Wells Fargo & Company MN lowered its position in shares of California Water Service Group (NYSE:CWT) by 13.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 166,731 shares of the utilities provider’s stock after selling 25,424 shares during the period. Wells Fargo & Company MN’s holdings in California Water Service Group were worth $8,441,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Everence Capital Management Inc. increased its position in shares of California Water Service Group by 26.6% during the second quarter. Everence Capital Management Inc. now owns 11,000 shares of the utilities provider’s stock valued at $557,000 after acquiring an additional 2,310 shares in the last quarter. Enterprise Trust & Investment Co bought a new stake in shares of California Water Service Group during the second quarter valued at approximately $137,000. Independent Advisor Alliance increased its position in shares of California Water Service Group by 49.5% during the first quarter. Independent Advisor Alliance now owns 14,067 shares of the utilities provider’s stock valued at $764,000 after acquiring an additional 4,658 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of California Water Service Group by 1.8% during the first quarter. Oregon Public Employees Retirement Fund now owns 18,616 shares of the utilities provider’s stock valued at $1,010,000 after acquiring an additional 336 shares in the last quarter. Finally, AlphaCrest Capital Management LLC bought a new stake in shares of California Water Service Group during the first quarter valued at approximately $456,000. 76.30% of the stock is owned by institutional investors.

NYSE:CWT traded up $0.05 during trading hours on Friday, reaching $54.36. The company had a trading volume of 2,439 shares, compared to its average volume of 211,972. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 1.12. California Water Service Group has a 52 week low of $40.10 and a 52 week high of $57.48. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of 39.95, a PEG ratio of 3.98 and a beta of 0.29. The firm’s 50 day moving average price is $54.57 and its 200-day moving average price is $52.08.

California Water Service Group (NYSE:CWT) last posted its earnings results on Thursday, August 1st. The utilities provider reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). California Water Service Group had a return on equity of 8.21% and a net margin of 8.55%. The company had revenue of $179.03 million during the quarter, compared to the consensus estimate of $180.97 million. During the same period last year, the firm posted $0.31 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, analysts forecast that California Water Service Group will post 1.33 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 12th were given a $0.198 dividend. This represents a $0.79 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend was Friday, August 9th. California Water Service Group’s dividend payout ratio (DPR) is presently 58.09%.

In other California Water Service Group news, Director Peter C. Nelson sold 10,000 shares of California Water Service Group stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $55.54, for a total value of $555,400.00. Following the completion of the sale, the director now owns 24,332 shares of the company’s stock, valued at approximately $1,351,399.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Richard P. Magnuson sold 20,000 shares of California Water Service Group stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $56.73, for a total transaction of $1,134,600.00. Following the completion of the sale, the director now directly owns 51,344 shares of the company’s stock, valued at approximately $2,912,745.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,000 shares of company stock valued at $1,742,260. 0.99% of the stock is currently owned by insiders.

CWT has been the subject of several analyst reports. Boenning Scattergood began coverage on shares of California Water Service Group in a research report on Monday, June 10th. They set a “neutral” rating for the company. Wells Fargo & Co reaffirmed a “hold” rating on shares of California Water Service Group in a research report on Monday, June 10th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $48.50.

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

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