California Water Service Group (NYSE:CWT) Stock Position Decreased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its position in shares of California Water Service Group (NYSE:CWT) by 43.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,292 shares of the utilities provider’s stock after selling 30,472 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.07% of California Water Service Group worth $1,953,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Versant Capital Management Inc raised its position in shares of California Water Service Group by 751.3% in the first quarter. Versant Capital Management Inc now owns 681 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 601 shares during the period. Parkworth Wealth Management Inc. acquired a new position in California Water Service Group in the 4th quarter valued at $50,000. Sterling Capital Management LLC grew its stake in California Water Service Group by 785.8% in the 4th quarter. Sterling Capital Management LLC now owns 1,435 shares of the utilities provider’s stock valued at $65,000 after buying an additional 1,273 shares during the last quarter. Putney Financial Group LLC bought a new position in California Water Service Group in the 4th quarter worth $78,000. Finally, Federated Hermes Inc. lifted 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 acquiring an additional 426 shares during the last quarter. Institutional investors own 82.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on CWT. Wall Street Zen raised 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 research note on Friday, April 11th. Finally, Wells Fargo & Company boosted their target price 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.

Insiders Place Their Bets

In other California Water Service Group news, Director Lester A. Snow sold 1,200 shares of the business’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $46.51, for a total value of $55,812.00. Following the transaction, the director now directly owns 26,349 shares in the company, valued at $1,225,491.99. The trade was a 4.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.73% of the company’s stock.

California Water Service Group Stock Performance

NYSE:CWT opened at $45.89 on Wednesday. The firm has a market capitalization of $2.73 billion, a PE ratio of 20.13, a price-to-earnings-growth ratio of 2.27 and a beta of 0.66. The company has a quick ratio of 0.49, a current ratio of 0.53 and a debt-to-equity ratio of 0.68. California Water Service Group has a 12-month low of $41.64 and a 12-month high of $56.25. The firm has a 50-day moving average price of $48.12 and a 200 day moving average price of $46.78.

California Water Service Group (NYSE:CWT) last released its quarterly earnings data on Thursday, May 1st. The utilities provider reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.06. California Water Service Group had a return on equity of 8.32% and a net margin of 13.84%. The company had revenue of $203.97 million for the quarter, compared to analyst estimates of $194.80 million. During the same period in the prior year, the company posted $1.21 EPS. The company’s revenue was down 24.7% compared to the same quarter last year. Research analysts anticipate that California Water Service Group will post 3.15 earnings per share for the current fiscal year.

California Water Service Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 12th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend was Monday, May 12th. California Water Service Group’s dividend payout ratio (DPR) is 52.63%.

About California Water Service Group

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.