California Water Service Group (NYSE:CWT) Shares Sold by State of Tennessee Treasury Department

State of Tennessee Treasury Department cut its holdings in shares of California Water Service Group (NYSE:CWT) by 5.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,241 shares of the utilities provider’s stock after selling 2,733 shares during the quarter. State of Tennessee Treasury Department owned 0.09% of California Water Service Group worth $1,650,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Accurate Investment Solutions Inc. boosted its holdings in California Water Service Group by 0.3% during the second quarter. Accurate Investment Solutions Inc. now owns 2,917 shares of the utilities provider’s stock worth $107,000 after buying an additional 8 shares in the last quarter. Riverhead Capital Management LLC boosted its holdings in California Water Service Group by 66.4% during the second quarter. Riverhead Capital Management LLC now owns 4,161 shares of the utilities provider’s stock worth $153,000 after buying an additional 1,661 shares in the last quarter. Flinton Capital Management LLC raised its position in California Water Service Group by 60.8% during the second quarter. Flinton Capital Management LLC now owns 5,576 shares of the utilities provider’s stock worth $205,000 after acquiring an additional 2,108 shares during the last quarter. PNC Financial Services Group Inc. raised its position in California Water Service Group by 24.5% during the second quarter. PNC Financial Services Group Inc. now owns 5,694 shares of the utilities provider’s stock worth $209,000 after acquiring an additional 1,119 shares during the last quarter. Finally, ELCO Management Co. LLC acquired a new position in California Water Service Group during the second quarter worth about $225,000. Institutional investors own 69.57% of the company’s stock.

A number of research firms have recently weighed in on CWT. Barclays boosted their price objective on shares of California Water Service Group from $30.00 to $32.00 and gave the company an “underweight” rating in a research report on Friday, September 22nd. Zacks Investment Research downgraded shares of California Water Service Group from a “buy” rating to a “hold” rating in a research note on Thursday, November 16th. Finally, Robert W. Baird reiterated a “hold” rating and set a $35.00 price objective on shares of California Water Service Group in a research note on Sunday, September 3rd. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. California Water Service Group has an average rating of “Hold” and a consensus price target of $36.75.

Shares of California Water Service Group (NYSE:CWT) traded up $0.15 during trading hours on Wednesday, hitting $43.80. 95,721 shares of the company’s stock were exchanged, compared to its average volume of 157,643. The firm has a market capitalization of $2,155.88, a PE ratio of 31.62, a price-to-earnings-growth ratio of 6.15 and a beta of 0.73. California Water Service Group has a 52 week low of $32.45 and a 52 week high of $46.15. The company has a quick ratio of 0.46, a current ratio of 0.47 and a debt-to-equity ratio of 0.76.

California Water Service Group (NYSE:CWT) last released its quarterly earnings data on Thursday, October 26th. The utilities provider reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.02. The business had revenue of $211.70 million for the quarter, compared to analysts’ expectations of $203.00 million. California Water Service Group had a net margin of 10.46% and a return on equity of 10.31%. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.48 EPS. sell-side analysts predict that California Water Service Group will post 1.33 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 17th. Stockholders of record on Monday, November 6th were given a dividend of $0.18 per share. The ex-dividend date was Friday, November 3rd. This represents a $0.72 annualized dividend and a dividend yield of 1.64%. California Water Service Group’s dividend payout ratio (DPR) is 50.70%.

In other news, VP Lynne P. Mcghee sold 1,605 shares of the stock in a transaction that occurred 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 directly owns 19,660 shares of the company’s stock, valued at $739,412.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Lynne P. Mcghee sold 1,079 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $36.94, for a total transaction of $39,858.26. Following the completion of the sale, the vice president now directly owns 18,581 shares of the company’s stock, valued at $686,382.14. The disclosure for this sale can be found here. Company insiders own 0.97% of the company’s stock.

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California Water Service Group 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 (NYSE:CWT)

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