NFJ Investment Group LLC Has $2.52 Million Position in California Water Service Group (NYSE:CWT)

NFJ Investment Group LLC increased its position in shares of California Water Service Group (NYSE:CWT) by 55.1% during the second quarter, Holdings Channel reports. The institutional investor owned 45,359 shares of the utilities provider’s stock after purchasing an additional 16,117 shares during the quarter. NFJ Investment Group LLC’s holdings in California Water Service Group were worth $2,519,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. grew its position in California Water Service Group by 85.3% during the second quarter. Rockefeller Capital Management L.P. now owns 706 shares of the utilities provider’s stock worth $38,000 after buying an additional 325 shares in the last quarter. Bbva USA acquired a new stake in California Water Service Group during the second quarter worth about $64,000. Meeder Asset Management Inc. grew its position in California Water Service Group by 27.4% during the second quarter. Meeder Asset Management Inc. now owns 1,319 shares of the utilities provider’s stock worth $73,000 after buying an additional 284 shares in the last quarter. Allworth Financial LP grew its position in California Water Service Group by 640.6% during the second quarter. Allworth Financial LP now owns 1,607 shares of the utilities provider’s stock worth $89,000 after buying an additional 1,390 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC acquired a new stake in California Water Service Group during the first quarter worth about $120,000. 76.84% of the stock is currently owned by institutional investors and hedge funds.

NYSE CWT opened at $59.78 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 1.06. The stock’s 50 day moving average is $62.58 and its two-hundred day moving average is $58.98. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 20.33 and a beta of 0.13. California Water Service Group has a 1-year low of $42.01 and a 1-year high of $65.99.

California Water Service Group (NYSE:CWT) last released its quarterly earnings data on Thursday, July 29th. The utilities provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.38. The company had revenue of $213.12 million for the quarter, compared to the consensus estimate of $187.00 million. California Water Service Group had a return on equity of 15.71% and a net margin of 17.22%. On average, analysts predict that California Water Service Group will post 1.79 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 20th. Shareholders of record on Monday, August 9th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend was Friday, August 6th. California Water Service Group’s payout ratio is 46.70%.

In related news, Director Lester A. Snow sold 700 shares of the business’s stock in a transaction that occurred on Thursday, August 12th. The shares were sold at an average price of $63.50, for a total value of $44,450.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Lynne P. Mcghee sold 746 shares of the business’s stock in a transaction that occurred on Wednesday, August 4th. The stock was sold at an average price of $64.00, for a total transaction of $47,744.00. The disclosure for this sale can be found here. Insiders sold 1,696 shares of company stock valued at $108,474 in the last quarter. 0.96% of the stock is currently owned by corporate insiders.

California Water Service Group Profile

California Water Service Group is a holding company, which engages in provision of water utility and other related services in California, Washington, New Mexico, and Hawaii through its wholly-owned subsidiaries. The firm 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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Institutional Ownership by Quarter for California Water Service Group (NYSE:CWT)

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