California Water Service Group (CWT) Holdings Trimmed by Bank of Montreal Can

Bank of Montreal Can decreased its position in California Water Service Group (NYSE:CWT) by 3.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,340 shares of the utilities provider’s stock after selling 769 shares during the period. Bank of Montreal Can’s holdings in California Water Service Group were worth $1,104,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Massey Quick Simon & CO. LLC purchased a new position in California Water Service Group in the first quarter valued at $27,000. Advisors Asset Management Inc. increased its holdings in California Water Service Group by 47.5% in the fourth quarter. Advisors Asset Management Inc. now owns 649 shares of the utilities provider’s stock valued at $31,000 after buying an additional 209 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in California Water Service Group by 1,700.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 756 shares of the utilities provider’s stock valued at $36,000 after buying an additional 714 shares in the last quarter. Pinnacle Bank purchased a new position in California Water Service Group in the fourth quarter valued at $38,000. Finally, Meeder Asset Management Inc. purchased a new position in California Water Service Group in the first quarter valued at $61,000. 72.81% of the stock is owned by institutional investors.

In other news, Director Lester A. Snow sold 1,000 shares of California Water Service Group stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $53.69, for a total value of $53,690.00. Following the sale, the director now owns 18,195 shares in the company, valued at $976,889.55. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.99% of the stock is owned by company insiders.

A number of research analysts have weighed in on CWT shares. Zacks Investment Research cut shares of California Water Service Group from a “hold” rating to a “sell” rating in a report on Monday, February 11th. ValuEngine raised shares of California Water Service Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 12th. Finally, Wells Fargo & Co lifted their price objective on shares of California Water Service Group from $45.00 to $49.00 and gave the company a “market perform” rating in a report on Monday, March 4th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $48.50.

Shares of NYSE CWT opened at $50.75 on Friday. California Water Service Group has a 52-week low of $38.45 and a 52-week high of $55.05. The stock has a market capitalization of $2.44 billion, a PE ratio of 37.32, a P/E/G ratio of 3.64 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 (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.21). California Water Service Group had a net margin of 8.05% and a return on equity of 7.76%. The company had revenue of $126.10 million during the quarter, compared to analyst estimates of $138.86 million. During the same quarter last year, the business earned ($0.05) EPS. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. Research analysts predict that California Water Service Group will post 1.39 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Monday, May 6th were given a $0.1975 dividend. The ex-dividend date was Friday, May 3rd. This represents a $0.79 annualized dividend and a dividend yield of 1.56%. California Water Service Group’s dividend payout ratio (DPR) is 58.09%.

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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.

Further Reading: Percentage Gainers

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

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