California Water Service Group (NYSE:CWT) Position Increased by Triodos Investment Management BV

Triodos Investment Management BV increased its position in California Water Service Group (NYSE:CWT - Free Report) by 10.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 493,000 shares of the utilities provider's stock after buying an additional 45,000 shares during the period. California Water Service Group comprises 1.8% of Triodos Investment Management BV's portfolio, making the stock its 28th largest holding. Triodos Investment Management BV owned approximately 0.83% of California Water Service Group worth $22,348,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of California Water Service Group by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 7,514,709 shares of the utilities provider's stock worth $340,642,000 after purchasing an additional 158,295 shares during the period. Geode Capital Management LLC increased its stake 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 during the last quarter. Norges Bank purchased a new position in California Water Service Group during the fourth quarter worth about $37,998,000. Charles Schwab Investment Management Inc. increased its stake in shares of California Water Service Group by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 722,163 shares of the utilities provider's stock valued at $32,736,000 after acquiring an additional 11,205 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC lifted its holdings in shares of California Water Service Group by 5.9% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 648,406 shares of the utilities provider's stock worth $29,392,000 after acquiring an additional 36,142 shares during the period. Institutional investors and hedge funds own 82.78% of the company's stock.

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California Water Service Group Stock Performance

CWT stock traded up $0.13 during trading on Tuesday, reaching $48.59. 71,185 shares of the company's stock were exchanged, compared to its average volume of 335,165. The company's fifty day moving average price is $45.77 and its 200-day moving average price is $48.44. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 0.64. The firm has a market cap of $2.89 billion, a PE ratio of 14.10, a P/E/G ratio of 0.46 and a beta of 0.49. California Water Service Group has a 1-year low of $41.64 and a 1-year high of $56.25.

California Water Service Group (NYSE:CWT - Get Free Report) last issued its quarterly earnings results 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). The firm had revenue of $222.20 million for the quarter, compared to analyst estimates of $216.37 million. California Water Service Group had a net margin of 19.56% and a return on equity of 13.24%. During the same quarter last year, the business posted $0.52 earnings per share. On average, research analysts expect that California Water Service Group will post 3.15 EPS for the current fiscal year.

California Water Service Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Monday, February 10th were given a $0.30 dividend. This is a positive change from California Water Service Group's previous quarterly dividend of $0.28. The ex-dividend date was Monday, February 10th. This represents a $1.20 annualized dividend and a yield of 2.47%. California Water Service Group's payout ratio is 36.70%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. StockNews.com raised shares of California Water Service Group from a "sell" rating to a "hold" rating in a research note on Saturday, February 8th. Bank of America started coverage on shares of California Water Service Group in a report on Wednesday, December 11th. They issued a "buy" rating and a $57.00 price objective on the stock. Finally, Wells Fargo & Company upgraded California Water Service Group from an "equal weight" rating to an "overweight" rating and reduced their target price for the company from $56.00 to $52.00 in a research note on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $53.25.

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.