Wealth Enhancement Advisory Services LLC Has $477,000 Stake in California Water Service Group (NYSE:CWT)

Wealth Enhancement Advisory Services LLC raised its position in shares of California Water Service Group (NYSE:CWT) by 75.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,534 shares of the utilities provider’s stock after acquiring an additional 4,542 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in California Water Service Group were worth $477,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CWT. Norges Bank bought a new stake in California Water Service Group during the 4th quarter valued at approximately $37,998,000. Vanguard Group Inc. increased its position in California Water Service Group by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 7,514,709 shares of the utilities provider’s stock worth $340,642,000 after buying an additional 158,295 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of California Water Service Group by 91.0% during the fourth quarter. JPMorgan Chase & Co. now owns 308,704 shares of the utilities provider’s stock worth $13,994,000 after buying an additional 147,043 shares during the last quarter. Northern Trust Corp boosted its position in shares of California Water Service Group by 13.1% in the fourth quarter. Northern Trust Corp now owns 979,138 shares of the utilities provider’s stock valued at $44,384,000 after acquiring an additional 113,622 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of California Water Service Group by 21.2% in the fourth quarter. Bank of New York Mellon Corp now owns 634,179 shares of the utilities provider’s stock valued at $28,747,000 after acquiring an additional 110,962 shares during the period. 82.78% of the stock is owned by institutional investors and hedge funds.

California Water Service Group Price Performance

Shares of CWT stock opened at $46.60 on Friday. California Water Service Group has a 12 month low of $41.64 and a 12 month high of $56.25. The company has a market capitalization of $2.78 billion, a P/E ratio of 13.47, a P/E/G ratio of 0.46 and a beta of 0.66. The stock has a 50 day moving average of $48.20 and a two-hundred day moving average of $46.91. 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 (NYSE:CWT) last issued its earnings results on Thursday, May 1st. The utilities provider reported $0.22 EPS for the quarter, topping the consensus estimate of $0.16 by $0.06. California Water Service Group had a return on equity of 13.24% and a net margin of 19.56%. The firm had revenue of $203.97 million during the quarter, compared to analysts’ expectations of $194.80 million. During the same period last year, the business earned $1.21 earnings per share. California Water Service Group’s quarterly revenue was down 24.7% compared to the same quarter last year. As a group, equities analysts expect that California Water Service Group will post 3.15 EPS for the current year.

California Water Service Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 12th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.58%. The ex-dividend date was Monday, May 12th. California Water Service Group’s dividend payout ratio (DPR) is presently 52.63%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Wall Street Zen raised shares of California Water Service Group from a “sell” rating to a “hold” rating in a research report on Friday, June 6th. Seaport Res Ptn upgraded shares of California Water Service Group from a “hold” rating to a “strong-buy” rating in a report on Friday, April 11th. Finally, Wells Fargo & Company upped their price objective on shares of California Water Service Group from $54.00 to $59.00 and gave the company an “overweight” rating in a research report on Friday, May 2nd.

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.