Algert Global LLC Increases Holdings in California Water Service Group (NYSE:CWT)

Algert Global LLC lifted its position in shares of California Water Service Group (NYSE:CWT - Free Report) by 296.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,061 shares of the utilities provider's stock after purchasing an additional 17,250 shares during the period. Algert Global LLC's holdings in California Water Service Group were worth $1,250,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CWT. Quadrature Capital Ltd increased its position in California Water Service Group by 4.6% in the 1st quarter. Quadrature Capital Ltd now owns 6,661 shares of the utilities provider's stock valued at $309,000 after acquiring an additional 295 shares during the period. Price T Rowe Associates Inc. MD increased its position in California Water Service Group by 1.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,049 shares of the utilities provider's stock valued at $3,954,000 after acquiring an additional 1,495 shares during the period. Tidal Investments LLC purchased a new stake in shares of California Water Service Group in the first quarter valued at approximately $535,000. Cetera Advisors LLC purchased a new position in California Water Service Group in the first quarter worth $272,000. Finally, GAMMA Investing LLC lifted its holdings in California Water Service Group by 109.9% in the second quarter. GAMMA Investing LLC now owns 823 shares of the utilities provider's stock valued at $40,000 after acquiring an additional 431 shares during the period. Institutional investors and hedge funds own 82.78% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com lowered California Water Service Group from a "hold" rating to a "sell" rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $53.67.

California Water Service Group Price Performance

Shares of NYSE:CWT traded up $0.04 during trading on Friday, hitting $51.23. 153,268 shares of the stock were exchanged, compared to its average volume of 323,789. 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. The company has a fifty day moving average price of $52.15 and a two-hundred day moving average price of $51.85. The company has a market cap of $3.05 billion, a PE ratio of 14.77 and a beta of 0.49.

California Water Service Group (NYSE:CWT - Get Free Report) last posted its 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). California Water Service Group had a net margin of 19.56% and a return on equity of 13.24%. The company had revenue of $299.60 million during the quarter, compared to analysts' expectations of $289.55 million. During the same period in the previous year, the company posted $0.60 EPS. California Water Service Group's quarterly revenue was up 17.5% compared to the same quarter last year. On average, analysts forecast that California Water Service Group will post 3.29 EPS for the current year.

California Water Service Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Tuesday, November 12th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend was Tuesday, November 12th. California Water Service Group's payout ratio is currently 32.37%.

Insider Activity at California Water Service Group

In other California Water Service Group news, VP Michael B. Luu sold 985 shares of the business's stock in a transaction 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 completion of the transaction, the vice president now directly owns 20,354 shares in the company, valued at approximately $1,048,231. The trade was a 4.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Thomas M. Krummel sold 555 shares of the business's stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $55.09, for a total value of $30,574.95. Following the completion of the transaction, the director now owns 21,951 shares of the company's stock, valued at $1,209,280.59. This trade represents a 2.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.73% of the stock is owned by corporate insiders.

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.