Allspring Global Investments Holdings LLC Has $2.70 Million Position in California Water Service Group (NYSE:CWT)

Allspring Global Investments Holdings LLC raised its stake in shares of California Water Service Group (NYSE:CWT - Free Report) by 95.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,861 shares of the utilities provider's stock after buying an additional 24,402 shares during the period. Allspring Global Investments Holdings LLC owned 0.09% of California Water Service Group worth $2,703,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Maryland State Retirement & Pension System raised its stake in shares of California Water Service Group by 0.8% in the 1st quarter. Maryland State Retirement & Pension System now owns 70,104 shares of the utilities provider's stock valued at $3,081,000 after acquiring an additional 529 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in California Water Service Group by 17.0% in the 1st quarter. Commonwealth Equity Services LLC now owns 11,515 shares of the utilities provider's stock worth $535,000 after acquiring an additional 1,674 shares during the period. BNP Paribas Financial Markets lifted its position in California Water Service Group by 6.4% during the 1st quarter. BNP Paribas Financial Markets now owns 46,440 shares of the utilities provider's stock worth $2,159,000 after acquiring an additional 2,794 shares during the last quarter. Daiwa Securities Group Inc. grew its position in California Water Service Group by 51.8% during the first quarter. Daiwa Securities Group Inc. now owns 7,076 shares of the utilities provider's stock worth $329,000 after buying an additional 2,414 shares in the last quarter. Finally, Texas Permanent School Fund Corp raised its holdings in California Water Service Group by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 50,508 shares of the utilities provider's stock valued at $2,348,000 after acquiring an additional 654 shares in the last quarter. Institutional investors own 82.78% of the company's stock.

Insider Transactions at California Water Service Group

In other news, Director Thomas M. Krummel sold 555 shares of California Water Service Group stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $54.33, for a total value of $30,153.15. Following the sale, the director now directly owns 22,506 shares in the company, valued at $1,222,750.98. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 1,665 shares of company stock valued at $90,093 over the last quarter. Corporate insiders own 0.73% of the company's stock.

California Water Service Group Price Performance

NYSE CWT traded down $0.02 on Wednesday, reaching $51.28. The company's stock had a trading volume of 21,014 shares, compared to its average volume of 322,543. California Water Service Group has a 52 week low of $43.50 and a 52 week high of $56.25. The company has a current ratio of 0.52, a quick ratio of 0.49 and a debt-to-equity ratio of 0.68. The firm has a market cap of $2.96 billion, a PE ratio of 20.52 and a beta of 0.49. The business has a 50-day moving average price of $53.62 and a 200 day moving average price of $51.44.

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

California Water Service Group Announces Dividend

The firm also recently disclosed 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 dividend yield of 2.18%. California Water Service Group's dividend payout ratio is presently 44.80%.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company upgraded California Water Service Group from an "underweight" rating to an "equal weight" rating and boosted their price objective for the company from $50.00 to $57.00 in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $53.67.

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.