Swiss National Bank Sells 400 Shares of California Water Service Group $CWT

Swiss National Bank cut its holdings in shares of California Water Service Group (NYSE:CWT) by 0.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 115,300 shares of the utilities provider’s stock after selling 400 shares during the period. Swiss National Bank owned approximately 0.19% of California Water Service Group worth $5,587,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC boosted its holdings in California Water Service Group by 2.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,806 shares of the utilities provider’s stock worth $524,000 after purchasing an additional 272 shares during the last quarter. Choreo LLC boosted its holdings in California Water Service Group by 6.6% during the first quarter. Choreo LLC now owns 4,766 shares of the utilities provider’s stock worth $231,000 after purchasing an additional 294 shares during the last quarter. California State Teachers Retirement System boosted its holdings in California Water Service Group by 0.8% during the fourth quarter. California State Teachers Retirement System now owns 55,060 shares of the utilities provider’s stock worth $2,496,000 after purchasing an additional 418 shares during the last quarter. Summit Investment Advisors Inc. boosted its holdings in California Water Service Group by 8.0% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,236 shares of the utilities provider’s stock worth $283,000 after purchasing an additional 464 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in California Water Service Group by 8.9% in the first quarter. PNC Financial Services Group Inc. now owns 7,075 shares of the utilities provider’s stock valued at $343,000 after acquiring an additional 577 shares during the last quarter. 82.78% of the stock is owned by institutional investors.

California Water Service Group Stock Down 0.8%

CWT opened at $46.12 on Tuesday. The company has a quick ratio of 0.50, a current ratio of 0.53 and a debt-to-equity ratio of 0.67. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 2.22 and a beta of 0.66. California Water Service Group has a twelve month low of $41.64 and a twelve month high of $56.25. The company’s 50-day moving average price is $46.01 and its two-hundred day moving average price is $46.87.

California Water Service Group (NYSE:CWT) last announced its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.25. The company had revenue of $264.95 million for the quarter, compared to analysts’ expectations of $238.20 million. California Water Service Group had a net margin of 13.71% and a return on equity of 8.28%. California Water Service Group’s revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.70 EPS. As a group, equities analysts expect that California Water Service Group will post 3.15 earnings per share for the current year.

California Water Service Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CWT. Wells Fargo & Company dropped 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 research note on Friday, August 1st. Wall Street Zen upgraded shares of California Water Service Group from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd.

Insider Activity at California Water Service Group

In related news, Director Lester A. Snow sold 1,200 shares of the company’s stock in a transaction that occurred on 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. This represents a 4.36% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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.