Meeder Asset Management Inc. Purchases 210 Shares of California Water Service Group (NYSE:CWT)

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Meeder Asset Management Inc. raised its position in California Water Service Group (NYSE:CWT) by 18.7% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 1,335 shares of the utilities provider’s stock after buying an additional 210 shares during the period. Meeder Asset Management Inc.’s holdings in California Water Service Group were worth $67,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CWT. Parallel Advisors LLC lifted its stake in shares of California Water Service Group by 414.1% in the 1st quarter. Parallel Advisors LLC now owns 658 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 530 shares during the period. CWM LLC lifted its stake in shares of California Water Service Group by 609.2% in the 2nd quarter. CWM LLC now owns 1,234 shares of the utilities provider’s stock valued at $62,000 after purchasing an additional 1,060 shares during the period. Quadrant Capital Group LLC lifted its stake in shares of California Water Service Group by 1,271.0% in the 1st quarter. Quadrant Capital Group LLC now owns 1,275 shares of the utilities provider’s stock valued at $67,000 after purchasing an additional 1,182 shares during the period. Advisory Services Network LLC acquired a new position in shares of California Water Service Group in the 1st quarter valued at $111,000. Finally, FMR LLC lifted its stake in shares of California Water Service Group by 13.1% in the 4th quarter. FMR LLC now owns 2,910 shares of the utilities provider’s stock valued at $139,000 after purchasing an additional 338 shares during the period. Hedge funds and other institutional investors own 76.01% of the company’s stock.

A number of research analysts have recently weighed in on the company. Wells Fargo & Co reissued a “hold” rating on shares of California Water Service Group in a research note on Monday, June 10th. Boenning Scattergood initiated coverage on California Water Service Group in a research note on Monday, June 10th. They set a “neutral” rating on the stock. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $48.50.

Shares of California Water Service Group stock opened at $55.54 on Wednesday. The company has a market capitalization of $2.63 billion, a PE ratio of 40.84, a PEG ratio of 4.05 and a beta of 0.33. California Water Service Group has a 12 month low of $40.10 and a 12 month high of $56.50. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 1.12. The stock’s fifty day simple moving average is $53.46 and its 200 day simple moving average is $51.76.

California Water Service Group (NYSE:CWT) last issued its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.02). The business had revenue of $179.03 million for the quarter, compared to analyst estimates of $180.97 million. California Water Service Group had a return on equity of 8.21% and a net margin of 8.55%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.31 EPS. Analysts predict that California Water Service Group will post 1.33 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 12th were paid a dividend of $0.198 per share. This represents a $0.79 annualized dividend and a yield of 1.43%. The ex-dividend date was Friday, August 9th. California Water Service Group’s payout ratio is presently 58.09%.

In other California Water Service Group news, VP David B. Healey sold 1,000 shares of the stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $50.00, for a total transaction of $50,000.00. Following the completion of the transaction, the vice president now owns 15,106 shares in the company, valued at approximately $755,300. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Peter C. Nelson sold 10,000 shares of the stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $49.10, for a total value of $491,000.00. Following the transaction, the director now owns 39,509 shares of the company’s stock, valued at approximately $1,939,891.90. The disclosure for this sale can be found here. Insiders have sold a total of 22,000 shares of company stock worth $1,148,660 in the last ninety days. 0.99% of the stock is currently owned by company insiders.

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.

Read More: How is diluted EPS different from basic EPS?

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Institutional Ownership by Quarter for California Water Service Group (NYSE:CWT)

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