Intech Investment Management LLC Makes New Investment in California Water Service Group (NYSE:CWT)

Intech Investment Management LLC acquired a new position in shares of California Water Service Group (NYSE:CWT - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 10,784 shares of the utilities provider's stock, valued at approximately $585,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. lifted its holdings in shares of California Water Service Group by 255.6% during the 3rd 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. GAMMA Investing LLC raised 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 valued at $40,000 after buying an additional 431 shares during the last quarter. CWM LLC raised its stake in California Water Service Group by 90.8% in the second quarter. CWM LLC now owns 1,349 shares of the utilities provider's stock valued at $65,000 after buying an additional 642 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in California Water Service Group in the second quarter worth about $85,000. Finally, nVerses Capital LLC purchased a new stake in shares of California Water Service Group during the third quarter worth about $119,000. Hedge funds and other institutional investors own 82.78% of the company's stock.

Insider Activity at California Water Service Group

In related news, VP Michael B. Luu sold 985 shares of the business's 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 transaction, the vice president now directly owns 20,354 shares in the company, valued at $1,048,231. The trade was a 4.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Thomas M. Krummel sold 555 shares of the firm's stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $55.09, for a total transaction of $30,574.95. Following the sale, the director now owns 21,951 shares in the company, valued at approximately $1,209,280.59. This represents a 2.47 % decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by insiders.

California Water Service Group Price Performance

California Water Service Group stock remained flat at $51.19 during trading hours on Friday. The company's stock had a trading volume of 153,268 shares, compared to its average volume of 285,240. The firm's 50-day moving average price is $52.09 and its 200 day moving average price is $51.83. 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 firm has a market capitalization of $3.04 billion, a PE ratio of 14.79 and a beta of 0.49. California Water Service Group has a twelve month low of $43.50 and a twelve month high of $56.25.

California Water Service Group (NYSE:CWT - Get Free Report) last issued its earnings results on Thursday, October 31st. The utilities provider reported $1.03 EPS 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 analysts' expectations of $289.55 million. During the same quarter in the prior year, the company earned $0.60 EPS. California Water Service Group's quarterly revenue was up 17.5% on a year-over-year basis. Research analysts forecast that California Water Service Group will post 3.29 earnings per share for the current fiscal year.

California Water Service Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Tuesday, November 12th were issued a dividend of $0.28 per share. The ex-dividend date was Tuesday, November 12th. This represents a $1.12 annualized dividend and a dividend yield of 2.19%. California Water Service Group's dividend payout ratio (DPR) is presently 32.37%.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered 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 stock. Based on data from MarketBeat, California Water Service Group has an average rating of "Hold" and a consensus price target of $53.67.

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.