Dimensional Fund Advisors LP Buys 25,711 Shares of California Water Service Group (NYSE:CWT)

Dimensional Fund Advisors LP increased its stake in shares of California Water Service Group (NYSE:CWT) by 2.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,288,740 shares of the utilities provider’s stock after purchasing an additional 25,711 shares during the period. Dimensional Fund Advisors LP owned approximately 2.23% of California Water Service Group worth $62,491,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. American Century Companies Inc. lifted its holdings in California Water Service Group by 4.0% during the second quarter. American Century Companies Inc. now owns 57,447 shares of the utilities provider’s stock worth $2,786,000 after acquiring an additional 2,216 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in shares of California Water Service Group by 10.8% during the second quarter. Daiwa Securities Group Inc. now owns 7,837 shares of the utilities provider’s stock worth $380,000 after buying an additional 761 shares during the period. Choreo LLC bought a new position in shares of California Water Service Group during the second quarter worth about $231,000. Quest Partners LLC raised its position in California Water Service Group by 21,048.1% in the 2nd quarter. Quest Partners LLC now owns 5,710 shares of the utilities provider’s stock valued at $277,000 after buying an additional 5,683 shares during the last quarter. Finally, Arizona State Retirement System boosted its position in California Water Service Group by 1.8% during the 2nd quarter. Arizona State Retirement System now owns 16,147 shares of the utilities provider’s stock worth $783,000 after acquiring an additional 287 shares during the last quarter. Institutional investors own 82.78% of the company’s stock.

California Water Service Group Stock Performance

NYSE:CWT opened at $53.50 on Friday. The stock has a 50 day simple moving average of $53.81 and a 200 day simple moving average of $50.35. The stock has a market cap of $3.09 billion, a P/E ratio of 21.40 and a beta of 0.49. California Water Service Group has a 1-year low of $43.50 and a 1-year high of $56.25. The company has a current ratio of 0.52, a quick ratio of 0.49 and a debt-to-equity ratio of 0.68.

California Water Service Group (NYSE:CWT) last announced its earnings results on Thursday, August 1st. The utilities provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.28. The firm had revenue of $244.30 million for the quarter, compared to analyst estimates of $216.25 million. California Water Service Group had a net margin of 17.78% and a return on equity of 11.94%. The business’s revenue was up 25.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.17 EPS. Research analysts anticipate that California Water Service Group will post 3.33 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 23rd. Shareholders of record on Monday, August 12th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.12 annualized dividend and a yield of 2.09%. California Water Service Group’s dividend payout ratio is currently 44.80%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company raised California Water Service Group from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $50.00 to $57.00 in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, California Water Service Group presently has a consensus rating of “Hold” and a consensus price target of $53.67.

Insider Buying and Selling

In related news, Director Thomas M. Krummel sold 555 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $52.99, for a total transaction of $29,409.45. Following the sale, the director now owns 23,616 shares of the company’s stock, valued at approximately $1,251,411.84. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Thomas M. Krummel sold 1,654 shares of the stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $50.07, for a total value of $82,815.78. Following the completion of the sale, the director now owns 24,171 shares of the company’s stock, valued at $1,210,241.97. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Thomas M. Krummel sold 555 shares of California Water Service Group stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $52.99, for a total value of $29,409.45. Following the completion of the transaction, the director now directly owns 23,616 shares in the company, valued at $1,251,411.84. The disclosure for this sale can be found here. Insiders sold a total of 3,874 shares of company stock worth $202,318 in the last ninety days. 0.73% of the stock is owned by insiders.

About California Water Service Group

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.