Susquehanna Fundamental Investments LLC Acquires Shares of 31,397 California Water Service Group (NYSE:CWT)

Susquehanna Fundamental Investments LLC bought a new stake in California Water Service Group (NYSE:CWT - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 31,397 shares of the utilities provider's stock, valued at approximately $1,423,000. Susquehanna Fundamental Investments LLC owned approximately 0.05% of California Water Service Group at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of CWT. Dark Forest Capital Management LP purchased a new position in shares of California Water Service Group during the fourth quarter worth approximately $550,000. State of Tennessee Department of Treasury increased its stake in California Water Service Group by 21.1% in the 4th quarter. State of Tennessee Department of Treasury now owns 25,606 shares of the utilities provider's stock valued at $1,161,000 after buying an additional 4,457 shares during the period. Van Lanschot Kempen Investment Management N.V. purchased a new stake in shares of California Water Service Group in the fourth quarter valued at about $4,763,000. MetLife Investment Management LLC raised its holdings in California Water Service Group by 7.0% during 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 position 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.

Analyst Ratings Changes

Several equities research analysts have commented on CWT shares. Seaport Res Ptn upgraded shares of California Water Service Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. Wells Fargo & Company raised their price target on California Water Service Group from $54.00 to $59.00 and gave the company an "overweight" rating in a research report on Friday. Finally, StockNews.com upgraded California Water Service Group from a "sell" rating to a "hold" rating in a report on Friday, April 11th.

California Water Service Group Trading Up 2.2 %

Shares of NYSE:CWT traded up $1.06 during trading on Tuesday, reaching $50.05. 146,053 shares of the stock were exchanged, compared to its average volume of 333,367. The firm's 50-day moving average price is $48.23 and its 200 day moving average price is $47.73. The firm has a market cap of $2.98 billion, a price-to-earnings ratio of 14.46, a price-to-earnings-growth ratio of 0.46 and a beta of 0.56. California Water Service Group has a 12-month low of $41.64 and a 12-month high of $56.25. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.60 and a current ratio of 0.64.

California Water Service Group (NYSE:CWT - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The utilities provider reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.06. California Water Service Group had a net margin of 19.56% and a return on equity of 13.24%. The company had revenue of $203.97 million during the quarter, compared to the consensus estimate of $194.80 million. During the same period in the previous year, the firm earned $1.21 earnings per share. California Water Service Group's revenue for the quarter was down 24.7% on a year-over-year basis. On average, sell-side analysts anticipate 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, May 23rd. Investors of record on Monday, May 12th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Monday, May 12th. This represents a $1.20 annualized dividend and a yield of 2.40%. California Water Service Group's dividend payout ratio is currently 36.70%.

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.