First Republic Investment Management Inc. acquired a new position in shares of California Water Service Group (NYSE:CWT) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,944 shares of the utilities provider’s stock, valued at approximately $224,000.
Several other large investors also recently modified their holdings of CWT. Nuance Investments LLC raised its holdings in shares of California Water Service Group by 106.1% during the third quarter. Nuance Investments LLC now owns 661,848 shares of the utilities provider’s stock worth $25,250,000 after acquiring an additional 340,789 shares during the period. BlackRock Inc. raised its holdings in shares of California Water Service Group by 4.8% during the fourth quarter. BlackRock Inc. now owns 6,368,283 shares of the utilities provider’s stock worth $288,803,000 after acquiring an additional 289,527 shares during the period. Assenagon Asset Management S.A. acquired a new stake in California Water Service Group in the 4th quarter valued at $4,621,000. Impax Asset Management LTD increased its stake in California Water Service Group by 4.0% in the 3rd quarter. Impax Asset Management LTD now owns 1,912,267 shares of the utilities provider’s stock valued at $72,953,000 after buying an additional 73,467 shares during the last quarter. Finally, Chicago Equity Partners LLC acquired a new stake in California Water Service Group in the 4th quarter valued at $3,062,000. Institutional investors and hedge funds own 70.06% of the company’s stock.
Several equities research analysts have issued reports on the stock. UBS Group assumed coverage on shares of California Water Service Group in a research note on Thursday. They issued a “sell” rating and a $34.00 price target on the stock. Zacks Investment Research upgraded shares of California Water Service Group from a “sell” rating to a “hold” rating in a research note on Tuesday. ValuEngine upgraded shares of California Water Service Group from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, Hilliard Lyons lowered shares of California Water Service Group from a “neutral” rating to an “underperform” rating in a research note on Wednesday, January 17th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $37.25.
Shares of California Water Service Group (NYSE CWT) opened at $37.75 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.46 and a quick ratio of 0.45. California Water Service Group has a 52 week low of $32.75 and a 52 week high of $46.15. The stock has a market cap of $1,776.42, a price-to-earnings ratio of 26.96, a price-to-earnings-growth ratio of 4.32 and a beta of 0.62.
California Water Service Group (NYSE:CWT) last issued its quarterly earnings results on Thursday, March 1st. The utilities provider reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.06. California Water Service Group had a net margin of 10.07% and a return on equity of 9.97%. The firm had revenue of $162.00 million for the quarter, compared to analyst estimates of $155.89 million. During the same period in the previous year, the business earned $0.31 EPS. The company’s revenue was up 7.4% compared to the same quarter last year. equities research analysts anticipate that California Water Service Group will post 1.43 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Monday, February 12th were paid a dividend of $0.1875 per share. The ex-dividend date of this dividend was Friday, February 9th. This is a positive change from California Water Service Group’s previous quarterly dividend of $0.18. This represents a $0.75 annualized dividend and a dividend yield of 1.99%. California Water Service Group’s payout ratio is currently 53.57%.
ILLEGAL ACTIVITY NOTICE: This report was originally posted by Ticker Report and is the sole property of of Ticker Report. If you are accessing this report on another domain, it was illegally copied and reposted in violation of US & international copyright & trademark law. The correct version of this report can be accessed at https://www.tickerreport.com/banking-finance/3253200/first-republic-investment-management-inc-invests-224000-in-california-water-service-group-cwt.html.
California Water Service Group Profile
California Water Service Group is a holding company. The Company operates through the supply and distribution of water and providing water-related utility services segment. The Company, through its subsidiaries, provides non-regulated services and non-regulated services to private companies and municipalities.
Want to see what other hedge funds are holding CWT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for California Water Service Group (NYSE:CWT).
Receive News & Ratings for California Water Service Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for California Water Service Group and related companies with MarketBeat.com's FREE daily email newsletter.