California Water Service Group (NYSE:CWT) Shares Sold by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd trimmed its holdings in California Water Service Group (NYSE:CWT - Free Report) by 73.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,749 shares of the utilities provider's stock after selling 21,400 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in California Water Service Group were worth $420,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its position in California Water Service Group by 1.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,049 shares of the utilities provider's stock valued at $3,954,000 after buying an additional 1,495 shares during the period. Tidal Investments LLC purchased a new position in shares of California Water Service Group during the first quarter valued at $535,000. Cetera Advisors LLC bought a new stake in shares of California Water Service Group in the first quarter valued at about $272,000. GAMMA Investing LLC lifted its stake 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 acquiring an additional 431 shares during the period. Finally, Kingswood Wealth Advisors LLC grew its holdings in California Water Service Group by 16.9% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 6,925 shares of the utilities provider's stock worth $336,000 after acquiring an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 82.78% of the company's stock.

California Water Service Group Stock Performance

CWT remained flat at $51.19 on Friday. The company's stock had a trading volume of 153,268 shares, compared to its average volume of 285,240. The stock has a market cap of $3.04 billion, a PE ratio of 14.79 and a beta of 0.49. 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 company has a 50-day simple moving average of $52.09 and a two-hundred day simple moving average of $51.83. California Water Service Group has a 52 week low of $43.50 and a 52 week high of $56.25.

California Water Service Group (NYSE:CWT - Get Free Report) last released its quarterly earnings results 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). California Water Service Group had a net margin of 19.56% and a return on equity of 13.24%. The firm had revenue of $299.60 million during the quarter, compared to the consensus estimate of $289.55 million. During the same quarter in the prior year, the business posted $0.60 earnings per share. The firm's quarterly revenue was up 17.5% on a year-over-year basis. Analysts forecast that California Water Service Group will post 3.29 EPS for the current fiscal year.

California Water Service Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Tuesday, November 12th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date was Tuesday, November 12th. California Water Service Group's payout ratio is presently 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 research report on Wednesday. One analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $53.67.

Insider Activity

In related news, Director Thomas M. Krummel sold 555 shares of California Water Service Group stock in a transaction that occurred on Wednesday, September 4th. The shares were 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 in the company, valued at $1,209,280.59. This trade represents a 2.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Michael B. Luu sold 985 shares of the company's stock in a transaction that occurred on 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. The trade was a 4.62 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.73% of the company's stock.

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.