Allworth Financial LP Acquires 461 Shares of California Water Service Group (NYSE:CWT)

Allworth Financial LP increased its holdings in shares of California Water Service Group (NYSE:CWT) by 3.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,400 shares of the utilities provider’s stock after purchasing an additional 461 shares during the period. Allworth Financial LP’s holdings in California Water Service Group were worth $534,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. State of Alaska Department of Revenue boosted its stake in California Water Service Group by 0.7% in the fourth quarter. State of Alaska Department of Revenue now owns 33,800 shares of the utilities provider’s stock valued at $1,532,000 after acquiring an additional 231 shares in the last quarter. Creative Financial Designs Inc. ADV boosted its stake in California Water Service Group by 2.7% in the third quarter. Creative Financial Designs Inc. ADV now owns 12,041 shares of the utilities provider’s stock valued at $653,000 after acquiring an additional 316 shares in the last quarter. Blue Trust Inc. boosted its stake in California Water Service Group by 255.6% in the third quarter. Blue Trust Inc. now owns 505 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 363 shares in the last quarter. Glenmede Trust Co. NA boosted its stake in California Water Service Group by 8.4% in the third quarter. Glenmede Trust Co. NA now owns 5,026 shares of the utilities provider’s stock valued at $273,000 after acquiring an additional 390 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in California Water Service Group by 1.4% in the fourth quarter. Louisiana State Employees Retirement System now owns 28,800 shares of the utilities provider’s stock valued at $1,306,000 after acquiring an additional 400 shares in the last quarter. 82.78% of the stock is currently owned by institutional investors and hedge funds.

California Water Service Group Trading Up 0.1 %

NYSE CWT opened at $45.52 on Friday. The company has a fifty day simple moving average of $44.90 and a two-hundred day simple moving average of $49.90. The stock has a market cap of $2.71 billion, a P/E ratio of 13.16, a P/E/G ratio of 0.47 and a beta of 0.52. California Water Service Group has a 12-month low of $41.64 and a 12-month high of $56.25. 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 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Monday, February 10th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend is Monday, February 10th. This is a boost from California Water Service Group’s previous quarterly dividend of $0.28. California Water Service Group’s dividend payout ratio (DPR) is 34.68%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CWT shares. Bank of America started coverage on shares of California Water Service Group in a research note on Wednesday, December 11th. They issued a “buy” rating and a $57.00 target price for the company. StockNews.com raised shares of California Water Service Group from a “sell” rating to a “hold” rating in a report on Saturday, February 8th. Finally, Wells Fargo & Company raised shares of California Water Service Group from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $56.00 to $52.00 in a report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.25.

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.