California Water Service Group Holding (CWT) Shares Bought by BNP Paribas Arbitrage SA

BNP Paribas Arbitrage SA boosted its stake in shares of California Water Service Group Holding (NYSE:CWT) by 47.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,402 shares of the utilities provider’s stock after acquiring an additional 5,907 shares during the period. BNP Paribas Arbitrage SA’s holdings in California Water Service Group Holding were worth $677,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. LS Investment Advisors LLC grew its stake in California Water Service Group Holding by 62.5% during the first quarter. LS Investment Advisors LLC now owns 2,782 shares of the utilities provider’s stock valued at $100,000 after acquiring an additional 1,070 shares in the last quarter. Accurate Investment Solutions Inc. grew its stake in California Water Service Group Holding by 0.3% during the second quarter. Accurate Investment Solutions Inc. now owns 2,917 shares of the utilities provider’s stock valued at $107,000 after acquiring an additional 8 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in California Water Service Group Holding during the first quarter valued at $149,000. PNC Financial Services Group Inc. grew its stake in California Water Service Group Holding by 5.2% during the first quarter. PNC Financial Services Group Inc. now owns 4,575 shares of the utilities provider’s stock valued at $164,000 after acquiring an additional 225 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in California Water Service Group Holding during the first quarter valued at $213,000. 68.73% of the stock is owned by institutional investors.

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California Water Service Group Holding (CWT) opened at 38.40 on Tuesday. The company’s 50-day moving average is $37.79 and its 200 day moving average is $36.37. The stock has a market capitalization of $1.84 billion, a PE ratio of 32.00 and a beta of 0.70. California Water Service Group Holding has a 1-year low of $29.25 and a 1-year high of $39.65.

California Water Service Group Holding (NYSE:CWT) last issued its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.39 EPS for the quarter, topping the consensus estimate of $0.31 by $0.08. The company had revenue of $171.10 million during the quarter, compared to analyst estimates of $162.23 million. California Water Service Group Holding had a net margin of 9.17% and a return on equity of 8.78%. The firm’s revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 EPS. Equities analysts predict that California Water Service Group Holding will post $1.31 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, August 18th. Investors of record on Monday, August 7th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend was Thursday, August 3rd. California Water Service Group Holding’s payout ratio is presently 60.00%.

In related news, VP Lynne P. Mcghee sold 1,605 shares of the business’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $37.61, for a total value of $60,364.05. Following the completion of the sale, the vice president now owns 19,660 shares of the company’s stock, valued at approximately $739,412.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.00% of the stock is currently owned by insiders.

CWT has been the subject of several research analyst reports. Zacks Investment Research raised shares of California Water Service Group Holding from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Friday, July 28th. BidaskClub raised shares of California Water Service Group Holding from a “hold” rating to a “buy” rating in a research note on Friday, June 9th. Robert W. Baird reaffirmed a “hold” rating and set a $35.00 target price on shares of California Water Service Group Holding in a research note on Sunday, September 3rd. Finally, US Capital Advisors reaffirmed a “hold” rating on shares of California Water Service Group Holding in a research note on Monday, July 17th. Two analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. California Water Service Group Holding currently has an average rating of “Hold” and an average price target of $34.80.

California Water Service Group Holding Profile

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.

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

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