California Water Service Group (NYSE:CWT) Shares Sold by KBC Group NV

KBC Group NV lessened its stake in shares of California Water Service Group (NYSE:CWT - Free Report) by 12.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 626,296 shares of the utilities provider's stock after selling 92,013 shares during the quarter. KBC Group NV owned about 1.05% of California Water Service Group worth $28,390,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Blue Trust Inc. increased its position in California Water Service Group by 255.6% during the 3rd quarter. Blue Trust Inc. now owns 505 shares of the utilities provider's stock worth $27,000 after purchasing an additional 363 shares during the period. GAMMA Investing LLC boosted its stake in shares of California Water Service Group by 50.2% in the third quarter. GAMMA Investing LLC now owns 1,236 shares of the utilities provider's stock valued at $67,000 after buying an additional 413 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in California Water Service Group during the second quarter worth $85,000. nVerses Capital LLC purchased a new position in California Water Service Group in the third quarter worth $119,000. Finally, CWM LLC lifted its holdings in California Water Service Group by 129.1% in the third quarter. CWM LLC now owns 3,090 shares of the utilities provider's stock valued at $168,000 after acquiring an additional 1,741 shares during the period. 82.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CWT shares. StockNews.com cut shares of California Water Service Group from a "hold" rating to a "sell" rating in a research note on Friday. Bank of America began coverage on shares of California Water Service Group in a report on Wednesday, December 11th. They set a "buy" rating and a $57.00 price objective on the stock. Finally, 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 company from $56.00 to $52.00 in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $53.25.

Insider Activity at California Water Service Group

In other news, VP Michael B. Luu sold 985 shares of the business's stock in a transaction on Friday, November 22nd. The stock was 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 of the company's stock, valued at $1,048,231. The trade was a 4.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.73% of the stock is owned by corporate insiders.

California Water Service Group Price Performance

Shares of NYSE:CWT traded up $0.67 during midday trading on Friday, hitting $45.47. 716,123 shares of the stock were exchanged, compared to its average volume of 318,604. California Water Service Group has a twelve month low of $41.64 and a twelve month high of $56.25. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 0.64. The company has a 50 day moving average price of $46.25 and a 200-day moving average price of $50.64. The stock has a market cap of $2.70 billion, a P/E ratio of 13.14, a PEG ratio of 0.45 and a beta of 0.52.

California Water Service Group (NYSE:CWT - Get Free Report) last announced 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). The business had revenue of $299.60 million for the quarter, compared to analyst estimates of $289.55 million. California Water Service Group had a return on equity of 13.24% and a net margin of 19.56%. The business's revenue was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 EPS. On average, 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Monday, February 10th will be 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 annualized dividend and a dividend yield of 2.64%. The ex-dividend date is Monday, February 10th. California Water Service Group's payout ratio is currently 32.37%.

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.