WINTON GROUP Ltd increased its stake in shares of California Water Service Group (NYSE:CWT) by 3,621.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 255,237 shares of the utilities provider’s stock after purchasing an additional 248,378 shares during the quarter. WINTON GROUP Ltd’s holdings in California Water Service Group were worth $10,950,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Steward Partners Investment Advisory LLC acquired a new stake in shares of California Water Service Group during the second quarter worth $156,000. North Point Portfolio Managers Corp OH acquired a new stake in shares of California Water Service Group during the third quarter worth $202,000. PEAK6 Investments L.P. lifted its holdings in shares of California Water Service Group by 147.4% during the second quarter. PEAK6 Investments L.P. now owns 5,468 shares of the utilities provider’s stock worth $213,000 after purchasing an additional 17,000 shares during the period. Mission Wealth Management LP acquired a new stake in shares of California Water Service Group during the third quarter worth $213,000. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of California Water Service Group during the second quarter worth $229,000. 72.16% of the stock is owned by hedge funds and other institutional investors.
In other California Water Service Group news, VP David B. Healey sold 1,000 shares of the firm’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $41.76, for a total value of $41,760.00. Following the completion of the sale, the vice president now owns 14,492 shares of the company’s stock, valued at $605,185.92. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.00% of the stock is currently owned by company insiders.
California Water Service Group (NYSE:CWT) last released its earnings results on Thursday, November 1st. The utilities provider reported $0.72 EPS for the quarter, meeting analysts’ consensus estimates of $0.72. California Water Service Group had a return on equity of 8.44% and a net margin of 8.54%. The company had revenue of $219.00 million during the quarter, compared to the consensus estimate of $249.64 million. During the same quarter last year, the company earned $0.70 earnings per share. California Water Service Group’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, analysts predict that California Water Service Group will post 1.22 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 23rd. Shareholders of record on Monday, November 12th will be issued a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Thursday, November 8th. California Water Service Group’s dividend payout ratio (DPR) is currently 53.57%.
Several brokerages recently weighed in on CWT. Zacks Investment Research downgraded California Water Service Group from a “hold” rating to a “sell” rating in a report on Monday, November 5th. Evercore ISI began coverage on California Water Service Group in a report on Monday, September 17th. They issued an “in-line” rating and a $42.00 target price for the company. Finally, Wells Fargo & Co began coverage on California Water Service Group in a report on Monday, August 27th. They issued a “market perform” rating for the company. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $39.67.
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California Water Service Group 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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