California Water Service Group Holding (CWT) Position Cut by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its holdings in shares of California Water Service Group Holding (NYSE:CWT) by 2.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 717,847 shares of the utilities provider’s stock after selling 17,942 shares during the quarter. Bank of New York Mellon Corp owned about 1.49% of California Water Service Group Holding worth $26,417,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Bank of America Corp DE increased its stake in California Water Service Group Holding by 36.3% in the 1st quarter. Bank of America Corp DE now owns 354,722 shares of the utilities provider’s stock worth $12,717,000 after acquiring an additional 94,471 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of California Water Service Group Holding by 4.3% during the 1st quarter. Principal Financial Group Inc. now owns 418,991 shares of the utilities provider’s stock valued at $15,021,000 after purchasing an additional 17,427 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of California Water Service Group Holding by 2.8% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 257,775 shares of the utilities provider’s stock valued at $9,242,000 after purchasing an additional 6,923 shares during the last quarter. Comerica Bank increased its position in shares of California Water Service Group Holding by 3.2% during the 1st quarter. Comerica Bank now owns 67,176 shares of the utilities provider’s stock valued at $2,495,000 after purchasing an additional 2,052 shares during the last quarter. Finally, LS Investment Advisors LLC increased its position in shares of California Water Service Group Holding by 62.5% during the 1st quarter. LS Investment Advisors LLC now owns 2,782 shares of the utilities provider’s stock valued at $100,000 after purchasing an additional 1,070 shares during the last quarter. 68.73% of the stock is currently owned by institutional investors.

In other California Water Service Group Holding news, VP Lynne P. Mcghee sold 1,605 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $37.61, for a total transaction of $60,364.05. Following the transaction, the vice president now owns 19,660 shares in the company, valued at approximately $739,412.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

California Water Service Group Holding (CWT) opened at 37.00 on Wednesday. The stock has a market cap of $1.78 billion, a P/E ratio of 30.83 and a beta of 0.70. The firm’s 50-day moving average price is $37.81 and its 200-day moving average price is $36.39. California Water Service Group Holding has a 12 month low of $29.25 and a 12 month high of $39.65.

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

The firm also recently announced a quarterly dividend, which was paid on Friday, August 18th. Shareholders of record on Monday, August 7th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend was Thursday, August 3rd. California Water Service Group Holding’s payout ratio is 60.00%.

CWT has been the topic of several analyst reports. Zacks Investment Research raised California Water Service Group Holding from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research report on Friday, July 28th. Robert W. Baird reiterated a “hold” rating and issued a $35.00 target price on shares of California Water Service Group Holding in a report on Sunday, September 3rd. BidaskClub cut California Water Service Group Holding from a “buy” rating to a “hold” rating in a report on Thursday, June 22nd. Finally, US Capital Advisors reiterated a “hold” rating on shares of California Water Service Group Holding in a report on Monday, July 17th. Two investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $34.80.

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California Water Service Group Holding Company 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.

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

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