Connor Clark & Lunn Investment Management Ltd. Has $373,000 Stock Holdings in California Water Service Group (NYSE:CWT)

Connor Clark & Lunn Investment Management Ltd. lessened its holdings in California Water Service Group (NYSE:CWT - Free Report) by 70.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,219 shares of the utilities provider's stock after selling 19,812 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in California Water Service Group were worth $373,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CWT. Natixis Advisors LLC raised its holdings in shares of California Water Service Group by 6.5% in the 3rd quarter. Natixis Advisors LLC now owns 11,109 shares of the utilities provider's stock worth $602,000 after buying an additional 682 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in California Water Service Group by 95.6% during the third quarter. Thrivent Financial for Lutherans now owns 93,769 shares of the utilities provider's stock worth $5,084,000 after acquiring an additional 45,825 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of California Water Service Group during the third quarter valued at $585,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of California Water Service Group by 7.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 710,958 shares of the utilities provider's stock valued at $38,548,000 after acquiring an additional 48,055 shares during the period. Finally, Citigroup Inc. boosted its stake in shares of California Water Service Group by 78.8% in the 3rd quarter. Citigroup Inc. now owns 72,207 shares of the utilities provider's stock valued at $3,915,000 after purchasing an additional 31,831 shares in the last quarter. Institutional investors and hedge funds own 82.78% of the company's stock.

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California Water Service Group Price Performance

Shares of CWT stock traded up $0.09 during trading hours on Thursday, reaching $46.49. 304,225 shares of the company were exchanged, compared to its average volume of 370,994. California Water Service Group has a fifty-two week low of $41.64 and a fifty-two week high of $56.25. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.64 and a quick ratio of 0.60. The stock's fifty day moving average is $45.58 and its two-hundred day moving average is $48.61. The company has a market cap of $2.77 billion, a price-to-earnings ratio of 13.44, a P/E/G ratio of 0.46 and a beta of 0.49.

California Water Service Group (NYSE:CWT - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $222.20 million for the quarter, compared to analyst estimates of $216.37 million. California Water Service Group had a return on equity of 13.24% and a net margin of 19.56%. During the same period in the prior year, the company posted $0.52 EPS. Sell-side analysts forecast that California Water Service Group will post 3.15 earnings per share for the current fiscal year.

California Water Service Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Monday, February 10th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.58%. This is a positive change from California Water Service Group's previous quarterly dividend of $0.28. The ex-dividend date was Monday, February 10th. California Water Service Group's dividend payout ratio (DPR) is presently 36.70%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CWT shares. StockNews.com raised shares of California Water Service Group from a "sell" rating to a "hold" rating in a report on Saturday, February 8th. Wells Fargo & Company upgraded shares of California Water Service Group from an "equal weight" rating to an "overweight" rating and cut their target price for the company from $56.00 to $52.00 in a research note on Tuesday, January 7th. Finally, Bank of America started coverage on California Water Service Group in a research report on Wednesday, December 11th. They set a "buy" rating and a $57.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, California Water Service Group has a consensus 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.