Geode Capital Management LLC Grows Stake in California Water Service Group (NYSE:CWT)

Geode Capital Management LLC increased its holdings in California Water Service Group (NYSE:CWT - Free Report) by 1.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,360,158 shares of the utilities provider's stock after buying an additional 22,192 shares during the quarter. Geode Capital Management LLC owned 2.29% of California Water Service Group worth $61,670,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Franklin Resources Inc. grew its position in shares of California Water Service Group by 4.4% during the 4th quarter. Franklin Resources Inc. now owns 60,811 shares of the utilities provider's stock valued at $2,757,000 after acquiring an additional 2,553 shares during the period. Pictet Asset Management Holding SA increased its position in California Water Service Group by 28.7% in the fourth quarter. Pictet Asset Management Holding SA now owns 11,886 shares of the utilities provider's stock worth $539,000 after buying an additional 2,654 shares in the last quarter. New Age Alpha Advisors LLC bought a new position in shares of California Water Service Group in the fourth quarter worth about $4,444,000. Triodos Investment Management BV lifted its position in shares of California Water Service Group by 10.0% during the 4th quarter. Triodos Investment Management BV now owns 493,000 shares of the utilities provider's stock valued at $22,348,000 after buying an additional 45,000 shares in the last quarter. Finally, Norges Bank bought a new position in shares of California Water Service Group during the 4th quarter valued at approximately $37,998,000. 82.78% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CWT shares. StockNews.com raised shares of California Water Service Group from a "sell" rating to a "hold" rating in a report on Friday. Wells Fargo & Company raised shares of California Water Service Group from an "equal weight" rating to an "overweight" rating and dropped their target price for the stock from $56.00 to $52.00 in a report on Tuesday, January 7th. Finally, Seaport Res Ptn raised California Water Service Group from a "hold" rating to a "strong-buy" rating in a report on Friday. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, California Water Service Group currently has an average rating of "Buy" and a consensus price target of $54.67.

California Water Service Group Price Performance

Shares of CWT stock traded down $0.20 during mid-day trading on Tuesday, hitting $50.81. The company had a trading volume of 328,883 shares, compared to its average volume of 340,654. The company has a market capitalization of $3.02 billion, a P/E ratio of 14.68, a P/E/G ratio of 0.46 and a beta of 0.56. The stock's 50 day moving average price is $46.88 and its 200-day moving average price is $48.04. California Water Service Group has a 52-week low of $41.64 and a 52-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.

California Water Service Group (NYSE:CWT - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The utilities provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.05). The company had revenue of $222.20 million for the quarter, compared to the consensus estimate 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 period last year, the company earned $0.52 EPS. Equities research analysts forecast that California Water Service Group will post 3.15 earnings per share for the current year.

California Water Service Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Monday, February 10th were given a dividend of $0.30 per share. This is an increase from California Water Service Group's previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend was Monday, February 10th. California Water Service Group's dividend payout ratio is currently 36.70%.

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.