Victory Capital Management Inc. Has $8.28 Million Stake in California Water Service Group (NYSE:CWT)

Victory Capital Management Inc. cut its stake in shares of California Water Service Group (NYSE:CWT - Free Report) by 9.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 182,713 shares of the utilities provider's stock after selling 18,758 shares during the period. Victory Capital Management Inc. owned approximately 0.31% of California Water Service Group worth $8,282,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CWT. Los Angeles Capital Management LLC acquired a new position in California Water Service Group in the third quarter valued at about $377,000. Entropy Technologies LP acquired a new position in California Water Service Group in the third quarter valued at about $588,000. Aigen Investment Management LP acquired a new position in California Water Service Group in the third quarter valued at about $227,000. CIBC Asset Management Inc acquired a new position in California Water Service Group in the third quarter valued at about $219,000. Finally, Cornercap Investment Counsel Inc. bought a new stake in shares of California Water Service Group in the third quarter valued at about $467,000. 82.78% of the stock is owned by institutional investors and hedge funds.

California Water Service Group Stock Down 1.2 %

CWT traded down $0.58 on Tuesday, hitting $46.87. 229,034 shares of the company were exchanged, compared to its average volume of 308,115. California Water Service Group has a 12 month low of $41.64 and a 12 month high of $56.25. The company has a market cap of $2.79 billion, a PE ratio of 13.55, a PEG ratio of 0.46 and a beta of 0.49. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.60 and a current ratio of 0.64. The stock's fifty day moving average is $45.15 and its 200-day moving average is $49.00.

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California Water Service Group (NYSE:CWT - Get Free Report) last released its 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). 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 quarter in the previous year, the company posted $0.52 EPS. Equities research analysts predict 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 disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Monday, February 10th were paid 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 of this dividend was Monday, February 10th. This represents a $1.20 annualized dividend and a yield of 2.56%. California Water Service Group's dividend payout ratio is currently 36.70%.

Analyst Upgrades and Downgrades

CWT has been the topic of a number of research reports. 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 report on Tuesday, January 7th. Bank of America initiated coverage on California Water Service Group in a report on Wednesday, December 11th. They issued a "buy" rating and a $57.00 price target on the stock. Finally, StockNews.com upgraded California Water Service Group from a "sell" rating to a "hold" rating in a report on Saturday, February 8th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $53.25.

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.