Natixis Advisors LLC Boosts Holdings in California Water Service Group (NYSE:CWT)

Natixis Advisors LLC lifted its stake in California Water Service Group (NYSE:CWT) by 6.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,109 shares of the utilities provider’s stock after buying an additional 682 shares during the period. Natixis Advisors LLC’s holdings in California Water Service Group were worth $602,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of CWT. Wulff Hansen & CO. grew its position in shares of California Water Service Group by 4,565.4% in the 2nd quarter. Wulff Hansen & CO. now owns 1,053,688 shares of the utilities provider’s stock valued at $51,093,000 after buying an additional 1,031,103 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in California Water Service Group during the 2nd quarter worth $6,823,000. Arjuna Capital purchased a new position in California Water Service Group during the 3rd quarter worth $3,724,000. Marshall Wace LLP grew its position in California Water Service Group by 354.9% during the 2nd quarter. Marshall Wace LLP now owns 76,851 shares of the utilities provider’s stock worth $3,727,000 after purchasing an additional 59,956 shares during the last quarter. Finally, Millennium Management LLC purchased a new position in California Water Service Group during the 2nd quarter worth $2,761,000. 82.78% of the stock is owned by hedge funds and other institutional investors.

California Water Service Group Stock Up 0.5 %

CWT stock opened at $51.19 on Friday. California Water Service Group has a one year low of $43.50 and a one year high of $56.25. The stock has a market capitalization of $3.04 billion, a PE ratio of 14.79 and a beta of 0.49. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.60 and a current ratio of 0.64. The company has a fifty day moving average of $52.21 and a 200-day moving average of $51.85.

California Water Service Group (NYSE:CWT) last released its earnings results on Thursday, October 31st. The utilities provider reported $1.03 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.02). California Water Service Group had a return on equity of 13.24% and a net margin of 19.56%. The firm had revenue of $299.60 million during the quarter, compared to analyst estimates of $289.55 million. During the same quarter last year, the business posted $0.60 EPS. The firm’s revenue was up 17.5% on a year-over-year basis. As a group, analysts expect that California Water Service Group will post 3.29 EPS for the current year.

California Water Service Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Tuesday, November 12th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend was Tuesday, November 12th. California Water Service Group’s dividend payout ratio (DPR) is presently 32.37%.

Insider Transactions at California Water Service Group

In related news, VP Michael B. Luu sold 985 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $51.50, for a total value of $50,727.50. Following the completion of the sale, the vice president now owns 20,354 shares in the company, valued at $1,048,231. This trade represents a 4.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas M. Krummel sold 555 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $55.09, for a total transaction of $30,574.95. Following the completion of the sale, the director now owns 21,951 shares of the company’s stock, valued at $1,209,280.59. This trade represents a 2.47 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.73% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of California Water Service Group from a “hold” rating to a “sell” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $53.67.

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.