Sei Investments Co. Has $216,000 Holdings in California Water Service Group (NYSE:CWT)

Sei Investments Co. trimmed its holdings in shares of California Water Service Group (NYSE:CWT - Free Report) by 72.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,768 shares of the utilities provider's stock after selling 12,598 shares during the quarter. Sei Investments Co.'s holdings in California Water Service Group were worth $216,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. FMR LLC lifted its stake in California Water Service Group by 70.5% in the 3rd quarter. FMR LLC now owns 63,625 shares of the utilities provider's stock valued at $3,450,000 after acquiring an additional 26,299 shares in the last quarter. XTX Topco Ltd lifted its position in shares of California Water Service Group by 58.3% in the third quarter. XTX Topco Ltd now owns 9,475 shares of the utilities provider's stock worth $514,000 after purchasing an additional 3,489 shares in the last quarter. Barclays PLC boosted its holdings in California Water Service Group by 135.8% during the third quarter. Barclays PLC now owns 119,645 shares of the utilities provider's stock worth $6,486,000 after purchasing an additional 68,914 shares during the last quarter. Geode Capital Management LLC grew its position in California Water Service Group by 1.8% in the third quarter. Geode Capital Management LLC now owns 1,337,966 shares of the utilities provider's stock valued at $72,559,000 after purchasing an additional 24,275 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in California Water Service Group by 117.0% in the 3rd quarter. Franklin Resources Inc. now owns 58,258 shares of the utilities provider's stock valued at $3,100,000 after buying an additional 31,412 shares during the last quarter. 82.78% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Wells Fargo & Company upgraded California Water Service Group from an "equal weight" rating to an "overweight" rating and decreased their price objective for the company from $56.00 to $52.00 in a report on Tuesday, January 7th. Seaport Res Ptn raised California Water Service Group from a "hold" rating to a "strong-buy" rating in a research report on Friday. Finally, StockNews.com upgraded California Water Service Group from a "sell" rating to a "hold" rating in a research note on Friday. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $54.67.

California Water Service Group Stock Performance

NYSE:CWT traded down $0.20 during mid-day trading on Tuesday, hitting $50.81. The stock had a trading volume of 328,883 shares, compared to its average volume of 340,815. The company's 50 day simple moving average is $46.75 and its 200 day simple moving average is $48.02. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 0.46 and a beta of 0.56. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.60 and a current ratio of 0.64. California Water Service Group has a twelve month low of $41.64 and a twelve month high of $56.25.

California Water Service Group (NYSE:CWT - Get Free Report) last issued its earnings results on Thursday, February 27th. The utilities provider reported $0.33 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 business had revenue of $222.20 million for the quarter, compared to the consensus estimate of $216.37 million. During the same quarter in the prior year, the firm posted $0.52 earnings per share. On average, equities research analysts forecast that California Water Service Group will post 3.15 earnings per share for the current year.

California Water Service Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Monday, February 10th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date was Monday, February 10th. This is a boost from California Water Service Group's previous quarterly dividend of $0.28. California Water Service Group's dividend payout ratio (DPR) is currently 36.70%.

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.