California Water Service Group (NYSE:CWT) Shares Bought by Citigroup Inc.

Citigroup Inc. increased its holdings in California Water Service Group (NYSE:CWT - Free Report) by 78.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 72,207 shares of the utilities provider's stock after buying an additional 31,831 shares during the quarter. Citigroup Inc. owned 0.12% of California Water Service Group worth $3,915,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CWT. Blue Trust Inc. lifted its holdings 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 valued at $27,000 after purchasing an additional 363 shares in the last quarter. GAMMA Investing LLC increased its position in California Water Service Group by 109.9% in the second quarter. GAMMA Investing LLC now owns 823 shares of the utilities provider's stock worth $40,000 after purchasing an additional 431 shares during the last quarter. CWM LLC increased its position 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 worth $65,000 after purchasing an additional 642 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in California Water Service Group during the second quarter valued at $85,000. Finally, nVerses Capital LLC bought a new position in California Water Service Group during the third quarter valued at $119,000. Hedge funds and other institutional investors own 82.78% of the company's stock.

Insider Buying and Selling at California Water Service Group

In other news, VP Michael B. Luu sold 985 shares of the company's stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $51.50, for a total transaction of $50,727.50. Following the transaction, the vice president now owns 20,354 shares in the company, valued at $1,048,231. This represents a 4.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.73% of the company's stock.

California Water Service Group Stock Down 2.2 %

NYSE:CWT traded down $1.10 during mid-day trading on Wednesday, reaching $48.55. The company's stock had a trading volume of 556,394 shares, compared to its average volume of 325,207. California Water Service Group has a 1 year low of $43.50 and a 1 year high of $56.25. The stock has a fifty day moving average of $51.96 and a 200-day moving average of $51.78. The firm has a market capitalization of $2.89 billion, a PE ratio of 14.36 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.

California Water Service Group (NYSE:CWT - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The utilities provider reported $1.03 earnings per share for the quarter, missing analysts' consensus estimates of $1.05 by ($0.02). The business had revenue of $299.60 million during the quarter, compared to analysts' expectations of $289.55 million. California Water Service Group had a return on equity of 13.24% and a net margin of 19.56%. The firm's revenue was up 17.5% compared to the same quarter last year. During the same period last year, the company earned $0.60 earnings per share. Equities research analysts forecast that California Water Service Group will post 3.29 earnings per share 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. Shareholders of record on Tuesday, November 12th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.31%. The ex-dividend date was Tuesday, November 12th. California Water Service Group's payout ratio is 32.37%.

Analysts Set New Price Targets

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

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.