California Water Service Group (NYSE:CWT) Position Raised by Profund Advisors LLC

Profund Advisors LLC boosted its position in shares of California Water Service Group (NYSE:CWT) by 23.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,032 shares of the utilities provider’s stock after purchasing an additional 1,716 shares during the period. Profund Advisors LLC’s holdings in California Water Service Group were worth $336,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CWT. Schwab Charles Investment Management Inc. increased its holdings in California Water Service Group by 6.4% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 304,572 shares of the utilities provider’s stock worth $13,813,000 after purchasing an additional 18,302 shares in the last quarter. Teacher Retirement System of Texas bought a new position in California Water Service Group during the 4th quarter worth about $739,000. California Public Employees Retirement System increased its holdings in California Water Service Group by 2.5% during the 4th quarter. California Public Employees Retirement System now owns 115,540 shares of the utilities provider’s stock worth $5,240,000 after purchasing an additional 2,872 shares in the last quarter. Swiss National Bank grew its holdings in shares of California Water Service Group by 2.1% in the 4th quarter. Swiss National Bank now owns 81,000 shares of the utilities provider’s stock valued at $3,673,000 after acquiring an additional 1,700 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of California Water Service Group by 11.3% in the 4th quarter. First Trust Advisors LP now owns 235,783 shares of the utilities provider’s stock valued at $10,693,000 after acquiring an additional 23,888 shares in the last quarter. Hedge funds and other institutional investors own 70.63% of the company’s stock.

Several equities analysts have recently weighed in on the company. Zacks Investment Research upgraded California Water Service Group from a “strong sell” rating to a “hold” rating in a report on Wednesday. ValuEngine cut California Water Service Group from a “buy” rating to a “hold” rating in a report on Wednesday, June 6th. UBS Group decreased their price objective on California Water Service Group from $34.00 to $33.00 and set a “sell” rating for the company in a report on Friday, March 23rd. Hilliard Lyons upgraded California Water Service Group from an “underperform” rating to a “neutral” rating in a report on Monday, March 26th. Finally, Wells Fargo & Co upgraded California Water Service Group from an “underperform” rating to a “market perform” rating and set a $35.00 price objective for the company in a report on Monday, April 2nd. Two research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. The company has an average rating of “Hold” and an average target price of $36.60.

NYSE:CWT traded down $0.20 during mid-day trading on Friday, hitting $38.95. The stock had a trading volume of 166,762 shares, compared to its average volume of 355,710. California Water Service Group has a twelve month low of $35.25 and a twelve month high of $46.15. The company has a market capitalization of $1.89 billion, a P/E ratio of 27.82 and a beta of 0.66. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.34 and a current ratio of 0.36.

California Water Service Group (NYSE:CWT) last issued its earnings results on Thursday, April 26th. The utilities provider reported ($0.05) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.10). California Water Service Group had a net margin of 9.38% and a return on equity of 9.32%. The firm had revenue of $132.25 million during the quarter, compared to analyst estimates of $113.42 million. During the same quarter last year, the business posted $0.02 earnings per share. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. equities analysts forecast that California Water Service Group will post 1.33 earnings per share for the current year.

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.

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

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