Vontobel Holding Ltd. Raises Stock Holdings in California Water Service Group (NYSE:CWT)

Vontobel Holding Ltd. grew its holdings in shares of California Water Service Group (NYSE:CWT - Free Report) by 134.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 47,155 shares of the utilities provider's stock after purchasing an additional 27,058 shares during the period. Vontobel Holding Ltd. owned approximately 0.08% of California Water Service Group worth $2,138,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CWT. Van ECK Associates Corp raised its position in shares of California Water Service Group by 12.2% in the 4th quarter. Van ECK Associates Corp now owns 17,851 shares of the utilities provider's stock worth $809,000 after purchasing an additional 1,942 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in California Water Service Group by 1.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 28,800 shares of the utilities provider's stock valued at $1,306,000 after purchasing an additional 400 shares in the last quarter. First National Corp MA ADV bought a new stake in California Water Service Group during the 4th quarter valued at about $1,006,000. Canvas Wealth Advisors LLC raised its holdings in California Water Service Group by 38.5% in the fourth quarter. Canvas Wealth Advisors LLC now owns 7,901 shares of the utilities provider's stock worth $358,000 after buying an additional 2,196 shares during the last quarter. Finally, Entropy Technologies LP lifted its stake in shares of California Water Service Group by 35.9% in the fourth quarter. Entropy Technologies LP now owns 14,728 shares of the utilities provider's stock worth $668,000 after buying an additional 3,887 shares in the last quarter. 82.78% of the stock is owned by institutional investors.

California Water Service Group Stock Performance

Shares of CWT traded up $0.19 during mid-day trading on Friday, hitting $45.69. 296,105 shares of the company traded hands, compared to its average volume of 366,921. California Water Service Group has a 1 year low of $41.64 and a 1 year 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. The stock has a 50-day moving average price of $44.85 and a two-hundred day moving average price of $49.85. The stock has a market cap of $2.72 billion, a price-to-earnings ratio of 13.20, a P/E/G ratio of 0.46 and a beta of 0.52.

California Water Service Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Monday, February 10th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.63%. This is a boost from California Water Service Group's previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, February 10th. California Water Service Group's dividend payout ratio is presently 34.68%.

Analysts Set New Price Targets

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

California Water Service Group 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.