Universal Beteiligungs und Servicegesellschaft mbH Takes Position in California Water Service Group (NYSE:CWT)

Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in California Water Service Group (NYSE:CWT) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 8,451 shares of the utilities provider’s stock, valued at approximately $410,000.

Other hedge funds have also recently modified their holdings of the company. Choreo LLC boosted its holdings in shares of California Water Service Group by 6.6% in the first quarter. Choreo LLC now owns 4,766 shares of the utilities provider’s stock valued at $231,000 after acquiring an additional 294 shares in the last quarter. Allianz Asset Management GmbH boosted its holdings in shares of California Water Service Group by 486.6% in the first quarter. Allianz Asset Management GmbH now owns 35,782 shares of the utilities provider’s stock valued at $1,734,000 after acquiring an additional 29,682 shares in the last quarter. South Dakota Investment Council boosted its holdings in shares of California Water Service Group by 242.3% in the first quarter. South Dakota Investment Council now owns 24,017 shares of the utilities provider’s stock valued at $1,164,000 after acquiring an additional 17,000 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of California Water Service Group by 39.7% in the first quarter. Victory Capital Management Inc. now owns 255,232 shares of the utilities provider’s stock valued at $12,369,000 after acquiring an additional 72,519 shares in the last quarter. Finally, ELCO Management Co. LLC boosted its holdings in shares of California Water Service Group by 51.3% in the first quarter. ELCO Management Co. LLC now owns 9,916 shares of the utilities provider’s stock valued at $481,000 after acquiring an additional 3,361 shares in the last quarter. 82.78% of the stock is owned by hedge funds and other institutional investors.

California Water Service Group Stock Up 2.3%

Shares of NYSE CWT opened at $46.51 on Monday. The company has a quick ratio of 0.50, a current ratio of 0.53 and a debt-to-equity ratio of 0.67. California Water Service Group has a 52 week low of $41.64 and a 52 week high of $56.25. The firm has a 50-day moving average price of $45.98 and a 200 day moving average price of $46.70. The stock has a market capitalization of $2.77 billion, a price-to-earnings 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 announced its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.71 EPS 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 firm had revenue of $264.95 million during the quarter, compared to analysts’ expectations of $238.20 million. During the same quarter last year, the business earned $0.70 earnings per share. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. Equities research analysts anticipate that California Water Service Group will post 3.15 EPS for the current fiscal year.

California Water Service Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Monday, August 11th will be paid a $0.30 dividend. The ex-dividend date is Monday, August 11th. This represents a $1.20 annualized dividend and a dividend yield of 2.6%. California Water Service Group’s dividend payout ratio (DPR) is 52.40%.

Analyst Ratings Changes

Several analysts have recently weighed in on CWT shares. Wells Fargo & Company lowered their target price on shares of California Water Service Group from $59.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday. Seaport Res Ptn raised shares of California Water Service Group from a “hold” rating to a “strong-buy” rating in a report on Friday, April 11th. Finally, Wall Street Zen raised shares of California Water Service Group from a “sell” rating to a “hold” rating in a report on Saturday.

Insider Activity at California Water Service Group

In related news, Director Lester A. Snow sold 1,200 shares of the firm’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 completion of the sale, the director owned 26,349 shares in the company, valued at $1,225,491.99. This trade represents a 4.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.73% of the stock is owned by company insiders.

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.