Metropolitan Life Insurance Co. NY Buys 11,679 Shares of California Water Service Group (CWT)

Metropolitan Life Insurance Co. NY lifted its position in California Water Service Group (NYSE:CWT) by 348.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,032 shares of the utilities provider’s stock after buying an additional 11,679 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in California Water Service Group were worth $716,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. CENTRAL TRUST Co lifted its position in California Water Service Group by 100.0% during the fourth quarter. CENTRAL TRUST Co now owns 608 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 304 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in California Water Service Group by 47.5% during the 4th quarter. Advisors Asset Management Inc. now owns 649 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 209 shares during the period. Parkside Financial Bank & Trust lifted its stake in California Water Service Group by 1,700.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 756 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 714 shares during the period. FMR LLC acquired a new stake in California Water Service Group during the 3rd quarter valued at approximately $110,000. Finally, Strs Ohio lifted its stake in California Water Service Group by 333.3% during the 4th quarter. Strs Ohio now owns 2,600 shares of the utilities provider’s stock valued at $123,000 after acquiring an additional 2,000 shares during the period. Institutional investors own 73.41% of the company’s stock.

NYSE CWT traded up $0.43 on Wednesday, hitting $49.95. 251,141 shares of the company’s stock traded hands, compared to its average volume of 201,416. The company has a current ratio of 0.59, a quick ratio of 0.57 and a debt-to-equity ratio of 0.97. California Water Service Group has a 1-year low of $37.70 and a 1-year high of $55.05. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of 36.73, a PEG ratio of 5.12 and a beta of 0.40.

California Water Service Group (NYSE:CWT) last posted its earnings results on Thursday, February 28th. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.04. California Water Service Group had a net margin of 8.71% and a return on equity of 8.58%. The firm had revenue of $167.42 million during the quarter, compared to analysts’ expectations of $163.45 million. During the same period in the previous year, the business posted $0.31 EPS. The business’s revenue was up 1.9% compared to the same quarter last year. Analysts forecast that California Water Service Group will post 1.4 EPS for the current year.

In related news, insider Elissa Y. Ouyang sold 1,000 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $54.03, for a total transaction of $54,030.00. Following the completion of the sale, the insider now directly owns 3,680 shares of the company’s stock, valued at $198,830.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.00% of the stock is owned by company insiders.

Several analysts have commented on the stock. ValuEngine cut shares of California Water Service Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 11th. Wells Fargo & Co cut shares of California Water Service Group from a “market perform” rating to an “underperform” rating and set a $50.00 price objective for the company. in a research note on Tuesday, March 26th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded shares of California Water Service Group from a “sell” rating to a “hold” rating in a research note on Tuesday, February 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $48.50.

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California Water Service Group Profile

California Water Service Group, through its subsidiaries, provides water utility and other related services in California, Washington, New Mexico, and Hawaii. It 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.

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Institutional Ownership by Quarter for California Water Service Group (NYSE:CWT)

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