IQ EQ FUND MANAGEMENT IRELAND Ltd Has $2.13 Million Stake in California Water Service Group (NYSE:CWT)

IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its position in California Water Service Group (NYSE:CWT) by 2.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 43,890 shares of the utilities provider’s stock after buying an additional 1,015 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd owned about 0.07% of California Water Service Group worth $2,127,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of CWT. Versant Capital Management Inc grew its stake in California Water Service Group by 751.3% in the 1st quarter. Versant Capital Management Inc now owns 681 shares of the utilities provider’s stock valued at $33,000 after buying an additional 601 shares during the last quarter. Banque Cantonale Vaudoise acquired a new position in California Water Service Group during the 1st quarter worth $34,000. Sterling Capital Management LLC lifted 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 acquiring an additional 1,273 shares during the last quarter. Mather Group LLC. acquired a new position in California Water Service Group during the 1st quarter worth $74,000. Finally, Putney Financial Group LLC acquired a new stake in California Water Service Group in the 4th quarter worth $78,000. Institutional investors and hedge funds own 82.78% of the company’s stock.

California Water Service Group Price Performance

Shares of California Water Service Group stock opened at $46.51 on Monday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.50 and a current ratio of 0.53. The firm’s 50-day simple moving average is $45.98 and its 200-day simple moving average is $46.70. California Water Service Group has a twelve month low of $41.64 and a twelve month high of $56.25. The firm has a market cap of $2.77 billion, a P/E ratio of 20.31, a price-to-earnings-growth ratio of 2.25 and a beta of 0.66.

California Water Service Group (NYSE:CWT) last issued its earnings results on Thursday, July 31st. The utilities provider reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.25. California Water Service Group had a net margin of 13.71% and a return on equity of 8.28%. The business had revenue of $264.95 million for the quarter, compared to analyst estimates of $238.20 million. During the same period in the previous year, the business earned $0.70 EPS. The firm’s revenue was up 8.5% on a year-over-year basis. As a group, research analysts expect that California Water Service Group will post 3.15 EPS for the current fiscal year.

California Water Service Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Monday, August 11th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Monday, August 11th. California Water Service Group’s payout ratio is 52.40%.

Analysts Set New Price Targets

CWT has been the topic of several research analyst reports. Wall Street Zen upgraded shares of California Water Service Group from a “sell” rating to a “hold” rating in a research report on Saturday. Wells Fargo & Company decreased their price target on shares of California Water Service Group from $59.00 to $55.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, 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.

Insider Buying and Selling at California Water Service Group

In other news, Director Lester A. Snow sold 1,200 shares of California Water Service Group stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $46.51, for a total transaction of $55,812.00. Following the sale, the director directly owned 26,349 shares in the company, valued at approximately $1,225,491.99. The trade was a 4.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.73% of the company’s stock.

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.