Green Alpha Advisors LLC Decreases Stake in California Water Service Group (NYSE:CWT)

Green Alpha Advisors LLC lessened its position in shares of California Water Service Group (NYSE:CWT) by 5.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,586 shares of the utilities provider’s stock after selling 537 shares during the quarter. Green Alpha Advisors LLC’s holdings in California Water Service Group were worth $389,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CWT. Wulff Hansen & CO. boosted its position in shares of California Water Service Group by 4,565.4% during the 2nd quarter. Wulff Hansen & CO. now owns 1,053,688 shares of the utilities provider’s stock valued at $51,093,000 after acquiring an additional 1,031,103 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in California Water Service Group by 79.7% during the third quarter. Assenagon Asset Management S.A. now owns 252,833 shares of the utilities provider’s stock valued at $13,709,000 after purchasing an additional 112,118 shares during the last quarter. Barclays PLC increased its holdings in shares of California Water Service Group by 135.8% in the 3rd quarter. Barclays PLC now owns 119,645 shares of the utilities provider’s stock worth $6,486,000 after buying an additional 68,914 shares during the last quarter. Arjuna Capital purchased a new stake in shares of California Water Service Group during the 3rd quarter valued at about $3,724,000. Finally, Marshall Wace LLP lifted its holdings in shares of California Water Service Group by 354.9% in the 2nd quarter. Marshall Wace LLP now owns 76,851 shares of the utilities provider’s stock valued at $3,727,000 after acquiring an additional 59,956 shares during the last quarter. Hedge funds and other institutional investors own 82.78% of the company’s stock.

California Water Service Group Stock Down 3.2 %

Shares of NYSE CWT opened at $41.88 on Monday. The company has a market cap of $2.49 billion, a P/E ratio of 12.10 and a beta of 0.52. The firm has a 50-day simple moving average of $48.36 and a two-hundred day simple moving average of $51.21. California Water Service Group has a 1 year low of $41.82 and a 1 year high of $56.25. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.64 and a quick ratio of 0.60.

California Water Service Group (NYSE:CWT) last issued its quarterly earnings results on Thursday, October 31st. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.02). The business had revenue of $299.60 million for the quarter, compared to the consensus estimate of $289.55 million. California Water Service Group had a return on equity of 13.24% and a net margin of 19.56%. California Water Service Group’s revenue was up 17.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.60 earnings per share. Research analysts anticipate that California Water Service Group will post 3.29 earnings per share for the current year.

California Water Service Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Tuesday, November 12th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date was Tuesday, November 12th. California Water Service Group’s dividend payout ratio is currently 32.37%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CWT shares. StockNews.com raised California Water Service Group from a “sell” rating to a “hold” rating in a research note on Wednesday, January 8th. Wells Fargo & Company raised California Water Service Group from an “equal weight” rating to an “overweight” rating and cut their target price for the company from $56.00 to $52.00 in a research report on Tuesday, January 7th. Finally, Bank of America assumed coverage on California Water Service Group in a research report on Wednesday, December 11th. They issued a “buy” rating and a $57.00 price target for the company. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $53.25.

Insider Transactions at California Water Service Group

In related news, VP Michael B. Luu sold 985 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $51.50, for a total value of $50,727.50. Following the completion of the sale, the vice president now owns 20,354 shares in the company, valued at approximately $1,048,231. The trade was a 4.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.73% of the company’s stock.

About California Water Service Group

California Water Service Group, through its subsidiaries, provides water utility and other related services in California, Washington, New Mexico, Hawaii, and Texas. The company 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 services.