Van Lanschot Kempen Investment Management N.V. Takes $4.76 Million Position in California Water Service Group (NYSE:CWT)

Van Lanschot Kempen Investment Management N.V. purchased a new position in shares of California Water Service Group (NYSE:CWT - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 105,066 shares of the utilities provider's stock, valued at approximately $4,763,000. Van Lanschot Kempen Investment Management N.V. owned 0.18% of California Water Service Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of CWT. MetLife Investment Management LLC grew its position in shares of California Water Service Group by 7.0% during the 4th quarter. MetLife Investment Management LLC now owns 35,292 shares of the utilities provider's stock worth $1,600,000 after purchasing an additional 2,315 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of California Water Service Group by 4.9% in the fourth quarter. First Trust Advisors LP now owns 1,689,977 shares of the utilities provider's stock valued at $76,607,000 after buying an additional 79,658 shares during the period. GeoWealth Management LLC acquired a new stake in California Water Service Group during the fourth quarter worth approximately $124,000. CANADA LIFE ASSURANCE Co increased its stake in California Water Service Group by 1.4% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 129,765 shares of the utilities provider's stock worth $5,876,000 after acquiring an additional 1,731 shares during the period. Finally, Mariner LLC raised its holdings in California Water Service Group by 36.1% in the 4th quarter. Mariner LLC now owns 31,276 shares of the utilities provider's stock valued at $1,418,000 after acquiring an additional 8,299 shares in the last quarter. Institutional investors and hedge funds own 82.78% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. StockNews.com raised California Water Service Group from a "sell" rating to a "hold" rating in a research note on Friday, April 11th. Seaport Res Ptn upgraded shares of California Water Service Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. Finally, Wells Fargo & Company upgraded shares of California Water Service Group from an "equal weight" rating to an "overweight" rating and lowered their price objective for the company from $56.00 to $52.00 in a research report on Tuesday, January 7th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $54.67.

California Water Service Group Price Performance

Shares of California Water Service Group stock traded down $0.22 during midday trading on Friday, hitting $49.83. 315,570 shares of the company traded hands, compared to its average volume of 332,383. The firm's fifty day moving average price is $47.76 and its 200-day moving average price is $47.94. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 0.46 and a beta of 0.56. California Water Service Group has a 12 month low of $41.64 and a 12 month high of $56.25. 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 (NYSE:CWT - Get Free Report) last posted its earnings results on Thursday, February 27th. The utilities provider reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $222.20 million for the quarter, compared to the consensus estimate of $216.37 million. During the same period in the previous year, the firm posted $0.52 EPS. As a group, sell-side 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 firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Monday, February 10th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, February 10th. This is an increase from California Water Service Group's previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a yield of 2.41%. 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.