Assenagon Asset Management S.A. Raises Stock Position in California Water Service Group (NYSE:CWT)

Assenagon Asset Management S.A. increased its holdings in California Water Service Group (NYSE:CWT - Free Report) by 79.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 252,833 shares of the utilities provider's stock after acquiring an additional 112,118 shares during the period. Assenagon Asset Management S.A. owned about 0.44% of California Water Service Group worth $13,709,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CWT. Wulff Hansen & CO. lifted its position in shares of California Water Service Group by 4,565.4% during the second quarter. Wulff Hansen & CO. now owns 1,053,688 shares of the utilities provider's stock worth $51,093,000 after acquiring an additional 1,031,103 shares in the last quarter. Nuance Investments LLC grew its stake in shares of California Water Service Group by 40.8% during the first quarter. Nuance Investments LLC now owns 3,013,749 shares of the utilities provider's stock valued at $140,079,000 after buying an additional 872,865 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of California Water Service Group by 3.3% during the first quarter. Vanguard Group Inc. now owns 7,198,981 shares of the utilities provider's stock valued at $334,609,000 after buying an additional 232,344 shares during the last quarter. Zimmer Partners LP bought a new position in shares of California Water Service Group during the first quarter valued at about $7,957,000. Finally, Marshall Wace LLP grew its stake in shares of California Water Service Group by 354.9% during the second quarter. Marshall Wace LLP now owns 76,851 shares of the utilities provider's stock valued at $3,727,000 after buying an additional 59,956 shares during the last quarter. 82.78% of the stock is owned by institutional investors.

California Water Service Group Stock Performance

Shares of NYSE:CWT traded down $0.52 during midday trading on Friday, hitting $51.62. The company had a trading volume of 146,163 shares, compared to its average volume of 324,786. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.52 and a quick ratio of 0.49. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 20.65 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 company has a fifty day moving average of $53.75 and a two-hundred day moving average of $51.35.

California Water Service Group (NYSE:CWT - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.42 by $0.28. California Water Service Group had a net margin of 17.78% and a return on equity of 11.94%. The business had revenue of $244.30 million during the quarter, compared to the consensus estimate of $216.25 million. During the same quarter in the prior year, the firm earned $0.17 EPS. The business's revenue was up 25.9% on a year-over-year basis. On average, equities research analysts expect that California Water Service Group will post 3.33 EPS for the current fiscal year.

California Water Service Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 12th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend was Monday, August 12th. California Water Service Group's payout ratio is 44.80%.

Insider Activity at California Water Service Group

In related news, Director Thomas M. Krummel sold 555 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $52.91, for a total value of $29,365.05. Following the sale, the director now directly owns 23,061 shares of the company's stock, valued at $1,220,157.51. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders sold 1,665 shares of company stock valued at $90,093. Insiders own 0.73% of the company's stock.

Analysts Set New Price Targets

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

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.