California Water Service Group (CWT) Shares Bought by Neuburgh Advisers LLC

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Neuburgh Advisers LLC lifted its stake in California Water Service Group (NYSE:CWT) by 11.0% during the 4th quarter, Holdings Channel reports. The fund owned 6,666 shares of the utilities provider’s stock after buying an additional 660 shares during the period. Neuburgh Advisers LLC’s holdings in California Water Service Group were worth $318,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of California Water Service Group by 2.1% in the fourth quarter. BlackRock Inc. now owns 7,470,871 shares of the utilities provider’s stock worth $356,064,000 after acquiring an additional 155,103 shares during the last quarter. Vanguard Group Inc grew its stake in shares of California Water Service Group by 2.3% in the third quarter. Vanguard Group Inc now owns 5,337,436 shares of the utilities provider’s stock worth $228,976,000 after acquiring an additional 118,398 shares during the last quarter. Vanguard Group Inc. boosted its stake in California Water Service Group by 2.3% during the third quarter. Vanguard Group Inc. now owns 5,337,436 shares of the utilities provider’s stock worth $228,976,000 after buying an additional 118,398 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in California Water Service Group by 1.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,602,002 shares of the utilities provider’s stock worth $76,351,000 after buying an additional 16,628 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in California Water Service Group by 3.5% during the third quarter. Bank of New York Mellon Corp now owns 702,362 shares of the utilities provider’s stock worth $30,132,000 after buying an additional 23,715 shares in the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

A number of equities research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of California Water Service Group from a “hold” rating to a “sell” rating in a research note on Monday, February 11th. ValuEngine upgraded shares of California Water Service Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 12th. Robert W. Baird upgraded shares of California Water Service Group from a “neutral” rating to an “outperform” rating and set a $50.00 price target on the stock in a research note on Thursday, December 6th. Finally, Wells Fargo & Co lifted their price target on shares of California Water Service Group from $45.00 to $49.00 and gave the stock a “market perform” rating in a research note on Monday, March 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. California Water Service Group currently has a consensus rating of “Hold” and a consensus price target of $45.20.

In other California Water Service Group news, Director Lester A. Snow sold 1,000 shares of California Water Service Group stock in a transaction on Monday, March 11th. The stock was sold at an average price of $53.69, for a total transaction of $53,690.00. Following the completion of the transaction, the director now directly owns 18,195 shares of the company’s stock, valued at $976,889.55. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders have sold 2,199 shares of company stock valued at $115,720. Company insiders own 1.00% of the company’s stock.

Shares of NYSE CWT opened at $53.89 on Monday. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of 39.63, a P/E/G ratio of 5.50 and a beta of 0.40. California Water Service Group has a 52-week low of $35.60 and a 52-week high of $54.53. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.59 and a quick ratio of 0.57.

California Water Service Group (NYSE:CWT) last issued its quarterly earnings data on Thursday, February 28th. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.04. The company had revenue of $167.42 million during the quarter, compared to analysts’ expectations of $163.45 million. California Water Service Group had a return on equity of 8.58% and a net margin of 8.71%. The business’s revenue was up 1.9% on a year-over-year basis. During the same period last year, the business earned $0.31 earnings per share. As a group, sell-side analysts predict that California Water Service Group will post 1.4 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 22nd. Shareholders of record on Monday, February 11th were issued a dividend of $0.1975 per share. The ex-dividend date was Friday, February 8th. This is a boost from California Water Service Group’s previous quarterly dividend of $0.19. This represents a $0.79 dividend on an annualized basis and a dividend yield of 1.47%. California Water Service Group’s dividend payout ratio (DPR) is presently 58.09%.

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California Water Service Group Profile

California Water Service Group, through its subsidiaries, provides water utility and other related services in California, Washington, New Mexico, and Hawaii. It 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.

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Institutional Ownership by Quarter for California Water Service Group (NYSE:CWT)

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