Principal Financial Group Inc. Has $18.53 Million Position in California Water Service Group (NYSE:CWT)

Principal Financial Group Inc. reduced its holdings in shares of California Water Service Group (NYSE:CWTGet Rating) by 20.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 333,586 shares of the utilities provider’s stock after selling 86,156 shares during the period. Principal Financial Group Inc. owned about 0.61% of California Water Service Group worth $18,531,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Nuance Investments LLC lifted its holdings in California Water Service Group by 135.8% during the 2nd quarter. Nuance Investments LLC now owns 1,304,840 shares of the utilities provider’s stock valued at $72,484,000 after purchasing an additional 751,553 shares during the last quarter. State Street Corp lifted its holdings in California Water Service Group by 5.9% during the 1st quarter. State Street Corp now owns 4,229,509 shares of the utilities provider’s stock valued at $250,725,000 after purchasing an additional 234,146 shares during the last quarter. Eaton Vance Management lifted its holdings in California Water Service Group by 6,846.4% during the 1st quarter. Eaton Vance Management now owns 126,008 shares of the utilities provider’s stock valued at $7,470,000 after purchasing an additional 124,194 shares during the last quarter. Pictet Asset Management SA lifted its holdings in California Water Service Group by 5.7% during the 2nd quarter. Pictet Asset Management SA now owns 1,563,970 shares of the utilities provider’s stock valued at $86,879,000 after purchasing an additional 83,688 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in California Water Service Group during the 1st quarter valued at about $4,085,000. 80.07% of the stock is currently owned by institutional investors and hedge funds.

California Water Service Group Trading Up 0.6 %

Shares of NYSE CWT opened at $63.99 on Wednesday. California Water Service Group has a 1-year low of $48.46 and a 1-year high of $72.08. The company has a market cap of $3.51 billion, a PE ratio of 43.24 and a beta of 0.44. The company has a current ratio of 1.05, a quick ratio of 1.02 and a debt-to-equity ratio of 0.82. The company has a 50-day moving average of $57.80 and a two-hundred day moving average of $56.90.

California Water Service Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 18th. Shareholders of record on Monday, November 7th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date was Friday, November 4th. California Water Service Group’s dividend payout ratio is presently 67.57%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CWT shares. StockNews.com raised shares of California Water Service Group from a “sell” rating to a “hold” rating in a report on Monday, October 31st. Wells Fargo & Company lifted their price target on shares of California Water Service Group from $55.00 to $61.00 and gave the company an “underweight” rating in a report on Monday, October 31st.

Insiders Place Their Bets

In other California Water Service Group news, insider Michelle R. Mortensen sold 615 shares of the business’s stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $56.74, for a total value of $34,895.10. Following the completion of the transaction, the insider now directly owns 8,582 shares of the company’s stock, valued at $486,942.68. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last three months, insiders sold 1,715 shares of company stock valued at $100,946. Insiders own 0.97% of the company’s stock.

California Water Service Group Profile

(Get Rating)

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.

Further Reading

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

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