Bank of Montreal Can Trims Position in California Water Service Group (NYSE:CWT)

Bank of Montreal Can decreased its position in shares of California Water Service Group (NYSE:CWT) by 2.8% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 33,769 shares of the utilities provider’s stock after selling 965 shares during the quarter. Bank of Montreal Can’s holdings in California Water Service Group were worth $1,806,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CWT. Dimensional Fund Advisors LP raised its position in shares of California Water Service Group by 2.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,288,740 shares of the utilities provider’s stock valued at $62,491,000 after buying an additional 25,711 shares during the last quarter. Wulff Hansen & CO. grew its stake in California Water Service Group by 4,565.4% during the second quarter. Wulff Hansen & CO. now owns 1,053,688 shares of the utilities provider’s stock valued at $51,093,000 after acquiring an additional 1,031,103 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in California Water Service Group by 7.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 710,958 shares of the utilities provider’s stock valued at $38,548,000 after acquiring an additional 48,055 shares during the last quarter. Deprince Race & Zollo Inc. lifted its stake in California Water Service Group by 2.8% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 693,025 shares of the utilities provider’s stock worth $33,605,000 after purchasing an additional 19,118 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of California Water Service Group by 1.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 572,351 shares of the utilities provider’s stock valued at $27,753,000 after purchasing an additional 10,819 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 $48.68 on Friday. The company has a market cap of $2.89 billion, a P/E ratio of 14.07 and a beta of 0.50. The business’s 50 day moving average price is $51.71 and its 200-day moving average price is $51.71. California Water Service Group has a fifty-two week low of $43.50 and a fifty-two week high of $56.25. 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 released its earnings results 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). 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 the consensus estimate of $289.55 million. During the same quarter last year, the business posted $0.60 EPS. California Water Service Group’s revenue was up 17.5% compared to the same quarter last year. Sell-side analysts predict that California Water Service Group will post 3.29 earnings per share for the current year.

California Water Service Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Tuesday, November 12th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend was Tuesday, November 12th. California Water Service Group’s payout ratio is currently 32.37%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised California Water Service Group from a “sell” rating to a “hold” rating in a report on Thursday. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $53.67.

Insider Buying and Selling at California Water Service Group

In other news, VP Michael B. Luu sold 985 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $51.50, for a total transaction of $50,727.50. Following the transaction, the vice president now directly owns 20,354 shares of the company’s stock, valued at approximately $1,048,231. This trade represents a 4.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.73% of the stock is currently owned by corporate insiders.

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.