Wealthfront Advisers LLC Invests $2.09 Million in California Water Service Group (NYSE:CWT)

Wealthfront Advisers LLC purchased a new position in California Water Service Group (NYSE:CWT - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 46,056 shares of the utilities provider's stock, valued at approximately $2,088,000. Wealthfront Advisers LLC owned 0.08% of California Water Service Group at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Bank of New York Mellon Corp grew its position in shares of California Water Service Group by 21.2% in the 4th quarter. Bank of New York Mellon Corp now owns 634,179 shares of the utilities provider's stock worth $28,747,000 after buying an additional 110,962 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of California Water Service Group in the 4th quarter worth approximately $4,704,000. Barclays PLC grew its position in shares of California Water Service Group by 135.8% in the 3rd quarter. Barclays PLC now owns 119,645 shares of the utilities provider's stock worth $6,486,000 after buying an additional 68,914 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of California Water Service Group by 55.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 161,661 shares of the utilities provider's stock worth $8,765,000 after buying an additional 57,811 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of California Water Service Group by 7.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 710,958 shares of the utilities provider's stock worth $38,548,000 after buying an additional 48,055 shares during the last quarter. 82.78% of the stock is owned by hedge funds and other institutional investors.

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California Water Service Group Stock Down 1.3 %

California Water Service Group stock traded down $0.59 during mid-day trading on Wednesday, hitting $46.29. The company had a trading volume of 353,280 shares, compared to its average volume of 308,056. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 0.64. The stock's 50 day moving average price is $45.20 and its two-hundred day moving average price is $48.94. 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 capitalization of $2.75 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 0.46 and a beta of 0.49.

California Water Service Group (NYSE:CWT - Get Free Report) last released its earnings results on Thursday, February 27th. The utilities provider reported $0.33 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 during the quarter, compared to the consensus estimate of $216.37 million. During the same period last year, the firm posted $0.52 earnings per share. As a group, sell-side analysts anticipate that California Water Service Group will post 3.15 earnings per share for the current fiscal year.

California Water Service Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Monday, February 10th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.59%. This is an increase from California Water Service Group's previous quarterly dividend of $0.28. The ex-dividend date was Monday, February 10th. California Water Service Group's payout ratio is 36.70%.

Wall Street Analyst Weigh In

CWT has been the topic of a number of recent analyst reports. Bank of America initiated coverage on California Water Service Group in a research report on Wednesday, December 11th. They issued a "buy" rating and a $57.00 price objective on the stock. Wells Fargo & Company upgraded California Water Service Group from an "equal weight" rating to an "overweight" rating and dropped their price target for the company from $56.00 to $52.00 in a research report on Tuesday, January 7th. Finally, StockNews.com upgraded California Water Service Group from a "sell" rating to a "hold" rating in a research report on Saturday, February 8th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target 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.