California Water Service Group (NYSE:CWT) Shares Acquired by Northstar Asset Management Inc.

Northstar Asset Management Inc. increased its holdings in shares of California Water Service Group (NYSE:CWT - Free Report) by 9.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 94,843 shares of the utilities provider's stock after purchasing an additional 8,263 shares during the quarter. Northstar Asset Management Inc. owned 0.16% of California Water Service Group worth $4,299,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. CIBC Asset Management Inc increased its position in shares of California Water Service Group by 46.0% in the fourth quarter. CIBC Asset Management Inc now owns 5,897 shares of the utilities provider's stock worth $267,000 after acquiring an additional 1,858 shares in the last quarter. Principal Financial Group Inc. boosted its position in California Water Service Group by 4.1% during the 4th quarter. Principal Financial Group Inc. now owns 288,923 shares of the utilities provider's stock worth $13,097,000 after purchasing an additional 11,328 shares during the period. State of New Jersey Common Pension Fund D increased its holdings in California Water Service Group by 10.6% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 40,776 shares of the utilities provider's stock valued at $1,848,000 after purchasing an additional 3,920 shares in the last quarter. Allworth Financial LP raised its position in California Water Service Group by 3.9% in the fourth quarter. Allworth Financial LP now owns 12,400 shares of the utilities provider's stock valued at $534,000 after purchasing an additional 461 shares during the period. Finally, Asset Planning Inc purchased a new position in California Water Service Group in the fourth quarter valued at about $204,000. Hedge funds and other institutional investors own 82.78% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. StockNews.com raised California Water Service Group from a "sell" rating to a "hold" rating in a research report on Saturday, February 8th. Wells Fargo & Company upgraded California Water Service Group from an "equal weight" rating to an "overweight" rating and decreased their price target for the stock from $56.00 to $52.00 in a report on Tuesday, January 7th. Finally, Bank of America initiated coverage on shares of California Water Service Group in a research report on Wednesday, December 11th. They issued a "buy" rating and a $57.00 price objective for the company. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $53.25.

California Water Service Group Stock Up 0.4 %

Shares of California Water Service Group stock traded up $0.19 during trading hours on Friday, hitting $45.69. 296,105 shares of the company's stock traded hands, compared to its average volume of 366,921. California Water Service Group has a twelve month low of $41.64 and a twelve month high of $56.25. The company has a market cap of $2.72 billion, a PE ratio of 13.20, a PEG ratio of 0.46 and a beta of 0.52. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 0.64. The stock has a 50 day simple moving average of $44.85 and a 200-day simple moving average of $49.85.

California Water Service Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Monday, February 10th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, February 10th. This is an increase from California Water Service Group's previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a yield of 2.63%. California Water Service Group's payout ratio is currently 34.68%.

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.