KLP Kapitalforvaltning AS Invests $548,000 in California Water Service Group (NYSE:CWT)

KLP Kapitalforvaltning AS bought a new position in shares of California Water Service Group (NYSE:CWT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 12,100 shares of the utilities provider's stock, valued at approximately $548,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in CWT. Bank of New York Mellon Corp boosted its stake in California Water Service Group by 21.2% during the 4th quarter. Bank of New York Mellon Corp now owns 634,179 shares of the utilities provider's stock valued at $28,747,000 after purchasing an additional 110,962 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of California Water Service Group in the fourth quarter valued at approximately $4,704,000. Barclays PLC boosted its position in shares of California Water Service Group by 135.8% during the third quarter. Barclays PLC now owns 119,645 shares of the utilities provider's stock valued at $6,486,000 after buying an additional 68,914 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in California Water Service Group by 55.7% during the third quarter. JPMorgan Chase & Co. now owns 161,661 shares of the utilities provider's stock worth $8,765,000 after buying an additional 57,811 shares in the last quarter. Finally, Wealthfront Advisers LLC purchased a new stake in California Water Service Group in the 4th quarter valued at $2,088,000. Institutional investors and hedge funds own 82.78% of the company's stock.

California Water Service Group Stock Performance

Shares of NYSE CWT traded down $0.97 during mid-day trading on Monday, reaching $47.51. 628,829 shares of the company's stock were exchanged, compared to its average volume of 338,119. The firm has a 50-day moving average price of $46.25 and a two-hundred day moving average price of $48.22. 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 $2.83 billion, a price-to-earnings ratio of 13.73, a price-to-earnings-growth ratio of 0.46 and a beta of 0.56. California Water Service Group has a 52 week low of $41.64 and a 52 week high of $56.25.

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California Water Service Group (NYSE:CWT - Get Free Report) last announced 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). California Water Service Group had a return on equity of 13.24% and a net margin of 19.56%. The company had revenue of $222.20 million during the quarter, compared to the consensus estimate of $216.37 million. During the same period in the prior year, the firm posted $0.52 EPS. Analysts predict that California Water Service Group will post 3.15 EPS 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. Shareholders of record on Monday, February 10th were given a $0.30 dividend. 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 yield of 2.53%. The ex-dividend date of this dividend was Monday, February 10th. California Water Service Group's dividend payout ratio (DPR) is currently 36.70%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CWT shares. StockNews.com lowered shares of California Water Service Group from a "hold" rating to a "sell" rating in a research note on Thursday. Wells Fargo & Company raised shares of California Water Service Group from an "equal weight" rating to an "overweight" rating and reduced their price objective for the stock from $56.00 to $52.00 in a research report on Tuesday, January 7th. Finally, Bank of America assumed coverage on shares of California Water Service Group in a research report on Wednesday, December 11th. They set a "buy" rating and a $57.00 target price on the stock.

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.