Charles Schwab Investment Management Inc. Has $32.74 Million Position in California Water Service Group (NYSE:CWT)

Charles Schwab Investment Management Inc. increased its holdings in shares of California Water Service Group (NYSE:CWT - Free Report) by 1.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 722,163 shares of the utilities provider's stock after purchasing an additional 11,205 shares during the period. Charles Schwab Investment Management Inc. owned 1.21% of California Water Service Group worth $32,736,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its stake in California Water Service Group by 21.2% in 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 buying an additional 110,962 shares during the last quarter. Barclays PLC increased its holdings in California Water Service Group by 135.8% in the 3rd quarter. Barclays PLC now owns 119,645 shares of the utilities provider's stock valued at $6,486,000 after buying an additional 68,914 shares during the period. JPMorgan Chase & Co. increased its holdings in California Water Service Group by 55.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 161,661 shares of the utilities provider's stock valued at $8,765,000 after buying an additional 57,811 shares during the period. Thrivent Financial for Lutherans raised its position in shares of California Water Service Group by 95.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 93,769 shares of the utilities provider's stock valued at $5,084,000 after buying an additional 45,825 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC bought a new stake in shares of California Water Service Group during the 3rd quarter worth approximately $2,152,000. 82.78% of the stock is currently owned by institutional investors.

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California Water Service Group Price Performance

Shares of NYSE:CWT traded down $0.10 during trading on Thursday, hitting $46.24. 166,370 shares of the company were exchanged, compared to its average volume of 307,506. The business's 50 day moving average is $45.26 and its 200-day moving average is $48.92. 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 1-year low of $41.64 and a 1-year high of $56.25. The company has a market capitalization of $2.75 billion, a P/E ratio of 13.39, a price-to-earnings-growth ratio of 0.46 and a beta of 0.49.

California Water Service Group (NYSE:CWT - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate 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 period in the previous year, the business posted $0.52 EPS. Equities analysts forecast that California Water Service Group will post 3.15 earnings per share for the current year.

California Water Service Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Monday, February 10th were issued a dividend of $0.30 per share. This is a positive change from California Water Service Group's previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.20 annualized dividend and a yield of 2.60%. California Water Service Group's dividend payout ratio (DPR) is presently 36.70%.

Wall Street Analysts Forecast Growth

Several research analysts have commented 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. Bank of America assumed coverage on California Water Service Group in a report on Wednesday, December 11th. They set a "buy" rating and a $57.00 price target for the company. Finally, Wells Fargo & Company raised California Water Service Group from an "equal weight" rating to an "overweight" rating and reduced their price objective 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.com, the stock has an average rating of "Moderate Buy" and an average target price of $53.25.

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.