Barclays PLC Acquires 68,914 Shares of California Water Service Group (NYSE:CWT)

Barclays PLC boosted its stake in California Water Service Group (NYSE:CWT - Free Report) by 135.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 119,645 shares of the utilities provider's stock after acquiring an additional 68,914 shares during the period. Barclays PLC owned 0.20% of California Water Service Group worth $6,486,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Blue Trust Inc. raised its position 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 worth $27,000 after acquiring an additional 363 shares in the last quarter. GAMMA Investing LLC raised its holdings in California Water Service Group by 50.2% in the third quarter. GAMMA Investing LLC now owns 1,236 shares of the utilities provider's stock worth $67,000 after purchasing an additional 413 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in California Water Service Group during the second quarter valued at $85,000. nVerses Capital LLC bought a new stake in shares of California Water Service Group during the 3rd quarter valued at $119,000. Finally, Rothschild Investment LLC purchased a new stake in shares of California Water Service Group in the 2nd quarter worth about $127,000. 82.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CWT has been the subject of a number of recent research reports. Bank of America assumed coverage on shares of California Water Service Group in a research report on Wednesday, December 11th. They set a "buy" rating and a $57.00 price target for the company. StockNews.com lowered shares of California Water Service Group from a "hold" rating to a "sell" rating in a report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $54.50.

Insider Transactions at California Water Service Group

In other California Water Service Group news, VP Michael B. Luu sold 985 shares of California Water Service Group stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $51.50, for a total value of $50,727.50. Following the sale, the vice president now owns 20,354 shares of the company's stock, valued at $1,048,231. The trade was a 4.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.73% of the company's stock.

California Water Service Group Stock Up 0.2 %

CWT stock traded up $0.08 during midday trading on Friday, hitting $46.00. The company's stock had a trading volume of 1,453,658 shares, compared to its average volume of 328,056. The company has a market cap of $2.74 billion, a PE ratio of 13.29 and a beta of 0.50. The firm's 50-day moving average is $50.84 and its 200-day moving average is $51.56. California Water Service Group has a 12 month low of $43.50 and a 12 month high of $56.25. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 0.64.

California Water Service Group (NYSE:CWT - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.05 by ($0.02). The business had revenue of $299.60 million for 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 company's revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.60 earnings per share. On average, equities research analysts forecast that California Water Service Group will post 3.29 earnings per share for the current fiscal year.

California Water Service Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Tuesday, November 12th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date was Tuesday, November 12th. California Water Service Group's payout ratio is 32.37%.

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.