Martingale Asset Management L P Has $3.67 Million Holdings in California Water Service Group (NYSE:CWT)

Martingale Asset Management L P boosted its holdings in shares of California Water Service Group (NYSE:CWT - Free Report) by 22.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 67,711 shares of the utilities provider's stock after acquiring an additional 12,534 shares during the quarter. Martingale Asset Management L P owned 0.11% of California Water Service Group worth $3,671,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of CWT. Price T Rowe Associates Inc. MD boosted its holdings in shares of California Water Service Group by 1.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 85,049 shares of the utilities provider's stock worth $3,954,000 after purchasing an additional 1,495 shares during the period. Tidal Investments LLC acquired a new stake in shares of California Water Service Group during the 1st quarter valued at $535,000. Cetera Advisors LLC acquired a new position in shares of California Water Service Group in the first quarter worth $272,000. GAMMA Investing LLC increased its stake in shares of California Water Service Group by 109.9% in the second quarter. GAMMA Investing LLC now owns 823 shares of the utilities provider's stock worth $40,000 after acquiring an additional 431 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC raised its holdings in shares of California Water Service Group by 16.9% during the second quarter. Kingswood Wealth Advisors LLC now owns 6,925 shares of the utilities provider's stock worth $336,000 after acquiring an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 82.78% of the company's stock.

Insider Activity

In related news, VP Michael B. Luu sold 985 shares of the firm'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 transaction, the vice president now directly owns 20,354 shares in the company, valued at approximately $1,048,231. This trade represents a 4.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Thomas M. Krummel sold 555 shares of the business's stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $55.09, for a total transaction of $30,574.95. Following the transaction, the director now directly owns 21,951 shares of the company's stock, 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. Insiders own 0.73% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com lowered California Water Service Group from a "hold" rating to a "sell" rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $53.67.

California Water Service Group Price Performance

NYSE:CWT remained flat at $51.19 during trading hours on Friday. 153,268 shares of the company were exchanged, compared to its average volume of 323,789. 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 market cap of $3.04 billion, a P/E ratio of 14.79 and a beta of 0.49. California Water Service Group has a 12-month low of $43.50 and a 12-month high of $56.25. The business has a 50 day moving average of $52.09 and a 200-day moving average of $51.84.

California Water Service Group (NYSE:CWT - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The utilities provider reported $1.03 earnings per share for the quarter, missing analysts' consensus estimates of $1.05 by ($0.02). The company had revenue of $299.60 million during 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%. California Water Service Group's quarterly revenue was up 17.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.60 EPS. On average, sell-side analysts predict that California Water Service Group will post 3.29 EPS for the current fiscal year.

California Water Service Group Dividend Announcement

The business also recently declared 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. The ex-dividend date was Tuesday, November 12th. This represents a $1.12 annualized dividend and a yield of 2.19%. California Water Service Group's dividend payout ratio (DPR) is presently 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.