California Water Service Group (NYSE:CWT) Shares Acquired by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in California Water Service Group (NYSE:CWT) by 2.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 214,299 shares of the utilities provider’s stock after purchasing an additional 6,081 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in California Water Service Group were worth $11,619,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in CWT. Cetera Advisors LLC bought a new stake in shares of California Water Service Group in the 1st quarter worth $272,000. GAMMA Investing LLC raised its position in 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 in the last quarter. CWM LLC boosted its position in shares of California Water Service Group by 90.8% during the 2nd quarter. CWM LLC now owns 1,349 shares of the utilities provider’s stock valued at $65,000 after purchasing an additional 642 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of California Water Service Group during the 2nd quarter valued at about $568,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of California Water Service Group in the 2nd quarter worth approximately $257,000. 82.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of California Water Service Group from a “sell” rating to a “hold” rating in a report on Thursday. Three investment 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, California Water Service Group currently has a consensus rating of “Hold” and an average price target of $53.67.

Insider Activity

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

California Water Service Group Price Performance

NYSE CWT opened at $48.70 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 0.64. California Water Service Group has a 1 year low of $43.50 and a 1 year high of $56.25. The company has a market cap of $2.90 billion, a PE ratio of 14.08 and a beta of 0.50. The stock’s 50-day moving average price is $51.71 and its two-hundred day moving average price is $51.70.

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

California Water Service Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Tuesday, November 12th were given a $0.28 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $1.12 annualized dividend and a dividend yield of 2.30%. California Water Service Group’s dividend payout ratio (DPR) is presently 32.37%.

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.