Renaissance Technologies LLC Makes New Investment in California Water Service Group (NYSE:CWT)

Renaissance Technologies LLC bought a new position in shares of California Water Service Group (NYSE:CWT - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 45,992 shares of the utilities provider's stock, valued at approximately $2,085,000. Renaissance Technologies LLC owned 0.08% of California Water Service Group as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its position in shares of California Water Service Group by 55.7% during the third quarter. JPMorgan Chase & Co. now owns 161,661 shares of the utilities provider's stock worth $8,765,000 after acquiring an additional 57,811 shares during the period. Van ECK Associates Corp raised its position in California Water Service Group by 12.2% in the 4th quarter. Van ECK Associates Corp now owns 17,851 shares of the utilities provider's stock valued at $809,000 after purchasing an additional 1,942 shares in the last quarter. Geode Capital Management LLC raised its position in California Water Service Group by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 1,360,158 shares of the utilities provider's stock valued at $61,670,000 after purchasing an additional 22,192 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in shares of California Water Service Group by 36.9% in the 4th quarter. Teacher Retirement System of Texas now owns 21,550 shares of the utilities provider's stock valued at $977,000 after buying an additional 5,806 shares during the period. Finally, Exchange Traded Concepts LLC grew its position in shares of California Water Service Group by 66.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 24,736 shares of the utilities provider's stock worth $1,121,000 after buying an additional 9,894 shares in the last quarter. 82.78% of the stock is currently owned by institutional investors and hedge funds.

California Water Service Group Stock Up 2.1 %

Shares of NYSE CWT traded up $1.05 during mid-day trading on Tuesday, reaching $50.60. The company had a trading volume of 407,817 shares, compared to its average volume of 332,442. The firm has a 50 day simple moving average of $47.85 and a two-hundred day simple moving average of $47.86. California Water Service Group has a 52-week low of $41.64 and a 52-week high of $56.25. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 0.64. The stock has a market cap of $3.01 billion, a P/E ratio of 14.62, a PEG ratio of 0.46 and a beta of 0.56.

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

California Water Service Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Monday, February 10th were paid a $0.30 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.20 dividend on an annualized basis and a yield of 2.37%. This is a boost from California Water Service Group's previous quarterly dividend of $0.28. California Water Service Group's payout ratio is currently 36.70%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CWT shares. Seaport Res Ptn upgraded shares of California Water Service Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 11th. StockNews.com upgraded shares of California Water Service Group from a "sell" rating to a "hold" rating in a research note on Friday, April 11th. Finally, Wells Fargo & Company upgraded California Water Service Group from an "equal weight" rating to an "overweight" rating and cut their price target for the company from $56.00 to $52.00 in a research note on Tuesday, January 7th.

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.