Mutual of America Capital Management LLC Sells 1,009 Shares of California Water Service Group $CWT

Mutual of America Capital Management LLC trimmed its position in California Water Service Group (NYSE:CWT) by 11.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,652 shares of the utilities provider’s stock after selling 1,009 shares during the period. Mutual of America Capital Management LLC’s holdings in California Water Service Group were worth $348,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. raised its holdings in California Water Service Group by 2.3% during the first quarter. T. Rowe Price Investment Management Inc. now owns 3,029,785 shares of the utilities provider’s stock worth $146,824,000 after buying an additional 67,002 shares during the last quarter. Nuance Investments LLC raised its holdings in California Water Service Group by 35.4% during the first quarter. Nuance Investments LLC now owns 2,017,511 shares of the utilities provider’s stock worth $97,769,000 after buying an additional 527,343 shares during the last quarter. Invesco Ltd. raised its holdings in California Water Service Group by 6.1% during the first quarter. Invesco Ltd. now owns 985,141 shares of the utilities provider’s stock worth $47,740,000 after buying an additional 56,993 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC raised its holdings in California Water Service Group by 8.0% during the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 700,564 shares of the utilities provider’s stock worth $33,949,000 after buying an additional 52,158 shares during the last quarter. Finally, Nuveen LLC acquired a new position in California Water Service Group during the first quarter worth $21,562,000. Institutional investors and hedge funds own 82.78% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Weiss Ratings restated a “hold (c)” rating on shares of California Water Service Group in a report on Wednesday, October 8th. Wells Fargo & Company lowered their price objective 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, August 1st. Finally, Wall Street Zen upgraded shares of California Water Service Group from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $56.00.

California Water Service Group Stock Performance

Shares of CWT stock opened at $49.43 on Wednesday. The firm has a 50-day moving average of $46.76 and a 200-day moving average of $46.97. The company has a market cap of $2.94 billion, a P/E ratio of 21.58, a P/E/G ratio of 2.37 and a beta of 0.68. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.53 and a quick ratio of 0.50. California Water Service Group has a one year low of $41.64 and a one year high of $52.83.

California Water Service Group (NYSE:CWT) last posted its quarterly 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. The company had revenue of $264.95 million during the quarter, compared to analyst estimates of $238.20 million. California Water Service Group had a net margin of 13.71% and a return on equity of 8.28%. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.70 earnings per share. Equities research analysts forecast that California Water Service Group will post 3.15 EPS for the current fiscal year.

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.