Spirit of America Management Corp NY Has $182,000 Holdings in California Water Service Group $CWT

Spirit of America Management Corp NY boosted its holdings in shares of California Water Service Group (NYSE:CWT) by 100.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,000 shares of the utilities provider’s stock after buying an additional 2,000 shares during the quarter. Spirit of America Management Corp NY’s holdings in California Water Service Group were worth $182,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Banque Cantonale Vaudoise acquired a new position in California Water Service Group during the first quarter worth approximately $34,000. Signaturefd LLC increased its position in California Water Service Group by 130.1% during the second quarter. Signaturefd LLC now owns 1,397 shares of the utilities provider’s stock worth $64,000 after buying an additional 790 shares during the last quarter. GAMMA Investing LLC increased its position in California Water Service Group by 76.9% during the second quarter. GAMMA Investing LLC now owns 1,514 shares of the utilities provider’s stock worth $69,000 after buying an additional 658 shares during the last quarter. Mather Group LLC. acquired a new position in California Water Service Group during the first quarter worth approximately $74,000. Finally, SouthState Corp acquired a new position in California Water Service Group during the first quarter worth approximately $136,000. Institutional investors and hedge funds own 82.78% of the company’s stock.

California Water Service Group Trading Up 0.5%

Shares of CWT stock opened at $48.63 on Friday. The company has a current ratio of 0.53, a quick ratio of 0.50 and a debt-to-equity ratio of 0.67. The stock has a market cap of $2.90 billion, a P/E ratio of 21.24, a price-to-earnings-growth ratio of 2.32 and a beta of 0.68. The stock has a 50 day simple moving average of $46.34 and a 200 day simple moving average of $46.90. California Water Service Group has a 1 year low of $41.64 and a 1 year high of $54.08.

California Water Service Group (NYSE:CWT) last issued its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.25. The business had revenue of $264.95 million during the quarter, compared to analysts’ expectations of $238.20 million. California Water Service Group had a return on equity of 8.28% and a net margin of 13.71%.The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.70 earnings per share. On average, research analysts predict that California Water Service Group will post 3.15 earnings per share for the current fiscal year.

California Water Service Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Monday, August 11th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Monday, August 11th. California Water Service Group’s payout ratio is 52.40%.

Analyst Ratings Changes

CWT has been the subject of a number of research analyst reports. Wall Street Zen upgraded California Water Service Group from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Weiss Ratings restated a “hold (c)” rating on shares of California Water Service Group in a report on Wednesday, October 8th. Finally, Wells Fargo & Company reduced their price objective on California Water Service Group from $59.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $56.00.

California Water Service Group Profile

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.