California Water Service Group $CWT Stake Raised by Cbre Investment Management Listed Real Assets LLC

Cbre Investment Management Listed Real Assets LLC lifted its holdings in shares of California Water Service Group (NYSE:CWT) by 7.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 751,987 shares of the utilities provider’s stock after buying an additional 51,423 shares during the period. Cbre Investment Management Listed Real Assets LLC’s holdings in California Water Service Group were worth $34,200,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Choreo LLC boosted its position in California Water Service Group by 6.6% during the 1st quarter. Choreo LLC now owns 4,766 shares of the utilities provider’s stock worth $231,000 after acquiring an additional 294 shares during the period. Kovitz Investment Group Partners LLC raised its stake in shares of California Water Service Group by 1.0% during the first quarter. Kovitz Investment Group Partners LLC now owns 38,438 shares of the utilities provider’s stock valued at $1,863,000 after purchasing an additional 373 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in California Water Service Group by 4.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,317 shares of the utilities provider’s stock worth $518,000 after purchasing an additional 511 shares during the period. PNC Financial Services Group Inc. lifted its holdings in California Water Service Group by 8.9% in the first quarter. PNC Financial Services Group Inc. now owns 7,075 shares of the utilities provider’s stock worth $343,000 after purchasing an additional 577 shares during the period. Finally, Comerica Bank grew its position in California Water Service Group by 2.8% in the 1st quarter. Comerica Bank now owns 22,249 shares of the utilities provider’s stock valued at $1,078,000 after buying an additional 612 shares in the last quarter. 82.78% of the stock is currently owned by institutional investors and hedge funds.

California Water Service Group Stock Down 0.3%

CWT stock opened at $46.37 on Friday. The firm has a market cap of $2.76 billion, a PE ratio of 20.25, a P/E/G ratio of 2.25 and a beta of 0.69. California Water Service Group has a 12 month low of $41.64 and a 12 month high of $52.61. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.53 and a quick ratio of 0.50. The firm has a 50 day simple moving average of $46.63 and a 200 day simple moving average of $46.77.

California Water Service Group (NYSE:CWT) last posted its quarterly earnings results on Thursday, October 30th. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.17). California Water Service Group had a net margin of 13.71% and a return on equity of 8.28%. The company had revenue of $311.24 million during the quarter, compared to the consensus estimate of $321.35 million. During the same period in the prior year, the company posted $1.03 EPS. California Water Service Group’s quarterly revenue was up 3.9% on a year-over-year basis. Equities research analysts forecast 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 will be paid on Friday, November 21st. Investors of record on Monday, November 10th will be given a $0.30 dividend. The ex-dividend date is Monday, November 10th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.6%. California Water Service Group’s dividend payout ratio (DPR) is 52.40%.

Analyst Ratings Changes

A number of analysts have commented on CWT shares. Wells Fargo & Company dropped their price target on shares of California Water Service Group from $59.00 to $55.00 and set an “overweight” rating on the stock in a research report on Friday, August 1st. Wall Street Zen raised 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 research report on Wednesday, October 8th. Finally, Robert W. Baird set a $55.00 price target on California Water Service Group in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $55.67.

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, 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.