Susquehanna Fundamental Investments LLC Invests $1.42 Million in California Water Service Group (NYSE:CWT)

Susquehanna Fundamental Investments LLC purchased a new stake in shares of California Water Service Group (NYSE:CWT - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 31,397 shares of the utilities provider's stock, valued at approximately $1,423,000. Susquehanna Fundamental Investments LLC owned about 0.05% of California Water Service Group at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dark Forest Capital Management LP purchased a new stake in California Water Service Group in the 4th quarter valued at about $550,000. State of Tennessee Department of Treasury raised its stake in shares of California Water Service Group by 21.1% during the fourth quarter. State of Tennessee Department of Treasury now owns 25,606 shares of the utilities provider's stock valued at $1,161,000 after acquiring an additional 4,457 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. purchased a new stake in shares of California Water Service Group in the fourth quarter valued at approximately $4,763,000. MetLife Investment Management LLC grew its stake in California Water Service Group by 7.0% in the fourth quarter. MetLife Investment Management LLC now owns 35,292 shares of the utilities provider's stock worth $1,600,000 after purchasing an additional 2,315 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in California Water Service Group by 4.9% during the 4th quarter. First Trust Advisors LP now owns 1,689,977 shares of the utilities provider's stock worth $76,607,000 after purchasing an additional 79,658 shares during the period. 82.78% of the stock is owned by hedge funds and other institutional investors.

California Water Service Group Stock Down 0.7 %

Shares of CWT traded down $0.33 during trading hours on Wednesday, hitting $49.50. The company had a trading volume of 29,890 shares, compared to its average volume of 333,354. California Water Service Group has a one year low of $41.64 and a one year high of $56.25. The company's fifty day moving average price is $48.32 and its two-hundred day moving average price is $47.74. The company has a market capitalization of $2.95 billion, a PE ratio of 14.29, a price-to-earnings-growth ratio of 0.46 and a beta of 0.70. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 0.64.

California Water Service Group (NYSE:CWT - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The utilities provider reported $0.22 EPS for the quarter, beating the consensus estimate of $0.16 by $0.06. The business had revenue of $203.97 million during the quarter, compared to analyst estimates of $194.80 million. California Water Service Group had a net margin of 19.56% and a return on equity of 13.24%. The company's quarterly revenue was down 24.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.21 earnings per share. As a group, equities 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 firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 12th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date is Monday, May 12th. California Water Service Group's payout ratio is presently 52.63%.

Analysts Set New Price Targets

CWT has been the topic of a number of recent research reports. Wells Fargo & Company increased their price target on California Water Service Group from $54.00 to $59.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Seaport Res Ptn upgraded shares of California Water Service Group from a "hold" rating to a "strong-buy" rating in a report on Friday, April 11th. Finally, StockNews.com raised shares of California Water Service Group from a "sell" rating to a "hold" rating in a research report on Friday, April 11th.

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.