XTX Topco Ltd Purchases New Position in California Water Service Group (NYSE:CWT)

XTX Topco Ltd acquired a new position in shares of California Water Service Group (NYSE:CWT) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,986 shares of the utilities provider’s stock, valued at approximately $290,000.

Several other institutional investors and hedge funds also recently modified their holdings of CWT. GAMMA Investing LLC raised its holdings in shares of California Water Service Group by 109.9% during the 2nd quarter. GAMMA Investing LLC now owns 823 shares of the utilities provider’s stock valued at $40,000 after buying an additional 431 shares during the period. TFO Wealth Partners LLC grew its position in California Water Service Group by 57,000.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,142 shares of the utilities provider’s stock valued at $59,000 after acquiring an additional 1,140 shares in the last quarter. CWM LLC raised its stake in shares of California Water Service Group by 90.8% during the second quarter. CWM LLC now owns 1,349 shares of the utilities provider’s stock valued at $65,000 after purchasing an additional 642 shares during the period. Rothschild Investment LLC acquired a new position in shares of California Water Service Group during the second quarter worth $127,000. Finally, Abacus Wealth Partners LLC purchased a new position in shares of California Water Service Group in the first quarter valued at $203,000. Hedge funds and other institutional investors own 82.78% of the company’s stock.

Analyst Ratings Changes

Separately, Wells Fargo & Company raised shares of California Water Service Group from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $50.00 to $57.00 in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $53.67.

Insider Buying and Selling at California Water Service Group

In other news, Director Thomas M. Krummel sold 555 shares of California Water Service Group stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $52.99, for a total value of $29,409.45. Following the completion of the transaction, the director now owns 23,616 shares in the company, valued at approximately $1,251,411.84. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Thomas M. Krummel sold 1,654 shares of California Water Service Group stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $50.07, for a total value of $82,815.78. Following the completion of the transaction, the director now directly owns 24,171 shares of the company’s stock, valued at approximately $1,210,241.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas M. Krummel sold 555 shares of the stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $52.99, for a total transaction of $29,409.45. Following the sale, the director now owns 23,616 shares in the company, valued at approximately $1,251,411.84. The disclosure for this sale can be found here. Insiders have sold 3,874 shares of company stock worth $202,318 over the last quarter. 0.73% of the stock is owned by corporate insiders.

California Water Service Group Stock Performance

Shares of CWT opened at $53.50 on Friday. California Water Service Group has a 52-week low of $43.50 and a 52-week high of $56.25. The company has a quick ratio of 0.49, a current ratio of 0.52 and a debt-to-equity ratio of 0.68. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of 21.40 and a beta of 0.49. The business’s 50 day moving average is $53.81 and its two-hundred day moving average is $50.35.

California Water Service Group (NYSE:CWT) last posted its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.28. The firm had revenue of $244.30 million for the quarter, compared to the consensus estimate of $216.25 million. California Water Service Group had a net margin of 17.78% and a return on equity of 11.94%. The firm’s revenue was up 25.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.17 EPS. Analysts forecast that California Water Service Group will post 3.33 EPS for the current fiscal year.

California Water Service Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 12th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend was Monday, August 12th. California Water Service Group’s dividend payout ratio is currently 44.80%.

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.