PEAK6 Investments L.P. increased its stake in California Water Service Group (NYSE:CWT) by 147.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,468 shares of the utilities provider’s stock after acquiring an additional 17,000 shares during the period. PEAK6 Investments L.P.’s holdings in California Water Service Group were worth $213,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in CWT. BlackRock Inc. grew its position in California Water Service Group by 9.0% in the second quarter. BlackRock Inc. now owns 7,121,516 shares of the utilities provider’s stock worth $277,382,000 after acquiring an additional 590,505 shares in the last quarter. Millennium Management LLC grew its position in California Water Service Group by 95.9% in the first quarter. Millennium Management LLC now owns 563,256 shares of the utilities provider’s stock worth $20,981,000 after acquiring an additional 275,788 shares in the last quarter. KBC Group NV grew its position in California Water Service Group by 143.3% in the first quarter. KBC Group NV now owns 343,395 shares of the utilities provider’s stock worth $12,791,000 after acquiring an additional 202,254 shares in the last quarter. Cornerstone Wealth Management LLC purchased a new position in California Water Service Group in the second quarter worth $1,575,000. Finally, Piermont Capital Management Inc. purchased a new position in California Water Service Group in the first quarter worth $2,220,000. Institutional investors own 71.81% of the company’s stock.

Shares of NYSE:CWT opened at $42.50 on Friday. California Water Service Group has a 52-week low of $35.25 and a 52-week high of $46.15. The firm has a market capitalization of $1.98 billion, a P/E ratio of 30.36, a P/E/G ratio of 4.71 and a beta of 0.54. The company has a quick ratio of 0.29, a current ratio of 0.30 and a debt-to-equity ratio of 0.60.

California Water Service Group (NYSE:CWT) last announced its earnings results on Thursday, July 26th. The utilities provider reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.08). California Water Service Group had a return on equity of 8.44% and a net margin of 8.55%. The company had revenue of $172.63 million during the quarter, compared to analysts’ expectations of $172.30 million. During the same quarter last year, the firm posted $0.39 earnings per share. The firm’s revenue was up .9% on a year-over-year basis. sell-side analysts predict that California Water Service Group will post 1.25 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 17th. Shareholders of record on Monday, August 6th were given a dividend of $0.1875 per share. The ex-dividend date of this dividend was Friday, August 3rd. This represents a $0.75 annualized dividend and a yield of 1.76%. California Water Service Group’s payout ratio is 53.57%.

In other California Water Service Group news, VP David B. Healey sold 1,000 shares of the company’s stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $41.76, for a total transaction of $41,760.00. Following the completion of the sale, the vice president now directly owns 14,492 shares in the company, valued at $605,185.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.00% of the company’s stock.

Several research analysts recently issued reports on the stock. Wells Fargo & Co assumed coverage on shares of California Water Service Group in a research report on Monday, August 27th. They issued a “market perform” rating for the company. Zacks Investment Research lowered shares of California Water Service Group from a “hold” rating to a “sell” rating in a research report on Monday, July 30th. Finally, ValuEngine upgraded shares of California Water Service Group from a “hold” rating to a “buy” rating in a research report on Monday, July 2nd. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $39.25.

About California Water Service Group

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

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