeat, California Water Service Group currently has an average rating of “Hold” and a consensus target price of $54.00.

California Water Service Group Stock Down 1.2%

CWT opened at $49.89 on Tuesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.70 and a quick ratio of 0.67. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of 22.47, a price-to-earnings-growth ratio of 1.79 and a beta of 0.50. The business has a 50-day moving average of $49.97 and a two-hundred day moving average of $46.77. California Water Service Group has a 12 month low of $41.29 and a 12 month high of $53.82.

California Water Service Group (NYSE:CWT) last announced its quarterly earnings data on Thursday, July 30th. The utilities provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.13. The company had revenue of $308.60 million during the quarter, compared to analysts’ expectations of $283.50 million. California Water Service Group had a net margin of 12.63% and a return on equity of 7.74%. The business’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.71 EPS. On average, research analysts expect that California Water Service Group will post 2.57 earnings per share for the current year.

California Water Service Group Dividend Announcement

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

Insider Buying and Selling

In other news, Director Thomas M. Krummel sold 3,700 shares of the stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $50.37, for a total value of $186,369.00. Following the completion of the sale, the director owned 20,104 shares in the company, valued at approximately $1,012,638.48. This trade represents a 15.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.78% of the stock is owned by company insiders.

California Water Service Group 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.