Geode Capital Management LLC Purchases 24,275 Shares of California Water Service Group (NYSE:CWT)

Geode Capital Management LLC raised its stake in shares of California Water Service Group (NYSE:CWT - Free Report) by 1.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,337,966 shares of the utilities provider's stock after buying an additional 24,275 shares during the period. Geode Capital Management LLC owned approximately 2.25% of California Water Service Group worth $72,559,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Arizona State Retirement System raised its position in California Water Service Group by 1.8% in the second quarter. Arizona State Retirement System now owns 16,147 shares of the utilities provider's stock worth $783,000 after acquiring an additional 287 shares in the last quarter. Creative Financial Designs Inc. ADV raised its holdings in shares of California Water Service Group by 2.7% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 12,041 shares of the utilities provider's stock worth $653,000 after purchasing an additional 316 shares in the last quarter. Blue Trust Inc. lifted its stake 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 during the last quarter. Glenmede Trust Co. NA boosted its holdings in California Water Service Group by 8.4% during the third quarter. Glenmede Trust Co. NA now owns 5,026 shares of the utilities provider's stock worth $273,000 after buying an additional 390 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in California Water Service Group by 0.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 64,767 shares of the utilities provider's stock worth $3,512,000 after buying an additional 407 shares during the last quarter. 82.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on CWT. Bank of America began coverage on California Water Service Group in a research report on Wednesday, December 11th. They set a "buy" rating and a $57.00 price objective for the company. StockNews.com lowered shares of California Water Service Group from a "hold" rating to a "sell" rating in a research note on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $54.50.

California Water Service Group Stock Up 0.2 %

Shares of NYSE CWT traded up $0.08 during mid-day trading on Friday, reaching $46.00. The company had a trading volume of 1,453,658 shares, compared to its average volume of 328,056. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.60 and a current ratio of 0.64. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 13.29 and a beta of 0.50. The stock has a fifty day moving average of $50.71 and a two-hundred day moving average of $51.53. California Water Service Group has a 12-month low of $43.50 and a 12-month high of $56.25.

California Water Service Group (NYSE:CWT - Get Free Report) last released its earnings results on Thursday, October 31st. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.05 by ($0.02). California Water Service Group had a return on equity of 13.24% and a net margin of 19.56%. The company had revenue of $299.60 million during the quarter, compared to analysts' expectations of $289.55 million. During the same quarter in the previous year, the company earned $0.60 EPS. The firm's quarterly revenue was up 17.5% compared to the same quarter last year. As a group, equities research analysts expect that California Water Service Group will post 3.29 EPS for the current year.

California Water Service Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Tuesday, November 12th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.43%. The ex-dividend date was Tuesday, November 12th. California Water Service Group's payout ratio is currently 32.37%.

Insider Transactions at California Water Service Group

In related news, VP Michael B. Luu sold 985 shares of California Water Service Group stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $51.50, for a total value of $50,727.50. Following the completion of the sale, the vice president now owns 20,354 shares of the company's stock, valued at approximately $1,048,231. The trade was a 4.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.