Everence Capital Management Inc. Sells 6,930 Shares of California Water Service Group (NYSE:CWT)

Everence Capital Management Inc. trimmed its holdings in shares of California Water Service Group (NYSE:CWT) by 47.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,680 shares of the utilities provider’s stock after selling 6,930 shares during the period. Everence Capital Management Inc.’s holdings in California Water Service Group were worth $348,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of CWT. FMR LLC boosted its stake in California Water Service Group by 70.5% during the third quarter. FMR LLC now owns 63,625 shares of the utilities provider’s stock worth $3,450,000 after acquiring an additional 26,299 shares in the last quarter. Quest Partners LLC boosted its position in shares of California Water Service Group by 297.1% during the 3rd quarter. Quest Partners LLC now owns 22,676 shares of the utilities provider’s stock worth $1,229,000 after purchasing an additional 16,966 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of California Water Service Group in the 3rd quarter valued at about $585,000. Charles Schwab Investment Management Inc. increased its position 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 buying an additional 48,055 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in California Water Service Group by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,337,966 shares of the utilities provider’s stock worth $72,559,000 after buying an additional 24,275 shares during the period. Institutional investors and hedge funds own 82.78% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. 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 price objective for the company. StockNews.com lowered shares of California Water Service Group from a “hold” rating to a “sell” rating in a research note on Friday, December 13th. One analyst has rated the stock with a sell rating, two have issued 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 a consensus rating of “Hold” and a consensus price target of $54.50.

Insiders Place Their Bets

In other news, VP Michael B. Luu sold 985 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $51.50, for a total value of $50,727.50. Following the transaction, the vice president now owns 20,354 shares in the company, valued at $1,048,231. The trade was a 4.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.73% of the stock is currently owned by insiders.

California Water Service Group Stock Performance

Shares of California Water Service Group stock opened at $43.84 on Tuesday. The company has a market cap of $2.61 billion, a PE ratio of 12.67 and a beta of 0.52. 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 52 week low of $43.50 and a 52 week high of $56.25. The business has a 50 day moving average price of $49.00 and a 200-day moving average price of $51.36.

California Water Service Group (NYSE:CWT) last issued 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). California Water Service Group had a net margin of 19.56% and a return on equity of 13.24%. The company had revenue of $299.60 million for the quarter, compared to the consensus estimate of $289.55 million. During the same quarter last year, the business posted $0.60 earnings per share. California Water Service Group’s revenue was up 17.5% on a year-over-year basis. Equities analysts anticipate that California Water Service Group will post 3.29 earnings per share for the current fiscal year.

California Water Service Group Dividend Announcement

The company also recently declared 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 annualized dividend and a yield of 2.55%. The ex-dividend date was Tuesday, November 12th. California Water Service Group’s dividend payout ratio (DPR) is presently 32.37%.

California Water Service Group 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.