Algert Global LLC Has $1.78 Million Stock Position in California Water Service Group (NYSE:CWT)

Algert Global LLC increased its position in shares of California Water Service Group (NYSE:CWT - Free Report) by 70.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 39,207 shares of the utilities provider's stock after buying an additional 16,146 shares during the period. Algert Global LLC owned about 0.07% of California Water Service Group worth $1,777,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in California Water Service Group by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 7,514,709 shares of the utilities provider's stock worth $340,642,000 after buying an additional 158,295 shares during the last quarter. First Trust Advisors LP grew its holdings in California Water Service Group by 4.9% in the fourth quarter. First Trust Advisors LP now owns 1,689,977 shares of the utilities provider's stock valued at $76,607,000 after purchasing an additional 79,658 shares during the period. Geode Capital Management LLC lifted its position in California Water Service Group by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 1,360,158 shares of the utilities provider's stock valued at $61,670,000 after buying an additional 22,192 shares in the last quarter. Northern Trust Corp lifted its position in California Water Service Group by 13.1% during the fourth quarter. Northern Trust Corp now owns 979,138 shares of the utilities provider's stock valued at $44,384,000 after buying an additional 113,622 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in California Water Service Group by 5.6% in the fourth quarter. Invesco Ltd. now owns 928,148 shares of the utilities provider's stock valued at $42,073,000 after acquiring an additional 49,107 shares in the last quarter. 82.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CWT shares. StockNews.com upgraded shares of California Water Service Group from a "sell" rating to a "hold" rating in a research report on Friday, April 11th. Seaport Res Ptn raised shares of California Water Service Group from a "hold" rating to a "strong-buy" rating in a report on Friday, April 11th. Finally, Wells Fargo & Company upped their price objective on shares of California Water Service Group from $54.00 to $59.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd.

California Water Service Group Stock Performance

Shares of NYSE:CWT traded down $1.48 during trading on Tuesday, reaching $45.54. The stock had a trading volume of 349,027 shares, compared to its average volume of 330,752. The stock has a fifty day simple moving average of $48.49 and a two-hundred day simple moving average of $47.59. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of 13.16, a P/E/G ratio of 0.46 and a beta of 0.70. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 0.64. California Water Service Group has a 52 week low of $41.64 and a 52 week high of $56.25.

California Water Service Group (NYSE:CWT - Get Free Report) last issued its 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. 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 for the quarter, compared to the consensus estimate of $194.80 million. During the same quarter in the previous year, the company earned $1.21 EPS. The firm's revenue for the quarter was down 24.7% compared to the same quarter last year. As a group, analysts anticipate that California Water Service Group will post 3.15 earnings per share for the current fiscal year.

California Water Service Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 12th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, May 12th. This represents a $1.20 annualized dividend and a yield of 2.64%. California Water Service Group's dividend payout ratio is currently 52.63%.

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.