Cbre Investment Management Listed Real Assets LLC Buys 36,142 Shares of California Water Service Group (NYSE:CWT)

Cbre Investment Management Listed Real Assets LLC raised its position in California Water Service Group (NYSE:CWT - Free Report) by 5.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 648,406 shares of the utilities provider's stock after purchasing an additional 36,142 shares during the period. Cbre Investment Management Listed Real Assets LLC owned 1.09% of California Water Service Group worth $29,392,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CWT. Charles Schwab Investment Management Inc. lifted its position in shares of California Water Service Group by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 722,163 shares of the utilities provider's stock valued at $32,736,000 after acquiring an additional 11,205 shares during the period. US Bancorp DE lifted its position in shares of California Water Service Group by 9.0% during the 4th quarter. US Bancorp DE now owns 5,816 shares of the utilities provider's stock valued at $264,000 after acquiring an additional 479 shares during the period. Maple Capital Management Inc. acquired a new position in shares of California Water Service Group during the 4th quarter valued at $302,000. Illinois Municipal Retirement Fund lifted its position in shares of California Water Service Group by 5.2% during the 4th quarter. Illinois Municipal Retirement Fund now owns 32,603 shares of the utilities provider's stock valued at $1,478,000 after acquiring an additional 1,608 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of California Water Service Group by 21.2% during the 4th quarter. Bank of New York Mellon Corp now owns 634,179 shares of the utilities provider's stock valued at $28,747,000 after acquiring an additional 110,962 shares during the period. Institutional investors and hedge funds own 82.78% of the company's stock.

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California Water Service Group Stock Up 2.5 %

CWT stock traded up $1.16 during midday trading on Friday, reaching $47.92. 284,958 shares of the company's stock traded hands, compared to its average volume of 371,319. The company has a market cap of $2.85 billion, a price-to-earnings ratio of 13.85, a P/E/G ratio of 0.46 and a beta of 0.49. The firm's fifty day moving average price is $44.82 and its 200-day moving average price is $49.41. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 0.64. California Water Service Group has a 52 week low of $41.64 and a 52 week high of $56.25.

California Water Service Group (NYSE:CWT - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The utilities provider reported $0.33 EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.05). The business had revenue of $222.20 million for the quarter, compared to the consensus estimate of $216.37 million. California Water Service Group had a net margin of 19.56% and a return on equity of 13.24%. During the same quarter last year, the firm posted $0.52 EPS. As a group, sell-side analysts forecast that California Water Service Group will post 3.15 earnings per share for the current fiscal year.

California Water Service Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Monday, February 10th were paid a $0.30 dividend. This is a positive change from California Water Service Group's previous quarterly dividend of $0.28. The ex-dividend date was Monday, February 10th. This represents a $1.20 annualized dividend and a dividend yield of 2.50%. California Water Service Group's dividend payout ratio is presently 36.70%.

Wall Street Analysts Forecast Growth

CWT has been the topic of a number of research reports. 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 on the stock. StockNews.com upgraded shares of California Water Service Group from a "sell" rating to a "hold" rating in a research report on Saturday, February 8th. Finally, Wells Fargo & Company upgraded shares of California Water Service Group from an "equal weight" rating to an "overweight" rating and decreased their price target for the company from $56.00 to $52.00 in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently 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.