California Water Service Group (NYSE:CWT) Shares Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets lifted its stake in shares of California Water Service Group (NYSE:CWT) by 9.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,181 shares of the utilities provider’s stock after acquiring an additional 2,316 shares during the period. BNP Paribas Financial Markets’ holdings in California Water Service Group were worth $1,474,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Dimensional Fund Advisors LP raised its stake in 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 worth $62,491,000 after purchasing an additional 25,711 shares during the period. Wulff Hansen & CO. grew its position 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 during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of 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 purchasing an additional 48,055 shares in the last quarter. Deprince Race & Zollo Inc. grew its holdings in shares of California Water Service Group by 2.8% during 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 during the period. Finally, Bank of New York Mellon Corp increased its position in 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 worth $27,753,000 after purchasing an additional 10,819 shares in the last quarter. 82.78% of the stock is owned by institutional investors and hedge funds.

California Water Service Group Trading Down 0.8 %

NYSE CWT opened at $48.70 on Monday. The company has a market capitalization of $2.90 billion, a price-to-earnings ratio of 14.08 and a beta of 0.50. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.64 and a quick ratio of 0.60. California Water Service Group has a 12 month low of $43.50 and a 12 month high of $56.25. The company’s fifty day moving average price is $51.71 and its two-hundred day moving average price is $51.69.

California Water Service Group (NYSE:CWT) last announced 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 firm had revenue of $299.60 million for the quarter, compared to analyst estimates of $289.55 million. California Water Service Group had a net margin of 19.56% and a return on equity of 13.24%. The company’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.60 EPS. As a group, research analysts predict that California Water Service Group will post 3.29 earnings per share for the current fiscal year.

California Water Service Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Tuesday, November 12th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend 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%.

Insiders Place Their Bets

In other news, VP Michael B. Luu sold 985 shares of the company’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 value of $50,727.50. Following the completion of the sale, the vice president now directly owns 20,354 shares of the company’s stock, valued at approximately $1,048,231. This represents a 4.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.73% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, StockNews.com raised shares of California Water Service Group from a “sell” rating to a “hold” rating in a research report on Thursday. Three 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 has a consensus rating of “Hold” and a consensus price target 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.