California Water Service Group (NYSE:CWT) Shares Bought by First Trust Advisors LP

First Trust Advisors LP increased its stake in shares of California Water Service Group (NYSE:CWT - Free Report) by 4.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,689,977 shares of the utilities provider's stock after buying an additional 79,658 shares during the quarter. First Trust Advisors LP owned about 2.84% of California Water Service Group worth $76,607,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in CWT. GeoWealth Management LLC acquired a new position in shares of California Water Service Group in the fourth quarter valued at about $124,000. CANADA LIFE ASSURANCE Co increased its holdings in California Water Service Group by 1.4% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 129,765 shares of the utilities provider's stock worth $5,876,000 after buying an additional 1,731 shares during the period. Mariner LLC raised its position in California Water Service Group by 36.1% during the 4th quarter. Mariner LLC now owns 31,276 shares of the utilities provider's stock worth $1,418,000 after buying an additional 8,299 shares during the last quarter. Barclays PLC lifted its stake in California Water Service Group by 10.7% during the 4th quarter. Barclays PLC now owns 132,405 shares of the utilities provider's stock valued at $6,001,000 after acquiring an additional 12,760 shares during the period. Finally, Summit Investment Advisors Inc. lifted its stake in California Water Service Group by 8.0% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,236 shares of the utilities provider's stock valued at $283,000 after acquiring an additional 464 shares during the period. 82.78% of the stock is owned by institutional investors and hedge funds.

California Water Service Group Price Performance

Shares of California Water Service Group stock traded down $0.53 on Thursday, hitting $49.96. The company's stock had a trading volume of 560,403 shares, compared to its average volume of 333,427. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 14.44, a price-to-earnings-growth ratio of 0.46 and a beta of 0.56. The firm has a fifty day moving average price of $47.68 and a 200-day moving average price of $47.95. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.60 and a current ratio of 0.64. California Water Service Group has a 1 year low of $41.64 and a 1 year high of $56.25.

California Water Service Group (NYSE:CWT - Get Free Report) last announced its earnings results on Thursday, February 27th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.05). The business had revenue of $222.20 million for the quarter, compared to analysts' expectations 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 last year, the business earned $0.52 EPS. As a group, sell-side 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. Investors of record on Monday, February 10th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend was Monday, February 10th. This is an increase from California Water Service Group's previous quarterly dividend of $0.28. California Water Service Group's dividend payout ratio is 36.70%.

Analyst Ratings Changes

Several brokerages recently issued reports on CWT. StockNews.com raised shares of California Water Service Group from a "sell" rating to a "hold" rating in a report on Friday, April 11th. Seaport Res Ptn upgraded California Water Service Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 11th. Finally, Wells Fargo & Company upgraded California Water Service Group from an "equal weight" rating to an "overweight" rating and lowered their price objective for the stock from $56.00 to $52.00 in a research report on Tuesday, January 7th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $54.67.

About California Water Service Group

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.