Thrivent Financial for Lutherans Acquires 45,825 Shares of California Water Service Group (NYSE:CWT)

Thrivent Financial for Lutherans raised its position in California Water Service Group (NYSE:CWT - Free Report) by 95.6% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 93,769 shares of the utilities provider's stock after acquiring an additional 45,825 shares during the period. Thrivent Financial for Lutherans owned approximately 0.16% of California Water Service Group worth $5,084,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Arizona State Retirement System raised its stake in shares of California Water Service Group by 1.8% in the second quarter. Arizona State Retirement System now owns 16,147 shares of the utilities provider's stock worth $783,000 after purchasing an additional 287 shares during the last quarter. Quadrature Capital Ltd lifted its stake in California Water Service Group by 4.6% during the 1st quarter. Quadrature Capital Ltd now owns 6,661 shares of the utilities provider's stock valued at $309,000 after acquiring an additional 295 shares in the last quarter. Creative Financial Designs Inc. ADV boosted its holdings in California Water Service Group by 2.7% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 12,041 shares of the utilities provider's stock worth $653,000 after acquiring an additional 316 shares during the last quarter. Blue Trust Inc. grew its stake in shares of California Water Service Group by 255.6% in the 3rd quarter. Blue Trust Inc. now owns 505 shares of the utilities provider's stock worth $27,000 after acquiring an additional 363 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of California Water Service Group by 50.2% in 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. Institutional investors own 82.78% of the company's stock.

Insider Activity

In related news, Director Thomas M. Krummel sold 555 shares of California Water Service Group stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $55.09, for a total value of $30,574.95. Following the completion of the transaction, the director now directly owns 21,951 shares in the company, valued at approximately $1,209,280.59. The trade was a 2.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.73% of the company's stock.

California Water Service Group Stock Performance

Shares of NYSE:CWT traded up $0.23 during midday trading on Friday, reaching $51.60. The company had a trading volume of 255,354 shares, compared to its average volume of 304,767. The stock has a market cap of $3.07 billion, a P/E ratio of 14.91 and a beta of 0.49. The company's 50 day moving average price is $52.43 and its 200 day moving average price is $51.88. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 0.64. California Water Service Group has a 52-week low of $43.50 and a 52-week high of $56.25.

California Water Service Group (NYSE:CWT - Get Free Report) last released its earnings results on Thursday, October 31st. The utilities provider reported $1.03 earnings per share for the quarter, missing analysts' consensus estimates of $1.05 by ($0.02). The company had revenue of $299.60 million during the quarter, compared to analysts' expectations of $289.55 million. California Water Service Group had a net margin of 19.56% and a return on equity of 13.24%. The firm's revenue was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.60 earnings per share. As a group, sell-side analysts anticipate that California Water Service Group will post 3.29 EPS for the current fiscal year.

California Water Service Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Tuesday, November 12th were paid a $0.28 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $1.12 annualized dividend and a dividend yield of 2.17%. California Water Service Group's payout ratio is presently 32.37%.

Analyst Ratings Changes

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