UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $11.66 Million Holdings in California Water Service Group (NYSE:CWT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of California Water Service Group (NYSE:CWT) by 20.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 257,225 shares of the utilities provider’s stock after acquiring an additional 42,926 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in California Water Service Group were worth $11,660,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CWT. Parkworth Wealth Management Inc. acquired a new stake in California Water Service Group during the fourth quarter worth approximately $50,000. Sterling Capital Management LLC lifted its position in California Water Service Group by 785.8% during the fourth quarter. Sterling Capital Management LLC now owns 1,435 shares of the utilities provider’s stock worth $65,000 after acquiring an additional 1,273 shares during the last quarter. Federated Hermes Inc. lifted its position in California Water Service Group by 27.6% during the fourth quarter. Federated Hermes Inc. now owns 1,969 shares of the utilities provider’s stock worth $89,000 after acquiring an additional 426 shares during the last quarter. Millstone Evans Group LLC acquired a new stake in California Water Service Group during the fourth quarter worth approximately $102,000. Finally, State of Wyoming lifted its position in California Water Service Group by 136.4% during the fourth quarter. State of Wyoming now owns 2,291 shares of the utilities provider’s stock worth $104,000 after acquiring an additional 1,322 shares during the last quarter. 82.78% of the stock is currently owned by institutional investors and hedge funds.

California Water Service Group Stock Up 0.8%

NYSE CWT opened at $47.25 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 0.64. California Water Service Group has a 1-year low of $41.64 and a 1-year high of $56.25. The company has a 50 day moving average of $48.50 and a 200-day moving average of $47.21. The company has a market cap of $2.81 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 0.46 and a beta of 0.70.

California Water Service Group (NYSE:CWT) last released its quarterly earnings results on Thursday, May 1st. The utilities provider reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates 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 in the previous year, the business earned $1.21 earnings per share. The firm’s quarterly revenue was down 24.7% on a year-over-year basis. On average, equities research analysts expect that California Water Service Group will post 3.15 earnings per share for the current fiscal year.

California Water Service Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 12th were given a $0.30 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.54%. California Water Service Group’s payout ratio is 52.63%.

Wall Street Analyst Weigh In

CWT has been the subject of several research reports. Wall Street Zen downgraded shares of California Water Service Group from a “hold” rating to a “sell” rating in a research report on Saturday, May 24th. Wells Fargo & Company raised their price objective on shares of California Water Service Group from $54.00 to $59.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Finally, Seaport Res Ptn upgraded shares of California Water Service Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 11th.

About California Water Service Group

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.