California Water Service Group $CWT Shares Sold by Susquehanna International Group LLP

Susquehanna International Group LLP reduced its holdings in California Water Service Group (NYSE:CWT) by 44.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 15,712 shares of the utilities provider’s stock after selling 12,600 shares during the period. Susquehanna International Group LLP’s holdings in California Water Service Group were worth $764,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Danske Bank A S bought a new position in California Water Service Group in the third quarter worth about $28,000. EverSource Wealth Advisors LLC grew its holdings in shares of California Water Service Group by 109.9% during the second quarter. EverSource Wealth Advisors LLC now owns 697 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 365 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of California Water Service Group by 228.2% during the second quarter. Versant Capital Management Inc now owns 676 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 470 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of California Water Service Group during the 2nd quarter worth approximately $33,000. Finally, Bessemer Group Inc. raised its position in shares of California Water Service Group by 67.9% during the 1st quarter. Bessemer Group Inc. now owns 744 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 301 shares during the period. 82.78% of the stock is owned by institutional investors and hedge funds.

California Water Service Group Trading Down 1.2%

NYSE:CWT opened at $49.89 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 0.70 and a debt-to-equity ratio of 0.81. California Water Service Group has a 1-year low of $41.29 and a 1-year high of $53.82. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of 22.47, a price-to-earnings-growth ratio of 1.79 and a beta of 0.50. The stock has a fifty day simple moving average of $49.97 and a 200 day simple moving average of $46.77.

California Water Service Group (NYSE:CWT) last announced its 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. The company had revenue of $308.60 million for the quarter, compared to the consensus estimate of $283.50 million. California Water Service Group had a net margin of 12.63% and a return on equity of 7.74%. The company’s revenue was up 16.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.71 EPS. Sell-side analysts forecast that California Water Service Group will post 2.57 earnings per share for the current year.

California Water Service Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

CWT has been the topic of a number of recent research reports. Seaport Research Partners reiterated a “buy” rating and issued a $53.00 target price on shares of California Water Service Group in a research note on Wednesday, August 12th. Weiss Ratings upgraded shares of California Water Service Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 4th. Finally, Wall Street Zen raised shares of California Water Service Group from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. One equities research 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.

Insider Transactions at California Water Service Group

In related news, Director Thomas M. Krummel sold 3,700 shares of the stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $50.37, for a total value of $186,369.00. Following the completion of the sale, the director directly owned 20,104 shares of the company’s stock, valued at approximately $1,012,638.48. This represents a 15.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.78% of the company’s stock.

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.