Magellan Asset Management Ltd cut its position in shares of California Water Service Group Holding (NYSE:CWT) by 1.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 30,770 shares of the utilities provider’s stock after selling 566 shares during the quarter. Magellan Asset Management Ltd owned approximately 0.06% of California Water Service Group Holding worth $1,132,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Accurate Investment Solutions Inc. boosted its holdings in California Water Service Group Holding by 0.3% during the second quarter. Accurate Investment Solutions Inc. now owns 2,917 shares of the utilities provider’s stock worth $107,000 after purchasing an additional 8 shares during the last quarter. Creative Planning boosted its holdings in California Water Service Group Holding by 0.4% during the second quarter. Creative Planning now owns 9,946 shares of the utilities provider’s stock worth $366,000 after purchasing an additional 43 shares during the last quarter. TD Asset Management Inc. boosted its holdings in California Water Service Group Holding by 0.4% during the first quarter. TD Asset Management Inc. now owns 37,747 shares of the utilities provider’s stock worth $1,353,000 after purchasing an additional 157 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in California Water Service Group Holding by 1.7% during the first quarter. Municipal Employees Retirement System of Michigan now owns 10,960 shares of the utilities provider’s stock worth $393,000 after purchasing an additional 180 shares during the last quarter. Finally, Amalgamated Bank boosted its holdings in California Water Service Group Holding by 3.3% during the second quarter. Amalgamated Bank now owns 6,621 shares of the utilities provider’s stock worth $244,000 after purchasing an additional 209 shares during the last quarter. Institutional investors and hedge funds own 68.73% of the company’s stock.

California Water Service Group Holding (NYSE:CWT) traded up 0.13% on Friday, reaching $37.60. 390,397 shares of the company’s stock were exchanged. California Water Service Group Holding has a 52-week low of $29.25 and a 52-week high of $39.65. The company has a market cap of $1.81 billion, a PE ratio of 31.33 and a beta of 0.70. The firm’s 50 day moving average price is $37.68 and its 200 day moving average price is $36.41.

California Water Service Group Holding (NYSE:CWT) last announced its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.08. The firm had revenue of $171.10 million for the quarter, compared to the consensus estimate of $162.23 million. California Water Service Group Holding had a net margin of 9.17% and a return on equity of 8.78%. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.24 EPS. On average, analysts expect that California Water Service Group Holding will post $1.31 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, August 18th. Stockholders of record on Monday, August 7th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend was Thursday, August 3rd. California Water Service Group Holding’s payout ratio is presently 60.00%.

In other news, VP Lynne P. Mcghee sold 1,605 shares of the firm’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $37.61, for a total transaction of $60,364.05. Following the sale, the vice president now owns 19,660 shares of the company’s stock, valued at approximately $739,412.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Lynne P. Mcghee sold 1,079 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $36.94, for a total transaction of $39,858.26. Following the sale, the vice president now directly owns 18,581 shares in the company, valued at approximately $686,382.14. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

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Several research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of California Water Service Group Holding from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a report on Friday, July 28th. BidaskClub cut shares of California Water Service Group Holding from a “buy” rating to a “hold” rating in a report on Thursday, June 22nd. US Capital Advisors restated a “hold” rating on shares of California Water Service Group Holding in a report on Monday, July 17th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $35.00 target price on shares of California Water Service Group Holding in a research note on Sunday, September 3rd. Two analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The stock currently has an average rating of “Hold” and an average target price of $34.80.

About California Water Service Group Holding

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.

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

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