Kingswood Wealth Advisors LLC Makes New $314,000 Investment in California Water Service Group (NYSE:CWT)

Kingswood Wealth Advisors LLC purchased a new stake in shares of California Water Service Group (NYSE:CWT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,925 shares of the utilities provider's stock, valued at approximately $314,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. increased its stake in shares of 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 acquiring an additional 363 shares during the period. GAMMA Investing LLC lifted its stake in California Water Service Group by 50.2% during 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 in the 2nd quarter worth approximately $85,000. nVerses Capital LLC acquired a new stake in shares of California Water Service Group in the third quarter worth $119,000. Finally, CWM LLC boosted its position in California Water Service Group by 129.1% during the 3rd quarter. CWM LLC now owns 3,090 shares of the utilities provider's stock worth $168,000 after acquiring an additional 1,741 shares during the period. Institutional investors own 82.78% of the company's stock.

California Water Service Group Stock Performance

Shares of NYSE CWT traded down $0.68 during trading hours on Tuesday, reaching $44.67. The stock had a trading volume of 287,582 shares, compared to its average volume of 374,461. California Water Service Group has a twelve month low of $41.64 and a twelve month 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. The business's fifty day moving average is $45.99 and its two-hundred day moving average is $50.53. The company has a market cap of $2.66 billion, a price-to-earnings ratio of 12.91, a PEG ratio of 0.46 and a beta of 0.52.

California Water Service Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Monday, February 10th will be given a dividend of $0.30 per share. This is a positive change from California Water Service Group's previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a dividend yield of 2.69%. The ex-dividend date is Monday, February 10th. California Water Service Group's payout ratio is 32.37%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Wells Fargo & Company upgraded shares of California Water Service Group from an "equal weight" rating to an "overweight" rating and lowered their price target for the company from $56.00 to $52.00 in a report on Tuesday, January 7th. StockNews.com lowered shares of California Water Service Group from a "hold" rating to a "sell" rating in a research report on Friday. Finally, Bank of America initiated 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. 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 stock. According to MarketBeat, California Water Service Group currently has a consensus rating of "Hold" and an average price target of $53.25.

Insider Activity

In related news, VP Michael B. Luu sold 985 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $51.50, for a total transaction of $50,727.50. Following the sale, the vice president now directly owns 20,354 shares in the company, valued at $1,048,231. This represents a 4.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.73% of the company's stock.

California Water Service Group 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.