TFO Wealth Partners LLC Raises Holdings in California Water Service Group (NYSE:CWT)

TFO Wealth Partners LLC boosted its position in California Water Service Group (NYSE:CWTFree Report) by 57,000.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,142 shares of the utilities provider’s stock after purchasing an additional 1,140 shares during the quarter. TFO Wealth Partners LLC’s holdings in California Water Service Group were worth $59,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc boosted its holdings in shares of California Water Service Group by 42.2% during the 4th quarter. AdvisorNet Financial Inc now owns 741 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 220 shares during the last quarter. Signaturefd LLC boosted its stake in California Water Service Group by 77.6% during the fourth quarter. Signaturefd LLC now owns 1,891 shares of the utilities provider’s stock worth $98,000 after buying an additional 826 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in California Water Service Group by 93.3% in the 4th quarter. Quadrant Capital Group LLC now owns 3,748 shares of the utilities provider’s stock valued at $194,000 after buying an additional 1,809 shares in the last quarter. Boston Family Office LLC acquired a new stake in shares of California Water Service Group in the 4th quarter worth $200,000. Finally, Stewart & Patten Co. LLC acquired a new stake in shares of California Water Service Group in the 4th quarter worth $207,000. Hedge funds and other institutional investors own 82.78% of the company’s stock.

California Water Service Group Stock Performance

Shares of CWT stock opened at $49.22 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.52 and a current ratio of 0.56. The firm has a market cap of $2.84 billion, a P/E ratio of 19.69 and a beta of 0.48. The firm’s 50 day moving average price is $48.77 and its 200-day moving average price is $48.65. California Water Service Group has a one year low of $43.50 and a one year high of $58.30.

California Water Service Group (NYSE:CWTGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The utilities provider reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $1.00. California Water Service Group had a return on equity of 10.09% and a net margin of 15.42%. The company had revenue of $270.75 million for the quarter, compared to analysts’ expectations of $183.85 million. During the same period in the prior year, the firm earned ($0.40) earnings per share. The firm’s revenue was up 106.5% compared to the same quarter last year. As a group, equities research analysts predict that California Water Service Group will post 3.15 EPS for the current year.

California Water Service Group Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Monday, May 6th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend was Friday, May 3rd. California Water Service Group’s dividend payout ratio is currently 44.80%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CWT shares. UBS Group upgraded shares of California Water Service Group from a “sell” rating to a “neutral” rating and set a $49.00 price objective for the company in a research report on Thursday, April 4th. StockNews.com raised shares of California Water Service Group from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Robert W. Baird increased their price objective on California Water Service Group from $52.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Finally, TheStreet downgraded California Water Service Group from a “b-” rating to a “c+” rating in a research report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $54.25.

Check Out Our Latest Analysis on CWT

Insiders Place Their Bets

In related news, Director Thomas M. Krummel sold 555 shares of California Water Service Group stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $53.26, for a total value of $29,559.30. Following the completion of the transaction, the director now owns 23,318 shares in the company, valued at $1,241,916.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Thomas M. Krummel sold 2,220 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $50.00, for a total transaction of $111,000.00. Following the sale, the director now owns 23,873 shares of the company’s stock, valued at $1,193,650. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas M. Krummel sold 555 shares of California Water Service Group stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $53.26, for a total value of $29,559.30. Following the completion of the transaction, the director now owns 23,318 shares of the company’s stock, valued at $1,241,916.68. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

California Water Service Group Profile

(Free Report)

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.

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

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