Geode Capital Management LLC Buys 24,275 Shares of California Water Service Group (NYSE:CWT)

Geode Capital Management LLC increased its stake in shares of California Water Service Group (NYSE:CWT) by 1.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,337,966 shares of the utilities provider’s stock after buying an additional 24,275 shares during the quarter. Geode Capital Management LLC owned 2.25% of California Water Service Group worth $72,559,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Wulff Hansen & CO. boosted its holdings in California Water Service Group by 4,565.4% during the 2nd quarter. Wulff Hansen & CO. now owns 1,053,688 shares of the utilities provider’s stock worth $51,093,000 after acquiring an additional 1,031,103 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of California Water Service Group by 79.7% during the third quarter. Assenagon Asset Management S.A. now owns 252,833 shares of the utilities provider’s stock valued at $13,709,000 after purchasing an additional 112,118 shares in the last quarter. Barclays PLC boosted its holdings in California Water Service Group by 135.8% during the third quarter. Barclays PLC now owns 119,645 shares of the utilities provider’s stock worth $6,486,000 after purchasing an additional 68,914 shares during the last quarter. Arjuna Capital bought a new stake in California Water Service Group in the 3rd quarter worth about $3,724,000. Finally, Marshall Wace LLP grew its position in California Water Service Group by 354.9% in 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 in the last quarter. Institutional investors own 82.78% of the company’s stock.

Insider Activity at California Water Service Group

In related news, VP Michael B. Luu sold 985 shares of the 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 sale, the vice president now 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 document filed with the SEC, which is accessible through this hyperlink. 0.73% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CWT. Bank of America assumed coverage on California Water Service Group in a research note on Wednesday, December 11th. They issued a “buy” rating and a $57.00 target price on the stock. StockNews.com cut California Water Service Group from a “hold” rating to a “sell” rating in a research report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, California Water Service Group has an average rating of “Hold” and an average target price of $54.50.

California Water Service Group Stock Up 0.2 %

California Water Service Group stock opened at $46.00 on Friday. The firm has a 50 day moving average price of $50.84 and a 200-day moving average price of $51.56. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 0.64. California Water Service Group has a twelve month low of $43.50 and a twelve month high of $56.25. The company has a market capitalization of $2.74 billion, a P/E ratio of 13.29 and a beta of 0.50.

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 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 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 revenue for the quarter was up 17.5% on a year-over-year basis. During the same period last year, the company posted $0.60 earnings per share. As a group, equities analysts predict that California Water Service Group will post 3.29 EPS for the current year.

California Water Service Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Tuesday, November 12th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend was Tuesday, November 12th. California Water Service Group’s dividend payout ratio is currently 32.37%.

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.