First National Corp MA ADV Sells 3,041 Shares of California Water Service Group (NYSE:CWT)

First National Corp MA ADV lowered its holdings in shares of California Water Service Group (NYSE:CWT) by 8.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,927 shares of the utilities provider’s stock after selling 3,041 shares during the period. First National Corp MA ADV’s holdings in California Water Service Group were worth $1,656,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Advisor Partners II LLC grew its stake in California Water Service Group by 4.6% during the first quarter. Advisor Partners II LLC now owns 4,248 shares of the utilities provider’s stock worth $247,000 after purchasing an additional 187 shares during the period. Allianz Asset Management GmbH grew its stake in California Water Service Group by 1.1% during the first quarter. Allianz Asset Management GmbH now owns 17,341 shares of the utilities provider’s stock worth $1,028,000 after purchasing an additional 196 shares during the period. Captrust Financial Advisors grew its stake in California Water Service Group by 6.8% during the second quarter. Captrust Financial Advisors now owns 3,208 shares of the utilities provider’s stock worth $178,000 after purchasing an additional 205 shares during the period. Green Alpha Advisors LLC grew its stake in California Water Service Group by 1.6% during the third quarter. Green Alpha Advisors LLC now owns 13,990 shares of the utilities provider’s stock worth $662,000 after purchasing an additional 226 shares during the period. Finally, Belpointe Asset Management LLC grew its stake in California Water Service Group by 58.6% during the first quarter. Belpointe Asset Management LLC now owns 731 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 270 shares during the period. Institutional investors and hedge funds own 82.78% of the company’s stock.

California Water Service Group Price Performance

Shares of NYSE CWT opened at $46.67 on Thursday. The stock has a market cap of $2.69 billion, a PE ratio of 52.44 and a beta of 0.49. California Water Service Group has a fifty-two week low of $44.83 and a fifty-two week high of $61.59. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.65 and a current ratio of 0.69. The stock has a fifty day moving average of $46.35 and a 200-day moving average of $48.67.

California Water Service Group (NYSE:CWT) last posted its quarterly earnings data on Thursday, February 29th. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.98). California Water Service Group had a return on equity of 3.75% and a net margin of 6.53%. The firm had revenue of $214.50 million during the quarter, compared to analysts’ expectations of $269.41 million. During the same quarter in the previous year, the company posted $0.35 earnings per share. California Water Service Group’s revenue for the quarter was up 6.8% compared to the same quarter last year. Equities research analysts anticipate that California Water Service Group will post 2.25 earnings per share for the current year.

California Water Service Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Monday, February 12th were given a dividend of $1.12 per share. This is a positive change from California Water Service Group’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Friday, February 9th. This represents a $4.48 dividend on an annualized basis and a yield of 9.60%. California Water Service Group’s dividend payout ratio is presently 125.84%.

Insider Buying and Selling at California Water Service Group

In other California Water Service Group news, Director Thomas M. Krummel sold 555 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $51.90, for a total transaction of $28,804.50. Following the transaction, the director now owns 26,066 shares in the company, valued at approximately $1,352,825.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.88% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CWT has been the subject of several recent analyst reports. Robert W. Baird decreased their target price on California Water Service Group from $56.00 to $52.00 and set an “outperform” rating for the company in a research note on Friday, March 1st. TheStreet cut California Water Service Group from a “b-” rating to a “c+” rating in a research note on Wednesday, February 14th. Finally, StockNews.com raised California Water Service Group to a “sell” rating in a research note on Saturday, March 9th. Three investment analysts have rated the stock with a sell rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $55.00.

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.