Fmr LLC Has $139,000 Holdings in California Water Service Group (CWT)

Fmr LLC raised its stake in shares of California Water Service Group (NYSE:CWT) by 13.1% in the fourth quarter, Holdings Channel reports. The firm owned 2,910 shares of the utilities provider’s stock after buying an additional 338 shares during the period. Fmr LLC’s holdings in California Water Service Group were worth $139,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CWT. CENTRAL TRUST Co boosted its stake in shares of California Water Service Group by 100.0% in the 4th quarter. CENTRAL TRUST Co now owns 608 shares of the utilities provider’s stock worth $29,000 after buying an additional 304 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in shares of California Water Service Group by 47.5% in the 4th quarter. Advisors Asset Management Inc. now owns 649 shares of the utilities provider’s stock worth $31,000 after buying an additional 209 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of California Water Service Group by 1,700.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 756 shares of the utilities provider’s stock worth $36,000 after buying an additional 714 shares during the last quarter. Strs Ohio boosted its stake in shares of California Water Service Group by 333.3% in the 4th quarter. Strs Ohio now owns 2,600 shares of the utilities provider’s stock worth $123,000 after buying an additional 2,000 shares during the last quarter. Finally, Rational Advisors LLC purchased a new position in shares of California Water Service Group in the 4th quarter worth approximately $140,000. Institutional investors and hedge funds own 73.29% of the company’s stock.

In related news, Director Lester A. Snow sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $53.69, for a total value of $53,690.00. Following the transaction, the director now owns 18,195 shares in the company, valued at $976,889.55. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.99% of the stock is owned by insiders.

Shares of NYSE CWT opened at $50.36 on Friday. California Water Service Group has a twelve month low of $38.15 and a twelve month high of $55.05. The company has a market capitalization of $2.42 billion, a PE ratio of 43.79, a price-to-earnings-growth ratio of 3.61 and a beta of 0.35. The company has a current ratio of 0.50, a quick ratio of 0.49 and a debt-to-equity ratio of 1.00.

California Water Service Group (NYSE:CWT) last announced its earnings results on Thursday, April 25th. The utilities provider reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.21). California Water Service Group had a return on equity of 7.76% and a net margin of 8.05%. The business had revenue of $126.10 million during the quarter, compared to analysts’ expectations of $138.86 million. During the same quarter in the previous year, the firm earned ($0.05) EPS. California Water Service Group’s quarterly revenue was down 6.3% on a year-over-year basis. On average, analysts forecast that California Water Service Group will post 1.39 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 6th will be paid a $0.1975 dividend. The ex-dividend date is Friday, May 3rd. This represents a $0.79 dividend on an annualized basis and a dividend yield of 1.57%. California Water Service Group’s payout ratio is presently 58.09%.

CWT has been the topic of a number of research analyst reports. Zacks Investment Research downgraded California Water Service Group from a “hold” rating to a “sell” rating in a research note on Monday, February 11th. ValuEngine upgraded California Water Service Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 12th. Finally, Wells Fargo & Co boosted their target price on California Water Service Group from $45.00 to $49.00 and gave the stock a “market perform” rating in a research note on Monday, March 4th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company 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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