123,523 Shares in California Water Service Group $CWT Purchased by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. acquired a new position in shares of California Water Service Group (NYSE:CWT) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 123,523 shares of the utilities provider’s stock, valued at approximately $6,009,000.

Other hedge funds have also recently bought and sold shares of the company. Danske Bank A S acquired a new position in shares of California Water Service Group during the 3rd quarter worth $28,000. EverSource Wealth Advisors LLC boosted its stake in California Water Service Group by 109.9% in the second quarter. EverSource Wealth Advisors LLC now owns 697 shares of the utilities provider’s stock valued at $32,000 after buying an additional 365 shares in the last quarter. Versant Capital Management Inc grew its position in California Water Service Group by 228.2% in the second quarter. Versant Capital Management Inc now owns 676 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 470 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of California Water Service Group during the second quarter worth $33,000. Finally, Bessemer Group Inc. increased its holdings in shares of California Water Service Group by 67.9% during the first quarter. Bessemer Group Inc. now owns 744 shares of the utilities provider’s stock worth $34,000 after buying an additional 301 shares in the last quarter. 82.78% of the stock is owned by institutional investors.

California Water Service Group Trading Up 0.1%

Shares of NYSE CWT opened at $49.62 on Monday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.67 and a current ratio of 0.70. California Water Service Group has a 52-week low of $41.29 and a 52-week high of $53.82. The firm has a 50 day moving average price of $49.36 and a two-hundred day moving average price of $46.53. The stock has a market cap of $3.07 billion, a P/E ratio of 22.35, a price-to-earnings-growth ratio of 1.76 and a beta of 0.50.

California Water Service Group (NYSE:CWT) last released its quarterly earnings results on Thursday, July 30th. The utilities provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.13. California Water Service Group had a net margin of 12.63% and a return on equity of 7.74%. The firm had revenue of $308.60 million during the quarter, compared to the consensus estimate of $283.50 million. During the same quarter last year, the firm earned $0.71 earnings per share. The company’s revenue for the quarter was up 16.5% on a year-over-year basis. As a group, equities analysts forecast that California Water Service Group will post 2.57 EPS for the current year.

California Water Service Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Monday, August 10th were given a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Monday, August 10th. California Water Service Group’s dividend payout ratio is currently 60.36%.

Insider Buying and Selling

In other California Water Service Group news, Director Lester A. Snow sold 1,100 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $44.00, for a total transaction of $48,400.00. Following the completion of the transaction, the director owned 18,316 shares in the company, valued at approximately $805,904. This trade represents a 5.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas M. Krummel sold 3,700 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $50.37, for a total transaction of $186,369.00. Following the completion of the sale, the director directly owned 20,104 shares in the company, valued at approximately $1,012,638.48. This represents a 15.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.78% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on CWT shares. Weiss Ratings upgraded California Water Service Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 4th. Seaport Research Partners restated a “buy” rating and set a $53.00 price objective on shares of California Water Service Group in a research report on Wednesday, August 12th. Wall Street Zen raised California Water Service Group from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Finally, Robert W. Baird set a $54.00 target price on California Water Service Group in a research report on Friday, May 1st. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, California Water Service Group has an average rating of “Hold” and a consensus price target of $54.00.

About California Water Service Group

California Water Service Group (NYSE: CWT) is a publicly traded holding company that provides regulated water utility services through its subsidiaries. The company delivers safe, reliable drinking water and wastewater management to residential, commercial, industrial and municipal customers across California, Hawaii and New Mexico. Its principal operating units include California Water Service, New Mexico Water Service and Hawaii Water Service, each responsible for end‐to‐end water supply operations—from source development and treatment to distribution and customer service.

Founded in 1926 as the California Water Service Company, the group has grown to become one of the largest investor‐owned water utilities in the United States by customer count.