Flinton Capital Management LLC lifted its stake in California Water Service Group (NYSE:CWT) by 11.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,302 shares of the utilities provider’s stock after acquiring an additional 1,020 shares during the period. Flinton Capital Management LLC’s holdings in California Water Service Group were worth $491,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of CWT. Nuance Investments LLC bought a new position in shares of California Water Service Group in the third quarter worth $12,166,000. BlackRock Inc. boosted its stake in California Water Service Group by 2.7% during the third quarter. BlackRock Inc. now owns 7,315,768 shares of the utilities provider’s stock valued at $313,849,000 after buying an additional 194,252 shares during the period. Vanguard Group Inc boosted its stake in California Water Service Group by 2.3% during the third quarter. Vanguard Group Inc now owns 5,337,436 shares of the utilities provider’s stock valued at $228,976,000 after buying an additional 118,398 shares during the period. Vanguard Group Inc. boosted its stake in California Water Service Group by 2.3% during the third quarter. Vanguard Group Inc. now owns 5,337,436 shares of the utilities provider’s stock valued at $228,976,000 after buying an additional 118,398 shares during the period. Finally, WINTON GROUP Ltd boosted its stake in California Water Service Group by 26.4% during the fourth quarter. WINTON GROUP Ltd now owns 322,690 shares of the utilities provider’s stock valued at $15,379,000 after buying an additional 67,453 shares during the period. 73.15% of the stock is owned by hedge funds and other institutional investors.
CWT has been the subject of several research analyst reports. Zacks Investment Research raised California Water Service Group from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research note on Thursday, January 3rd. Wells Fargo & Co lifted their price target on California Water Service Group from $45.00 to $49.00 and gave the stock a “market perform” rating in a research note on Monday, March 4th. Robert W. Baird raised California Water Service Group from a “neutral” rating to an “outperform” rating and set a $50.00 price target for the company in a research note on Thursday, December 6th. Finally, ValuEngine raised California Water Service Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $45.20.
California Water Service Group (NYSE:CWT) last released its quarterly earnings data on Thursday, February 28th. The utilities provider reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.04. The firm had revenue of $167.42 million for the quarter, compared to the consensus estimate of $163.45 million. California Water Service Group had a return on equity of 8.58% and a net margin of 8.71%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.31 earnings per share. On average, analysts predict that California Water Service Group will post 1.4 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 22nd. Stockholders of record on Monday, February 11th were issued a $0.1975 dividend. The ex-dividend date was Friday, February 8th. This represents a $0.79 annualized dividend and a dividend yield of 1.47%. This is an increase from California Water Service Group’s previous quarterly dividend of $0.19. California Water Service Group’s payout ratio is currently 58.09%.
In other news, insider Elissa Y. Ouyang sold 1,000 shares of California Water Service Group stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $54.03, for a total value of $54,030.00. Following the transaction, the insider now owns 3,680 shares in the company, valued at $198,830.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In the last quarter, insiders sold 2,199 shares of company stock worth $115,720. Company insiders own 1.00% of the company’s stock.
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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.
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