California Water Service Group (NYSE:CWT) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its position in California Water Service Group (NYSE:CWT - Free Report) by 55.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 161,661 shares of the utilities provider's stock after acquiring an additional 57,811 shares during the quarter. JPMorgan Chase & Co. owned about 0.27% of California Water Service Group worth $8,765,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Blue Trust Inc. grew its position in 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 last quarter. GAMMA Investing LLC boosted its stake in shares of 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 valued at $67,000 after buying an additional 413 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in California Water Service Group during the second quarter worth $85,000. nVerses Capital LLC purchased a new position in California Water Service Group in the third quarter worth $119,000. Finally, CWM LLC lifted its holdings in California Water Service Group by 129.1% in the third quarter. CWM LLC now owns 3,090 shares of the utilities provider's stock valued at $168,000 after acquiring an additional 1,741 shares during the period. 82.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at California Water Service Group

In related news, VP Michael B. Luu sold 985 shares of California Water Service Group stock in a transaction dated 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. This trade represents a 4.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.73% of the stock is currently owned by corporate insiders.

California Water Service Group Trading Up 1.3 %

California Water Service Group stock traded up $0.54 during trading on Tuesday, reaching $42.84. The company had a trading volume of 318,664 shares, compared to its average volume of 349,233. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.60 and a current ratio of 0.64. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 0.36 and a beta of 0.50. California Water Service Group has a 12-month low of $41.64 and a 12-month high of $56.25. The stock's 50 day moving average price is $48.21 and its two-hundred day moving average price is $51.17.

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 return on equity of 13.24% and a net margin of 19.56%. The business had revenue of $299.60 million for the quarter, compared to analyst estimates of $289.55 million. During the same period last year, the company posted $0.60 EPS. The firm's revenue for the quarter was up 17.5% compared to the same quarter last year. As a group, equities analysts expect that California Water Service Group will post 3.16 earnings per share for the current fiscal year.

California Water Service Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Tuesday, November 12th were given a dividend of $0.28 per share. The ex-dividend date was Tuesday, November 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.61%. California Water Service Group's payout ratio is currently 32.37%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CWT shares. StockNews.com raised California Water Service Group from a "sell" rating to a "hold" rating in a research note on Wednesday, January 8th. Bank of America assumed coverage on 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. Finally, Wells Fargo & Company raised California Water Service Group from an "equal weight" rating to an "overweight" rating and cut their price target for the stock from $56.00 to $52.00 in a report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $53.25.

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.