31,397 Shares in California Water Service Group (NYSE:CWT) Bought by Susquehanna Fundamental Investments LLC

Susquehanna Fundamental Investments LLC acquired a new stake in shares of California Water Service Group (NYSE:CWT) during the 4th quarter, HoldingsChannel reports. The firm acquired 31,397 shares of the utilities provider’s stock, valued at approximately $1,423,000.

Other hedge funds have also recently bought and sold shares of the company. Barclays PLC grew its holdings in shares of California Water Service Group by 135.8% in the third quarter. Barclays PLC now owns 119,645 shares of the utilities provider’s stock valued at $6,486,000 after acquiring an additional 68,914 shares in the last quarter. Franklin Resources Inc. grew its stake in California Water Service Group by 117.0% in the 3rd quarter. Franklin Resources Inc. now owns 58,258 shares of the utilities provider’s stock valued at $3,100,000 after purchasing an additional 31,412 shares during the period. JPMorgan Chase & Co. increased its position in shares of California Water Service Group by 55.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 161,661 shares of the utilities provider’s stock valued at $8,765,000 after purchasing an additional 57,811 shares during the last quarter. Ballentine Partners LLC bought a new stake in shares of California Water Service Group during the 4th quarter worth $234,000. Finally, SG Americas Securities LLC boosted its holdings in shares of California Water Service Group by 205.5% in the 4th quarter. SG Americas Securities LLC now owns 31,205 shares of the utilities provider’s stock worth $1,415,000 after buying an additional 20,991 shares during the last quarter. 82.78% of the stock is owned by hedge funds and other institutional investors.

California Water Service Group Price Performance

NYSE CWT opened at $50.30 on Friday. The company has a market cap of $2.99 billion, a PE ratio of 14.54, a price-to-earnings-growth ratio of 0.46 and a beta of 0.56. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 0.64. The firm’s 50-day simple moving average is $48.13 and its two-hundred day simple moving average is $47.88. California Water Service Group has a 52 week low of $41.64 and a 52 week high of $56.25.

California Water Service Group (NYSE:CWT) last released its quarterly earnings data on Thursday, May 1st. The utilities provider reported $0.22 EPS for the quarter, topping the consensus estimate of $0.16 by $0.06. California Water Service Group had a net margin of 19.56% and a return on equity of 13.24%. The company had revenue of $203.97 million during the quarter, compared to the consensus estimate of $194.80 million. During the same period last year, the firm earned $1.21 EPS. California Water Service Group’s revenue for the quarter was down 24.7% on a year-over-year basis. Research analysts predict that California Water Service Group will post 3.15 earnings per share for the current year.

California Water Service Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 12th will be paid a dividend of $0.30 per share. The ex-dividend date is Monday, May 12th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.39%. California Water Service Group’s payout ratio is 36.70%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CWT. Seaport Res Ptn raised shares of California Water Service Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 11th. StockNews.com raised shares of California Water Service Group from a “sell” rating to a “hold” rating in a report on Friday, April 11th. Finally, Wells Fargo & Company raised California Water Service Group from an “equal weight” rating to an “overweight” rating and reduced their price objective for the company from $56.00 to $52.00 in a report on Tuesday, January 7th.

California Water Service Group Profile

California Water Service Group, through its subsidiaries, provides water utility and other related services in California, Washington, New Mexico, Hawaii, and Texas. The company 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 services.