IQ EQ FUND MANAGEMENT IRELAND Ltd Has $3.86 Million Stock Position in California Water Service Group (NYSE:CWT)

IQ EQ FUND MANAGEMENT IRELAND Ltd trimmed its stake in California Water Service Group (NYSE:CWT - Free Report) by 13.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 71,261 shares of the utilities provider's stock after selling 11,006 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd owned 0.12% of California Water Service Group worth $3,864,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in CWT. CWM LLC increased its holdings in California Water Service Group by 129.1% in the third quarter. CWM LLC now owns 3,090 shares of the utilities provider's stock worth $168,000 after buying an additional 1,741 shares during the last quarter. GAMMA Investing LLC grew its holdings in California Water Service Group by 50.2% during the third quarter. GAMMA Investing LLC now owns 1,236 shares of the utilities provider's stock valued at $67,000 after purchasing an additional 413 shares during the last quarter. Handelsbanken Fonder AB grew its holdings in California Water Service Group by 25.9% during the third quarter. Handelsbanken Fonder AB now owns 19,454 shares of the utilities provider's stock valued at $1,055,000 after purchasing an additional 4,000 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in California Water Service Group during the second quarter valued at approximately $85,000. Finally, Algert Global LLC acquired a new position in California Water Service Group during the second quarter valued at approximately $282,000. 82.78% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other California Water Service Group news, Director Thomas M. Krummel sold 555 shares of California Water Service Group stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $52.91, for a total transaction of $29,365.05. Following the completion of the transaction, the director now directly owns 23,061 shares of the company's stock, valued at approximately $1,220,157.51. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 1,665 shares of company stock valued at $90,093 over the last ninety days. 0.73% of the stock is owned by company insiders.

Analyst Ratings Changes

Separately, Wells Fargo & Company upgraded California Water Service Group from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $50.00 to $57.00 in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $53.67.

California Water Service Group Stock Performance

Shares of California Water Service Group stock traded down $0.94 during midday trading on Thursday, hitting $53.68. The company had a trading volume of 156,880 shares, compared to its average volume of 327,209. The business's 50 day simple moving average is $53.79 and its two-hundred day simple moving average is $50.98. The stock has a market cap of $3.10 billion, a PE ratio of 21.58 and a beta of 0.49. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.52 and a quick ratio of 0.49. California Water Service Group has a 1-year low of $43.50 and a 1-year high of $56.25.

California Water Service Group (NYSE:CWT - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.28. The business had revenue of $244.30 million for the quarter, compared to the consensus estimate of $216.25 million. California Water Service Group had a net margin of 17.78% and a return on equity of 11.94%. California Water Service Group's quarterly revenue was up 25.9% on a year-over-year basis. During the same quarter last year, the company posted $0.17 earnings per share. As a group, equities analysts predict that California Water Service Group will post 3.33 EPS for the current fiscal year.

California Water Service Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 12th were given a $0.28 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.12 annualized dividend and a yield of 2.09%. California Water Service Group's dividend payout ratio (DPR) is currently 44.80%.

California Water Service Group 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.