Edgestream Partners L.P. Trims Stock Position in California Water Service Group (NYSE:CWT)

Edgestream Partners L.P. decreased its holdings in California Water Service Group (NYSE:CWT - Free Report) by 79.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,876 shares of the utilities provider's stock after selling 41,467 shares during the period. Edgestream Partners L.P.'s holdings in California Water Service Group were worth $590,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its holdings in shares of California Water Service Group by 255.6% during the 3rd quarter. Blue Trust Inc. now owns 505 shares of the utilities provider's stock worth $27,000 after purchasing an additional 363 shares during the period. GAMMA Investing LLC lifted its stake in California Water Service Group by 109.9% during the second quarter. GAMMA Investing LLC now owns 823 shares of the utilities provider's stock worth $40,000 after purchasing an additional 431 shares in the last quarter. CWM LLC grew its stake in shares of California Water Service Group by 90.8% in the second quarter. CWM LLC now owns 1,349 shares of the utilities provider's stock valued at $65,000 after buying an additional 642 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of California Water Service Group in the 2nd quarter valued at $85,000. Finally, nVerses Capital LLC acquired a new position in California Water Service Group during the 3rd quarter worth about $119,000. 82.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of California Water Service Group from a "sell" rating to a "hold" rating in a report on Thursday. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $53.67.

California Water Service Group Stock Down 0.4 %

Shares of NYSE:CWT traded down $0.19 on Friday, hitting $48.92. 83,488 shares of the company's stock were exchanged, compared to its average volume of 324,361. The firm's 50-day moving average is $51.80 and its 200 day moving average is $51.74. The company has a market capitalization of $2.91 billion, a PE ratio of 14.19 and a beta of 0.50. California Water Service Group has a 1-year low of $43.50 and a 1-year high of $56.25. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.60 and a current 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 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.02). California Water Service Group had a return on equity of 13.24% and a net margin of 19.56%. The company had revenue of $299.60 million for the quarter, compared to analyst estimates of $289.55 million. During the same quarter in the prior year, the business earned $0.60 earnings per share. California Water Service Group's revenue was up 17.5% compared to the same quarter last year. Sell-side analysts predict 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. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $1.12 dividend on an annualized basis and a yield of 2.29%. California Water Service Group's dividend payout ratio is presently 32.37%.

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 transaction, the vice president now directly owns 20,354 shares in the company, valued at approximately $1,048,231. This trade represents a 4.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.73% of the company's stock.

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.