California Water Service Group (NYSE:CWT) Position Increased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its stake in shares of California Water Service Group (NYSE:CWT - Free Report) by 7.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 710,958 shares of the utilities provider's stock after buying an additional 48,055 shares during the period. Charles Schwab Investment Management Inc. owned 1.20% of California Water Service Group worth $38,548,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Blue Trust Inc. increased its position in California Water Service Group by 255.6% during the third quarter. Blue Trust Inc. now owns 505 shares of the utilities provider's stock worth $27,000 after buying an additional 363 shares in the last quarter. GAMMA Investing LLC grew its position in shares of California Water Service Group by 109.9% in the second quarter. GAMMA Investing LLC now owns 823 shares of the utilities provider's stock valued at $40,000 after purchasing an additional 431 shares during the period. CWM LLC boosted its holdings 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. acquired a new position in California Water Service Group in the second quarter valued at $85,000. Finally, nVerses Capital LLC acquired a new position in shares of California Water Service Group during the third quarter worth about $119,000. Hedge funds and other institutional investors own 82.78% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut California Water Service Group from a "hold" rating to a "sell" rating in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $53.67.

California Water Service Group Stock Performance

Shares of NYSE:CWT traded down $0.87 during trading on Tuesday, hitting $49.67. 389,092 shares of the company traded hands, compared to its average volume of 281,462. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of 14.35 and a beta of 0.50. The business's fifty day moving average is $52.03 and its 200-day moving average is $51.80. California Water Service Group has a one year low of $43.50 and a one year high of $56.25. 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 (NYSE:CWT - Get Free Report) last posted its earnings results on Thursday, October 31st. The utilities provider reported $1.03 EPS 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 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 posted $0.60 earnings per share. The firm's revenue for the quarter was up 17.5% compared to the same quarter last year. As a group, equities analysts predict that California Water Service Group will post 3.29 earnings per share for the current fiscal year.

California Water Service Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Tuesday, November 12th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date was Tuesday, November 12th. California Water Service Group's dividend payout ratio (DPR) is 32.37%.

Insider Buying and Selling

In other news, VP Michael B. Luu sold 985 shares of the firm's 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 completion of the sale, the vice president now owns 20,354 shares of the company's stock, valued at $1,048,231. This trade represents a 4.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Thomas M. Krummel sold 555 shares of the firm's stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $55.09, for a total value of $30,574.95. Following the completion of the sale, the director now directly owns 21,951 shares of the company's stock, valued at approximately $1,209,280.59. This trade represents a 2.47 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company's stock.

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.