Pinebridge Investments L.P. reduced its position in shares of California Water Service Group Holding (NYSE:CWT) by 9.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,576 shares of the utilities provider’s stock after selling 5,107 shares during the period. Pinebridge Investments L.P. owned 0.10% of California Water Service Group Holding worth $1,714,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. LS Investment Advisors LLC raised its position in California Water Service Group Holding by 62.5% in the first quarter. LS Investment Advisors LLC now owns 2,782 shares of the utilities provider’s stock worth $100,000 after acquiring an additional 1,070 shares during the period. Accurate Investment Solutions Inc. raised its position in California Water Service Group Holding by 0.3% in the second quarter. Accurate Investment Solutions Inc. now owns 2,917 shares of the utilities provider’s stock worth $107,000 after acquiring an additional 8 shares during the period. Ameritas Investment Partners Inc. bought a new stake in California Water Service Group Holding in the first quarter worth about $149,000. Riverhead Capital Management LLC raised its position in California Water Service Group Holding by 66.4% in the second quarter. Riverhead Capital Management LLC now owns 4,161 shares of the utilities provider’s stock worth $153,000 after acquiring an additional 1,661 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in California Water Service Group Holding by 5.2% in the first quarter. PNC Financial Services Group Inc. now owns 4,575 shares of the utilities provider’s stock worth $164,000 after acquiring an additional 225 shares during the period. 68.69% of the stock is currently owned by institutional investors.

Shares of California Water Service Group Holding (NYSE CWT) opened at 38.05 on Friday. The company has a market cap of $1.83 billion, a price-to-earnings ratio of 31.71 and a beta of 0.70. The firm has a 50-day moving average of $37.63 and a 200 day moving average of $36.42. California Water Service Group Holding has a 12 month low of $29.25 and a 12 month high of $39.65.

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.

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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CWT has been the topic of several research reports. Zacks Investment Research raised shares of California Water Service Group Holding from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a research report on Friday, July 28th. BidaskClub raised shares of California Water Service Group Holding from a “hold” rating to a “buy” rating in a research report on Friday, June 9th. Robert W. Baird reaffirmed a “hold” rating and issued a $35.00 price objective on shares of California Water Service Group Holding in a research report on Sunday, September 3rd. US Capital Advisors reaffirmed a “hold” rating on shares of California Water Service Group Holding in a research report on Monday, July 17th. Finally, Barclays PLC lifted their price objective on shares of California Water Service Group Holding from $30.00 to $32.00 and gave the stock an “underweight” rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. The company has a consensus rating of “Hold” and an average price target of $35.60.

California Water Service Group Holding Company Profile

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.

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

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