5,578 Shares in California Water Service Group (NYSE:CWT) Acquired by Cibc World Markets Corp

Cibc World Markets Corp acquired a new position in shares of California Water Service Group (NYSE:CWT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,578 shares of the utilities provider's stock, valued at approximately $253,000.

Other institutional investors have also added to or reduced their stakes in the company. Parkworth Wealth Management Inc. bought a new position in shares of California Water Service Group in the fourth quarter worth $50,000. Ieq Capital LLC bought a new stake in shares of California Water Service Group during the fourth quarter worth about $202,000. Asset Planning Inc acquired a new position in California Water Service Group in the 4th quarter valued at approximately $204,000. Boston Family Office LLC bought a new position in California Water Service Group during the 3rd quarter worth $210,000. Finally, Aigen Investment Management LP grew its position in shares of California Water Service Group by 18.1% in the 4th quarter. Aigen Investment Management LP now owns 4,954 shares of the utilities provider's stock valued at $225,000 after buying an additional 760 shares during the last quarter. 82.78% of the stock is currently owned by institutional investors.

California Water Service Group Trading Up 3.8 %

CWT traded up $1.75 during midday trading on Friday, reaching $48.26. 552,862 shares of the company's stock traded hands, compared to its average volume of 335,661. California Water Service Group has a 52 week low of $41.64 and a 52 week high of $56.25. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of 13.95, a P/E/G ratio of 0.46 and a beta of 0.49. The firm has a fifty day moving average of $45.69 and a two-hundred day moving average of $48.51. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.64 and a quick ratio of 0.60.

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California Water Service Group (NYSE:CWT - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The utilities provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.05). The company 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 in the previous year, the business earned $0.52 earnings per share. On average, equities analysts anticipate that California Water Service Group will post 3.15 earnings per share for the current fiscal year.

California Water Service Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Monday, February 10th were given a $0.30 dividend. This is a boost 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 dividend on an annualized basis and a yield of 2.49%. California Water Service Group's dividend payout ratio is presently 36.70%.

Analyst Ratings Changes

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