Victory Capital Management Inc. Sells 87,621 Shares of California Water Service Group (NYSE:CWT)

Victory Capital Management Inc. trimmed its position in shares of California Water Service Group (NYSE:CWT) by 30.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 201,471 shares of the utilities provider’s stock after selling 87,621 shares during the period. Victory Capital Management Inc.’s holdings in California Water Service Group were worth $10,924,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Blue Trust Inc. boosted its holdings in shares of California Water Service Group by 255.6% in the third quarter. Blue Trust Inc. now owns 505 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 363 shares during the period. GAMMA Investing LLC boosted its holdings in shares of California Water Service Group by 109.9% in the second quarter. GAMMA Investing LLC now owns 823 shares of the utilities provider’s stock worth $40,000 after acquiring an additional 431 shares during the period. CWM LLC boosted its holdings in shares of California Water Service Group by 90.8% in the second quarter. CWM LLC now owns 1,349 shares of the utilities provider’s stock worth $65,000 after acquiring an additional 642 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of California Water Service Group in the second quarter worth $85,000. Finally, nVerses Capital LLC bought a new position in shares of California Water Service Group in the third quarter worth $119,000. 82.78% of the stock is owned by institutional investors.

Insider Activity at California Water Service Group

In other California Water Service Group news, Director Thomas M. Krummel sold 555 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $55.09, for a total transaction of $30,574.95. Following the sale, the director now owns 21,951 shares in the company, valued at $1,209,280.59. This trade represents a 2.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.73% of the stock is owned by corporate insiders.

California Water Service Group Price Performance

NYSE:CWT opened at $51.08 on Thursday. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of 14.76 and a beta of 0.49. California Water Service Group has a 52-week low of $43.50 and a 52-week high of $56.25. The stock has a fifty day moving average of $52.54 and a 200 day moving average of $51.87. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.60 and a current ratio of 0.64.

California Water Service Group (NYSE:CWT) last posted its quarterly earnings data on Thursday, October 31st. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.02). The business had revenue of $299.60 million for the quarter, compared to the consensus estimate of $289.55 million. California Water Service Group had a net margin of 19.56% and a return on equity of 13.24%. California Water Service Group’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.60 EPS. On average, research analysts expect that California Water Service Group will post 3.29 EPS for the current fiscal year.

California Water Service Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Tuesday, November 12th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.19%. The ex-dividend date is Tuesday, November 12th. California Water Service Group’s dividend payout ratio is 32.37%.

Analyst Upgrades and Downgrades

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

California Water Service Group 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.