New Age Alpha Advisors LLC Makes New Investment in California Water Service Group (NYSE:CWT)

New Age Alpha Advisors LLC bought a new position in California Water Service Group (NYSE:CWT - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 98,034 shares of the utilities provider's stock, valued at approximately $4,444,000. New Age Alpha Advisors LLC owned 0.16% of California Water Service Group as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the business. Parkworth Wealth Management Inc. acquired a new position in California Water Service Group in the fourth quarter valued at $50,000. Millstone Evans Group LLC purchased a new stake in shares of California Water Service Group during the 4th quarter valued at about $102,000. Virtu Financial LLC acquired a new position in California Water Service Group during the 4th quarter worth approximately $200,000. Ieq Capital LLC acquired a new position in California Water Service Group during the 4th quarter worth approximately $202,000. Finally, Asset Planning Inc purchased a new position in California Water Service Group in the 4th quarter worth approximately $204,000. 82.78% of the stock is currently owned by institutional investors and hedge funds.

California Water Service Group Price Performance

Shares of NYSE:CWT traded down $0.11 on Wednesday, reaching $48.61. 75,255 shares of the company traded hands, compared to its average volume of 368,771. The stock has a market capitalization of $2.89 billion, a PE ratio of 14.05, a P/E/G ratio of 0.46 and a beta of 0.49. 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 company's 50 day moving average is $45.86 and its 200-day moving average is $48.40. California Water Service Group has a fifty-two week low of $41.64 and a fifty-two week high of $56.25.

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California Water Service Group (NYSE:CWT - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The utilities provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.05). California Water Service Group had a net margin of 19.56% and a return on equity of 13.24%. The business had revenue of $222.20 million for the quarter, compared to analyst estimates of $216.37 million. During the same period in the previous year, the firm posted $0.52 earnings per share. As a group, analysts anticipate that California Water Service Group will post 3.15 earnings per share for the current fiscal year.

California Water Service Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Monday, February 10th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.47%. This is a boost from California Water Service Group's previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Monday, February 10th. California Water Service Group's payout ratio is presently 36.70%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CWT. Bank of America began 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. StockNews.com upgraded California Water Service Group from a "sell" rating to a "hold" rating in a report on Saturday, February 8th. Finally, Wells Fargo & Company upgraded shares of California Water Service Group from an "equal weight" rating to an "overweight" rating and cut their target price for the company from $56.00 to $52.00 in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $53.25.

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.