California Water Service Group (CWT) Shares Bought by GHP Investment Advisors Inc.

GHP Investment Advisors Inc. raised its stake in California Water Service Group (NYSE:CWT) by 1.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 72,122 shares of the utilities provider’s stock after buying an additional 1,146 shares during the period. GHP Investment Advisors Inc. owned 0.15% of California Water Service Group worth $2,586,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Trexquant Investment LP acquired a new stake in California Water Service Group during the first quarter valued at $330,000. State of Tennessee Treasury Department increased its stake in California Water Service Group by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 45,974 shares of the utilities provider’s stock valued at $1,648,000 after buying an additional 6,938 shares during the period. Parametric Portfolio Associates LLC increased its stake in California Water Service Group by 107.0% in the first quarter. Parametric Portfolio Associates LLC now owns 284,250 shares of the utilities provider’s stock valued at $10,190,000 after buying an additional 146,902 shares during the period. TD Asset Management Inc. increased its stake in California Water Service Group by 0.4% in the first quarter. TD Asset Management Inc. now owns 37,747 shares of the utilities provider’s stock valued at $1,353,000 after buying an additional 157 shares during the period. Finally, Karp Capital Management Corp acquired a new stake in California Water Service Group during the first quarter valued at $1,985,000. Institutional investors and hedge funds own 68.63% of the company’s stock.

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

California Water Service Group (NYSE:CWT) traded up 1.79% during mid-day trading on Friday, hitting $34.20. The stock had a trading volume of 194,093 shares. California Water Service Group has a one year low of $27.86 and a one year high of $39.40. The firm’s 50-day moving average price is $35.63 and its 200 day moving average price is $34.61. The company has a market cap of $1.64 billion, a PE ratio of 32.57 and a beta of 0.65.

California Water Service Group (NYSE:CWT) last announced its quarterly earnings results on Thursday, April 27th. The utilities provider reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by $0.03. California Water Service Group had a net margin of 7.05% and a return on equity of 6.56%. The business had revenue of $122.04 million during the quarter, compared to analyst estimates of $128.30 million. During the same period last year, the company earned ($0.02) EPS. The business’s revenue for the quarter was up .3% on a year-over-year basis. On average, equities research analysts anticipate that California Water Service Group will post $1.30 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 19th. Stockholders of record on Monday, May 8th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.14%. The ex-dividend date is Thursday, May 4th. California Water Service Group’s dividend payout ratio (DPR) is presently 81.82%.

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Several research firms have recently weighed in on CWT. Gabelli downgraded California Water Service Group from a “buy” rating to a “hold” rating in a research report on Friday, April 28th. Zacks Investment Research downgraded California Water Service Group from a “hold” rating to a “sell” rating in a research report on Friday, April 28th. Finally, Wells Fargo & Co downgraded California Water Service Group from a “market perform” rating to an “underperform” rating in a research report on Friday, February 24th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $33.20.

In other news, VP Michael B. Luu sold 2,400 shares of the company’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $34.47, for a total value of $82,728.00. Following the transaction, the vice president now owns 8,532 shares of the company’s stock, valued at approximately $294,098.04. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP David B. Healey sold 1,000 shares of the company’s stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $35.70, for a total value of $35,700.00. Following the completion of the transaction, the vice president now directly owns 14,780 shares in the company, valued at approximately $527,646. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

About California Water Service Group

California Water Service Group is a holding company. The Company operates through the supply and distribution of water and providing water-related utility services segment. The Company, through its subsidiaries, provides non-regulated services and non-regulated services to private companies and municipalities.

12 Month Chart for NYSE:CWT

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