Thrivent Financial for Lutherans Has $3.95 Million Stock Holdings in California Water Service Group (NYSE:CWT)

Thrivent Financial for Lutherans cut its holdings in California Water Service Group (NYSE:CWT - Free Report) by 7.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,115 shares of the utilities provider's stock after selling 6,654 shares during the period. Thrivent Financial for Lutherans owned approximately 0.15% of California Water Service Group worth $3,949,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. FMR LLC boosted its stake in shares of California Water Service Group by 70.5% during the 3rd quarter. FMR LLC now owns 63,625 shares of the utilities provider's stock worth $3,450,000 after acquiring an additional 26,299 shares in the last quarter. JPMorgan Chase & Co. boosted its position in California Water Service Group by 55.7% during the third quarter. JPMorgan Chase & Co. now owns 161,661 shares of the utilities provider's stock worth $8,765,000 after purchasing an additional 57,811 shares during the period. Geode Capital Management LLC grew its holdings in California Water Service Group by 1.8% during the third quarter. Geode Capital Management LLC now owns 1,337,966 shares of the utilities provider's stock valued at $72,559,000 after purchasing an additional 24,275 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of California Water Service Group in the third quarter valued at approximately $585,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of California Water Service Group by 7.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 710,958 shares of the utilities provider's stock valued at $38,548,000 after purchasing an additional 48,055 shares during the period. 82.78% of the stock is owned by institutional investors and hedge funds.

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California Water Service Group Stock Performance

NYSE:CWT traded up $1.75 during trading hours on Friday, hitting $48.26. 552,862 shares of the company traded hands, compared to its average volume of 335,661. 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 stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of 13.95, a P/E/G ratio of 0.46 and a beta of 0.49. The firm has a 50-day moving average of $45.69 and a 200 day moving average of $48.51. California Water Service Group has a twelve month low of $41.64 and a twelve month high of $56.25.

California Water Service Group (NYSE:CWT - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The utilities provider reported $0.33 EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.05). California Water Service Group had a net margin of 19.56% and a return on equity of 13.24%. The company had revenue of $222.20 million for the quarter, compared to analyst estimates of $216.37 million. During the same period in the prior year, the company posted $0.52 EPS. On average, analysts forecast that California Water Service Group will post 3.15 EPS for the current year.

California Water Service Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Monday, February 10th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.49%. The ex-dividend date was Monday, February 10th. This is a positive change from California Water Service Group's previous quarterly dividend of $0.28. California Water Service Group's dividend payout ratio (DPR) is presently 36.70%.

Analysts Set New Price Targets

A number of research firms recently issued reports on CWT. Bank of America began coverage on shares of California Water Service Group in a research note on Wednesday, December 11th. They issued a "buy" rating and a $57.00 target price on the stock. Wells Fargo & Company raised California Water Service Group from an "equal weight" rating to an "overweight" rating and lowered their price target for the company from $56.00 to $52.00 in a research report on Tuesday, January 7th. Finally, StockNews.com upgraded California Water Service Group from a "sell" rating to a "hold" rating in a research note on Saturday, February 8th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $53.25.

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.