Atom Investors LP Purchases 13,290 Shares of California Water Service Group (NYSE:CWT)

Atom Investors LP lifted its holdings in shares of California Water Service Group (NYSE:CWT - Free Report) by 118.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 24,473 shares of the utilities provider's stock after purchasing an additional 13,290 shares during the period. Atom Investors LP's holdings in California Water Service Group were worth $1,327,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in CWT. Blue Trust Inc. grew its holdings in shares of California Water Service Group by 255.6% in the 3rd quarter. Blue Trust Inc. now owns 505 shares of the utilities provider's stock valued at $27,000 after buying an additional 363 shares during the period. GAMMA Investing LLC lifted its holdings in shares of California Water Service Group by 109.9% during the 2nd quarter. GAMMA Investing LLC now owns 823 shares of the utilities provider's stock valued at $40,000 after purchasing an additional 431 shares in the last quarter. CWM LLC grew its position in shares of California Water Service Group by 90.8% in the 2nd quarter. CWM LLC now owns 1,349 shares of the utilities provider's stock valued at $65,000 after purchasing an additional 642 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in California Water Service Group during the 2nd quarter worth approximately $85,000. Finally, nVerses Capital LLC acquired a new stake in California Water Service Group during the 3rd quarter worth approximately $119,000. 82.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of California Water Service Group from a "hold" rating to a "sell" rating in a research report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $53.67.

California Water Service Group Stock Performance

Shares of CWT stock traded down $0.27 during trading on Tuesday, reaching $50.27. 81,440 shares of the company's stock were exchanged, compared to its average volume of 322,865. The firm's fifty day moving average price is $52.03 and its 200-day moving average price is $51.80. California Water Service Group has a twelve month low of $43.50 and a twelve month high of $56.25. The stock has a market capitalization of $2.99 billion, a PE ratio of 14.55 and a beta of 0.50. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 0.64.

California Water Service Group (NYSE:CWT - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The utilities provider reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.02). The company had revenue of $299.60 million during the quarter, compared to the consensus estimate of $289.55 million. California Water Service Group had a net margin of 19.56% and a return on equity of 13.24%. The firm's revenue was up 17.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.60 earnings per share. As a group, sell-side analysts anticipate that California Water Service Group will post 3.29 EPS for the current year.

California Water Service Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Tuesday, November 12th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend was Tuesday, November 12th. California Water Service Group's dividend payout ratio (DPR) is 32.37%.

Insiders Place Their Bets

In other California Water Service Group news, VP Michael B. Luu sold 985 shares of the business's stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $51.50, for a total transaction of $50,727.50. Following the completion of the transaction, the vice president now owns 20,354 shares of the company's stock, valued at approximately $1,048,231. The trade was a 4.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas M. Krummel sold 555 shares of California Water Service Group stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $55.09, for a total value of $30,574.95. Following the sale, the director now directly owns 21,951 shares in the company, valued at $1,209,280.59. The trade was a 2.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.73% of the company's stock.

California Water Service Group Company 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.