Assenagon Asset Management S.A. Sells 182,069 Shares of California Water Service Group (NYSE:CWT)

Assenagon Asset Management S.A. cut its holdings in California Water Service Group (NYSE:CWT - Free Report) by 72.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 70,764 shares of the utilities provider's stock after selling 182,069 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.12% of California Water Service Group worth $3,208,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Geode Capital Management LLC increased its stake in shares of California Water Service Group by 1.8% in 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 buying an additional 24,275 shares during the period. Dimensional Fund Advisors LP increased its position in California Water Service Group by 2.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,288,740 shares of the utilities provider's stock valued at $62,491,000 after acquiring an additional 25,711 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of California Water Service Group by 7.2% during 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 acquiring an additional 48,055 shares during the last quarter. Deprince Race & Zollo Inc. lifted its holdings in shares of California Water Service Group by 2.8% during the second quarter. Deprince Race & Zollo Inc. now owns 693,025 shares of the utilities provider's stock worth $33,605,000 after purchasing an additional 19,118 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of California Water Service Group by 2.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 214,299 shares of the utilities provider's stock worth $11,619,000 after purchasing an additional 6,081 shares during the last quarter. Institutional investors and hedge funds own 82.78% of the company's stock.

California Water Service Group Stock Down 2.9 %

NYSE CWT traded down $1.28 on Wednesday, hitting $43.01. 417,539 shares of the company were exchanged, compared to its average volume of 360,041. 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 market cap of $2.56 billion, a PE ratio of 12.43, a PEG ratio of 0.45 and a beta of 0.52. The stock has a fifty day moving average of $47.31 and a 200-day moving average of $50.99. California Water Service Group has a 12 month low of $41.64 and a 12 month high of $56.25.

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 (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 company had revenue of $299.60 million for the quarter, compared to the consensus estimate of $289.55 million. During the same period last year, the company earned $0.60 EPS. California Water Service Group's revenue for the quarter was up 17.5% compared to the same quarter last year. As a group, analysts forecast that California Water Service Group will post 3.15 earnings per share for the current year.

California Water Service Group Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 2.60%. California Water Service Group's dividend payout ratio is 32.37%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. StockNews.com raised California Water Service Group from a "sell" rating to a "hold" rating in a research report on Wednesday, January 8th. Wells Fargo & Company raised California Water Service Group from an "equal weight" rating to an "overweight" rating and cut their price objective for the stock from $56.00 to $52.00 in a research note on Tuesday, January 7th. Finally, Bank of America initiated coverage on shares of California Water Service Group in a research report on Wednesday, December 11th. They set a "buy" rating and a $57.00 target price for the company. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $53.25.

Insider Transactions at California Water Service Group

In related news, VP Michael B. Luu sold 985 shares of the company's stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $51.50, for a total value of $50,727.50. Following the sale, the vice president now owns 20,354 shares in the company, valued at $1,048,231. This represents a 4.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.73% of the stock is owned by insiders.

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.