Thrivent Financial for Lutherans Reduces Holdings in California Water Service Group $CWT

Thrivent Financial for Lutherans lowered its position in California Water Service Group (NYSE:CWT) by 31.9% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 44,644 shares of the utilities provider’s stock after selling 20,904 shares during the period. Thrivent Financial for Lutherans owned 0.07% of California Water Service Group worth $2,049,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its position in shares of California Water Service Group by 3,318.8% in the third quarter. Farther Finance Advisors LLC now owns 547 shares of the utilities provider’s stock valued at $25,000 after buying an additional 531 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in California Water Service Group by 109.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 697 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 365 shares in the last quarter. Whittier Trust Co. purchased a new stake in California Water Service Group during the 2nd quarter valued at about $36,000. Mather Group LLC. acquired a new stake in California Water Service Group in the 3rd quarter valued at about $70,000. Finally, GAMMA Investing LLC lifted its stake in California Water Service Group by 33.8% in the 3rd quarter. GAMMA Investing LLC now owns 2,026 shares of the utilities provider’s stock worth $93,000 after purchasing an additional 512 shares in the last quarter. Institutional investors and hedge funds own 82.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Robert W. Baird set a $55.00 price target on California Water Service Group in a research report on Friday, October 31st. Weiss Ratings reissued a “hold (c)” rating on shares of California Water Service Group in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $55.00.

California Water Service Group Stock Performance

California Water Service Group stock opened at $44.08 on Thursday. The firm has a 50 day simple moving average of $44.02 and a 200-day simple moving average of $45.52. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of 19.25, a price-to-earnings-growth ratio of 2.01 and a beta of 0.64. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.55 and a quick ratio of 0.52. California Water Service Group has a 1-year low of $41.29 and a 1-year high of $51.63.

California Water Service Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 20th. Investors of record on Monday, February 9th will be issued a $0.335 dividend. This is an increase from California Water Service Group’s previous quarterly dividend of $0.30. The ex-dividend date is Monday, February 9th. This represents a $1.34 annualized dividend and a yield of 3.0%. California Water Service Group’s payout ratio is presently 58.52%.

California Water Service Group Company Profile

California Water Service Group (NYSE: CWT) is a publicly traded holding company that provides regulated water utility services through its subsidiaries. The company delivers safe, reliable drinking water and wastewater management to residential, commercial, industrial and municipal customers across California, Hawaii and New Mexico. Its principal operating units include California Water Service, New Mexico Water Service and Hawaii Water Service, each responsible for end?to?end water supply operations—from source development and treatment to distribution and customer service.

Founded in 1926 as the California Water Service Company, the group has grown to become one of the largest investor?owned water utilities in the United States by customer count.