Nuveen Asset Management LLC Has $14.39 Million Position in California Water Service Group (NYSE:CWT)

Nuveen Asset Management LLC increased its holdings in shares of California Water Service Group (NYSE:CWT) by 5.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 317,419 shares of the utilities provider’s stock after buying an additional 15,405 shares during the period. Nuveen Asset Management LLC owned about 0.53% of California Water Service Group worth $14,389,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CWT. Parkworth Wealth Management Inc. acquired a new stake in California Water Service Group during the 4th quarter worth approximately $50,000. Sterling Capital Management LLC boosted its position in California Water Service Group by 785.8% during the 4th quarter. Sterling Capital Management LLC now owns 1,435 shares of the utilities provider’s stock worth $65,000 after buying an additional 1,273 shares during the period. Federated Hermes Inc. boosted its position in California Water Service Group by 27.6% during the 4th quarter. Federated Hermes Inc. now owns 1,969 shares of the utilities provider’s stock worth $89,000 after buying an additional 426 shares during the period. Millstone Evans Group LLC acquired a new stake in California Water Service Group during the 4th quarter worth approximately $102,000. Finally, GeoWealth Management LLC acquired a new stake in California Water Service Group during the 4th quarter worth approximately $124,000. 82.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on CWT. Wall Street Zen downgraded shares of California Water Service Group from a “hold” rating to a “sell” rating in a research report on Saturday. 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. Finally, Wells Fargo & Company boosted their price target 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.

California Water Service Group Stock Up 0.2%

Shares of NYSE CWT opened at $47.00 on Monday. The company has a market capitalization of $2.80 billion, a P/E ratio of 13.58, a price-to-earnings-growth ratio of 0.46 and a beta of 0.70. California Water Service Group has a 52-week low of $41.64 and a 52-week high of $56.25. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.60 and a current ratio of 0.64. The company’s 50 day moving average price is $48.41 and its 200-day moving average price is $47.31.

California Water Service Group (NYSE:CWT) last issued its quarterly earnings results on Thursday, May 1st. The utilities provider reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The firm had revenue of $203.97 million for the quarter, compared to the consensus estimate of $194.80 million. California Water Service Group had a net margin of 19.56% and a return on equity of 13.24%. The company’s revenue for the quarter was down 24.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.21 EPS. Equities analysts forecast that California Water Service Group will post 3.15 earnings per share for the current year.

California Water Service Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 12th were paid a $0.30 dividend. The ex-dividend date was Monday, May 12th. This represents a $1.20 annualized dividend and a dividend yield of 2.55%. California Water Service Group’s dividend payout ratio is currently 52.63%.

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, 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.