Duff & Phelps Investment Management Co. Grows Stake in California Water Service Group (NYSE:CWT)

Duff & Phelps Investment Management Co. lifted its holdings in shares of California Water Service Group (NYSE:CWT - Free Report) by 52.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 63,554 shares of the utilities provider's stock after buying an additional 21,791 shares during the period. Duff & Phelps Investment Management Co. owned approximately 0.11% of California Water Service Group worth $3,446,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. increased its stake 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 period. CWM LLC boosted its holdings 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 acquiring an additional 642 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of California Water Service Group by 50.2% during the third quarter. GAMMA Investing LLC now owns 1,236 shares of the utilities provider's stock worth $67,000 after acquiring an additional 413 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in California Water Service Group during the second quarter worth about $85,000. Finally, nVerses Capital LLC purchased a new stake in California Water Service Group in the 3rd quarter valued at approximately $119,000. Hedge funds and other institutional investors own 82.78% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised California Water Service Group from a "sell" rating to a "hold" rating in a research note on Thursday, December 5th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $53.67.

California Water Service Group Price Performance

CWT stock traded up $0.33 during trading on Tuesday, reaching $48.63. 385,845 shares of the company were exchanged, compared to its average volume of 325,049. 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 stock's 50 day moving average price is $51.49 and its 200 day moving average price is $51.66. California Water Service Group has a 52-week low of $43.50 and a 52-week high of $56.25. The company has a market cap of $2.89 billion, a P/E ratio of 14.05 and a beta of 0.50.

California Water Service Group (NYSE:CWT - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The utilities provider reported $1.03 earnings per share for the quarter, missing the consensus estimate 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 firm 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 business earned $0.60 earnings per share. The business's revenue for the quarter was up 17.5% on a year-over-year basis. As a group, analysts predict that California Water Service Group will post 3.29 earnings per share for the current fiscal year.

California Water Service Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Tuesday, November 12th were issued 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 2.30%. California Water Service Group's dividend payout ratio (DPR) is presently 32.37%.

Insider Activity at California Water Service Group

In related news, VP Michael B. Luu sold 985 shares of California Water Service Group 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 transaction, the vice president now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.