SG Americas Securities LLC decreased its position in shares of California Water Service Group (NYSE:CWT) by 57.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,045 shares of the utilities provider’s stock after selling 10,795 shares during the period. SG Americas Securities LLC’s holdings in California Water Service Group were worth $437,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of CWT. BlackRock Inc. grew its position in shares of California Water Service Group by 2.1% during the fourth quarter. BlackRock Inc. now owns 7,470,871 shares of the utilities provider’s stock valued at $356,064,000 after purchasing an additional 155,103 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new position in shares of California Water Service Group during the fourth quarter valued at about $6,692,000. Norges Bank purchased a new position in shares of California Water Service Group during the fourth quarter valued at about $6,293,000. Millennium Management LLC purchased a new position in shares of California Water Service Group during the fourth quarter valued at about $4,982,000. Finally, WINTON GROUP Ltd grew its position in shares of California Water Service Group by 26.4% during the fourth quarter. WINTON GROUP Ltd now owns 322,690 shares of the utilities provider’s stock valued at $15,379,000 after purchasing an additional 67,453 shares in the last quarter. Hedge funds and other institutional investors own 72.81% of the company’s stock.
Shares of NYSE:CWT opened at $50.69 on Friday. The company has a quick ratio of 0.49, a current ratio of 0.50 and a debt-to-equity ratio of 1.00. California Water Service Group has a 12 month low of $38.45 and a 12 month high of $55.05. The stock has a market capitalization of $2.44 billion, a P/E ratio of 37.27, a price-to-earnings-growth ratio of 3.64 and a beta of 0.35.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Monday, May 6th were issued a $0.1975 dividend. This represents a $0.79 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date was Friday, May 3rd. California Water Service Group’s payout ratio is 58.09%.
In related news, Director Lester A. Snow sold 1,000 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $53.69, for a total value of $53,690.00. Following the completion of the transaction, the director now owns 18,195 shares of the company’s stock, valued at approximately $976,889.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.99% of the stock is currently owned by company insiders.
A number of research analysts have recently weighed in on the company. Wells Fargo & Co upgraded California Water Service Group to a “market perform” rating in a research report on Thursday, April 25th. ValuEngine downgraded shares of California Water Service Group from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 11th. Finally, Zacks Investment Research raised shares of California Water Service Group from a “sell” rating to a “hold” rating in a report on Tuesday, February 26th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $48.50.
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California Water Service Group Company Profile
California Water Service Group, through its subsidiaries, provides water utility and other related services in California, Washington, New Mexico, and Hawaii. It 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.
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