California Water Service Group (NYSE:CWT) Shares Acquired by KBC Group NV

KBC Group NV raised its holdings in shares of California Water Service Group (NYSE:CWT) by 0.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 456,462 shares of the utilities provider’s stock after acquiring an additional 2,304 shares during the quarter. KBC Group NV owned approximately 0.95% of California Water Service Group worth $23,111,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in CWT. Parallel Advisors LLC boosted its position in shares of California Water Service Group by 414.1% in the 1st quarter. Parallel Advisors LLC now owns 658 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 530 shares during the period. Quadrant Capital Group LLC boosted its position in shares of California Water Service Group by 1,271.0% in the 1st quarter. Quadrant Capital Group LLC now owns 1,275 shares of the utilities provider’s stock valued at $67,000 after purchasing an additional 1,182 shares during the period. Advisory Services Network LLC acquired a new stake in shares of California Water Service Group in the 1st quarter valued at about $111,000. FMR LLC boosted its position in shares of California Water Service Group by 13.1% in the 4th quarter. FMR LLC now owns 2,910 shares of the utilities provider’s stock valued at $139,000 after purchasing an additional 338 shares during the period. Finally, Sageworth Trust Co acquired a new stake in shares of California Water Service Group in the 2nd quarter valued at about $204,000. 76.01% of the stock is owned by institutional investors and hedge funds.

In other California Water Service Group news, VP David B. Healey sold 1,000 shares of California Water Service Group stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $50.00, for a total value of $50,000.00. Following the transaction, the vice president now directly owns 15,106 shares in the company, valued at approximately $755,300. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter C. Nelson sold 10,000 shares of California Water Service Group stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $55.54, for a total value of $555,400.00. Following the completion of the transaction, the director now owns 24,332 shares in the company, valued at $1,351,399.28. The disclosure for this sale can be found here. Insiders sold a total of 12,000 shares of company stock worth $657,660 over the last quarter. Company insiders own 0.99% of the company’s stock.

CWT has been the subject of a number of research analyst reports. Boenning Scattergood began coverage on California Water Service Group in a research report on Monday, June 10th. They issued a “neutral” rating for the company. Wells Fargo & Co reaffirmed a “hold” rating on shares of California Water Service Group in a research report on Monday, June 10th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $48.50.

Shares of CWT stock opened at $55.80 on Thursday. The business’s 50 day moving average is $53.55 and its two-hundred day moving average is $51.79. California Water Service Group has a twelve month low of $40.10 and a twelve month high of $56.50. The company has a market capitalization of $2.66 billion, a P/E ratio of 41.03, a price-to-earnings-growth ratio of 4.15 and a beta of 0.33. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 1.12.

California Water Service Group (NYSE:CWT) last announced its earnings results on Thursday, August 1st. The utilities provider reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.02). California Water Service Group had a net margin of 8.55% and a return on equity of 8.21%. The company had revenue of $179.03 million during the quarter, compared to analysts’ expectations of $180.97 million. During the same quarter last year, the business posted $0.31 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, equities analysts predict that California Water Service Group will post 1.33 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 12th were paid a $0.198 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.79 annualized dividend and a dividend yield of 1.42%. California Water Service Group’s dividend payout ratio (DPR) is currently 58.09%.

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

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