California Water Service Group (NYSE:CWT) Shares Acquired by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC raised its stake in shares of California Water Service Group (NYSE:CWT - Free Report) by 99.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 80,318 shares of the utilities provider's stock after acquiring an additional 40,008 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.14% of California Water Service Group worth $3,641,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. State of Alaska Department of Revenue boosted its position in California Water Service Group by 0.7% during the 4th quarter. State of Alaska Department of Revenue now owns 33,800 shares of the utilities provider's stock valued at $1,532,000 after acquiring an additional 231 shares in the last quarter. Corient Private Wealth LLC boosted its position in California Water Service Group by 3.6% during the 4th quarter. Corient Private Wealth LLC now owns 9,420 shares of the utilities provider's stock valued at $427,000 after acquiring an additional 327 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in California Water Service Group by 3.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 12,228 shares of the utilities provider's stock valued at $554,000 after acquiring an additional 382 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in California Water Service Group by 1.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 28,800 shares of the utilities provider's stock valued at $1,306,000 after acquiring an additional 400 shares in the last quarter. Finally, Federated Hermes Inc. boosted its position in California Water Service Group by 27.6% during the 4th quarter. Federated Hermes Inc. now owns 1,969 shares of the utilities provider's stock valued at $89,000 after acquiring an additional 426 shares in the last quarter. Institutional investors own 82.78% of the company's stock.

Wall Street Analyst Weigh In

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

California Water Service Group Stock Performance

Shares of CWT stock traded up $0.80 on Thursday, hitting $45.47. The company had a trading volume of 168,026 shares, compared to its average volume of 330,453. The firm has a market cap of $2.71 billion, a P/E ratio of 13.14, a price-to-earnings-growth ratio of 0.46 and a beta of 0.70. The company has a 50-day moving average price of $48.40 and a 200-day moving average price of $47.55. 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 twelve month low of $41.64 and a twelve month high of $56.25.

California Water Service Group (NYSE:CWT - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The utilities provider reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.16 by $0.06. The business had revenue of $203.97 million for the quarter, compared to analysts' expectations of $194.80 million. California Water Service Group had a net margin of 19.56% and a return on equity of 13.24%. The business's revenue was down 24.7% on a year-over-year basis. During the same quarter last year, the company earned $1.21 EPS. As a group, equities 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 firm 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 dividend on an annualized basis and a yield of 2.64%. California Water Service Group's payout ratio is 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.