Ballentine Partners LLC bought a new position in shares of California Water Service Group (NYSE:CWT – Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,153 shares of the utilities provider’s stock, valued at approximately $234,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its holdings in shares of California Water Service Group by 79.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 252,833 shares of the utilities provider’s stock worth $13,709,000 after purchasing an additional 112,118 shares in the last quarter. Barclays PLC increased its holdings in shares of California Water Service Group by 135.8% in the third quarter. Barclays PLC now owns 119,645 shares of the utilities provider’s stock valued at $6,486,000 after buying an additional 68,914 shares in the last quarter. Arjuna Capital acquired a new stake in shares of California Water Service Group during the 3rd quarter valued at $3,724,000. Marshall Wace LLP lifted its position in shares of California Water Service Group by 354.9% during the 2nd quarter. Marshall Wace LLP now owns 76,851 shares of the utilities provider’s stock valued at $3,727,000 after acquiring an additional 59,956 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of California Water Service Group by 55.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 161,661 shares of the utilities provider’s stock worth $8,765,000 after acquiring an additional 57,811 shares in the last quarter. 82.78% of the stock is currently owned by institutional investors.
California Water Service Group Price Performance
Shares of CWT opened at $43.00 on Friday. The business’s 50-day moving average is $46.87 and its 200-day moving average is $50.86. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.64 and a quick ratio of 0.60. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of 12.43, a P/E/G ratio of 0.44 and a beta of 0.52. California Water Service Group has a fifty-two week low of $41.64 and a fifty-two week high of $56.25.
California Water Service Group Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Tuesday, November 12th were paid a $0.28 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $1.12 dividend on an annualized basis and a yield of 2.60%. California Water Service Group’s dividend payout ratio (DPR) is currently 32.37%.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on CWT. Bank of America assumed coverage on California Water Service Group in a report on Wednesday, December 11th. They set a “buy” rating and a $57.00 target price for the company. StockNews.com upgraded shares of California Water Service Group from a “sell” rating to a “hold” rating in a report on Wednesday, January 8th. Finally, Wells Fargo & Company upgraded shares of California Water Service Group from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $56.00 to $52.00 in a report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $53.25.
Check Out Our Latest Analysis on CWT
Insiders Place Their Bets
In related 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 completion of the sale, the vice president now owns 20,354 shares of the company’s stock, valued at approximately $1,048,231. The trade was a 4.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.73% of the company’s stock.
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.
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