Kovitz Investment Group Partners LLC Buys Shares of 40,229 California Water Service Group (NYSE:CWT)

Kovitz Investment Group Partners LLC bought a new stake in California Water Service Group (NYSE:CWT - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 40,229 shares of the utilities provider's stock, valued at approximately $2,152,000. Kovitz Investment Group Partners LLC owned approximately 0.07% of California Water Service Group as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Penn Mutual Asset Management purchased a new position in California Water Service Group during the third quarter worth about $239,000. Centiva Capital LP purchased a new position in shares of California Water Service Group during the 3rd quarter worth about $860,000. ClearAlpha Technologies LP acquired a new stake in shares of California Water Service Group in the third quarter worth approximately $1,001,000. Atom Investors LP boosted its position in shares of California Water Service Group by 118.8% in the third quarter. Atom Investors LP now owns 24,473 shares of the utilities provider's stock worth $1,327,000 after acquiring an additional 13,290 shares during the last quarter. Finally, Verition Fund Management LLC grew its holdings in California Water Service Group by 188.1% in the third quarter. Verition Fund Management LLC now owns 13,299 shares of the utilities provider's stock valued at $721,000 after purchasing an additional 8,683 shares during the period. Institutional investors and hedge funds own 82.78% of the company's stock.

California Water Service Group Stock Up 0.7 %

CWT stock traded up $0.33 during midday trading on Tuesday, hitting $48.63. 385,845 shares of the company's stock were exchanged, compared to its average volume of 325,049. The firm has a 50 day moving average price of $51.59 and a 200-day moving average price of $51.67. California Water Service Group has a 12-month low of $43.50 and a 12-month high of $56.25. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of 13.87 and a beta of 0.50. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 0.64.

California Water Service Group (NYSE:CWT - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The utilities provider reported $1.03 EPS for the quarter, missing analysts' consensus estimates of $1.05 by ($0.02). The company had revenue of $299.60 million for the quarter, compared to the consensus estimate of $289.55 million. California Water Service Group had a net margin of 19.56% and a return on equity of 13.24%. The company's revenue was up 17.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.60 earnings per share. On average, analysts anticipate that California Water Service Group will post 3.29 EPS for the current year.

California Water Service Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Tuesday, November 12th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend was Tuesday, November 12th. California Water Service Group's dividend payout ratio is presently 32.37%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded California Water Service Group from a "sell" rating to a "hold" rating in a report on Thursday, December 5th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $53.67.

Insider Activity

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

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.