Centiva Capital LP Takes Position in California Water Service Group (NYSE:CWT)

Centiva Capital LP purchased a new stake in shares of California Water Service Group (NYSE:CWT - Free Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 15,862 shares of the utilities provider's stock, valued at approximately $860,000.

Other hedge funds have also bought and sold shares of the company. Blue Trust Inc. increased its position in shares of California Water Service Group by 255.6% during the 3rd quarter. Blue Trust Inc. now owns 505 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 363 shares during the last quarter. GAMMA Investing LLC increased its holdings in California Water Service Group by 109.9% during the second quarter. GAMMA Investing LLC now owns 823 shares of the utilities provider's stock worth $40,000 after buying an additional 431 shares during the last quarter. CWM LLC boosted its stake in 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 during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of California Water Service Group during the 2nd quarter valued at approximately $85,000. Finally, nVerses Capital LLC purchased a new stake in shares of California Water Service Group during the 3rd quarter worth approximately $119,000. 82.78% of the stock is currently owned by institutional investors.

California Water Service Group Stock Performance

CWT traded down $0.44 on Friday, hitting $48.68. The company's stock had a trading volume of 249,211 shares, compared to its average volume of 325,114. California Water Service Group has a 12 month low of $43.50 and a 12 month high of $56.25. The firm has a market cap of $2.89 billion, a P/E ratio of 14.14 and a beta of 0.50. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 0.64. The company's 50 day simple moving average is $51.80 and its 200-day simple moving average is $51.74.

California Water Service Group (NYSE:CWT - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The utilities provider reported $1.03 EPS for the quarter, missing analysts' consensus estimates of $1.05 by ($0.02). The company had revenue of $299.60 million during the quarter, compared to the consensus estimate of $289.55 million. California Water Service Group had a return on equity of 13.24% and a net margin of 19.56%. California Water Service Group's revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.60 earnings per share. Analysts forecast that California Water Service Group will post 3.29 EPS for the current year.

California Water Service Group Dividend Announcement

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 $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend was Tuesday, November 12th. California Water Service Group's payout ratio is 32.37%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised California Water Service Group from a "sell" rating to a "hold" rating in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $53.67.

Insider Activity

In other California Water Service Group news, VP Michael B. Luu sold 985 shares of the company's 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 transaction, the vice president now directly owns 20,354 shares in the company, valued at $1,048,231. This represents a 4.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.73% of the stock is owned by company insiders.

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.