California Water Service Group (NYSE:CWT) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD reduced its position in California Water Service Group (NYSE:CWT - Free Report) by 36.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,017 shares of the utilities provider's stock after selling 31,421 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.09% of California Water Service Group worth $2,494,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CWT. Parkworth Wealth Management Inc. acquired a new stake in California Water Service Group during the 4th quarter valued at approximately $50,000. Sterling Capital Management LLC increased its stake in shares of California Water Service Group by 785.8% in the fourth quarter. Sterling Capital Management LLC now owns 1,435 shares of the utilities provider's stock worth $65,000 after buying an additional 1,273 shares during the last quarter. Federated Hermes Inc. raised its holdings in California Water Service Group by 27.6% in the fourth 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. Millstone Evans Group LLC bought a new position in California Water Service Group during the 4th quarter valued at $102,000. Finally, GeoWealth Management LLC acquired a new position in California Water Service Group during the 4th quarter worth $124,000. 82.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. 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. Wells Fargo & Company lifted their target price 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. Finally, Seaport Res Ptn upgraded California Water Service Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 11th.

California Water Service Group Stock Performance

NYSE CWT traded up $0.03 during trading hours on Friday, reaching $48.56. The company's stock had a trading volume of 216,406 shares, compared to its average volume of 333,898. The stock has a market cap of $2.89 billion, a PE ratio of 14.03, a PEG ratio of 0.46 and a beta of 0.70. The business has a 50-day simple moving average of $48.48 and a 200 day simple moving average of $47.69. California Water Service Group has a 52 week low of $41.64 and a 52 week high of $56.25. 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 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 firm had revenue of $203.97 million during the quarter, compared to the consensus estimate of $194.80 million. California Water Service Group had a return on equity of 13.24% and a net margin of 19.56%. The firm's revenue was down 24.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.21 EPS. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 12th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date is Monday, May 12th. California Water Service Group's payout ratio is 52.63%.

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.