Dark Forest Capital Management LP Purchases New Shares in California Water Service Group (NYSE:CWT)

Dark Forest Capital Management LP bought a new position in California Water Service Group (NYSE:CWT - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 12,127 shares of the utilities provider's stock, valued at approximately $550,000.

Several other large investors also recently bought and sold shares of the stock. Parkworth Wealth Management Inc. purchased a new stake in shares of California Water Service Group during the fourth quarter valued at $50,000. Sterling Capital Management LLC grew its stake in California Water Service Group by 785.8% during the 4th quarter. Sterling Capital Management LLC now owns 1,435 shares of the utilities provider's stock valued at $65,000 after purchasing an additional 1,273 shares during the last quarter. Federated Hermes Inc. increased its holdings in shares of 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 purchasing an additional 426 shares during the period. Millstone Evans Group LLC purchased a new position in shares of California Water Service Group in the fourth quarter worth about $102,000. Finally, GeoWealth Management LLC acquired a new stake in shares of California Water Service Group during the fourth quarter worth about $124,000. Hedge funds and other institutional investors own 82.78% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CWT shares. 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. StockNews.com raised shares of California Water Service Group from a "sell" rating to a "hold" rating in a report on Friday, April 11th. Finally, Wells Fargo & Company raised shares of California Water Service Group from an "equal weight" rating to an "overweight" rating and lowered their price target for the company from $56.00 to $52.00 in a report on Tuesday, January 7th.

California Water Service Group Stock Performance

NYSE:CWT traded down $0.30 during trading hours on Thursday, reaching $50.35. The company had a trading volume of 130,593 shares, compared to its average volume of 331,118. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.64 and a quick ratio of 0.60. California Water Service Group has a 1-year low of $41.64 and a 1-year high of $56.25. The business's 50 day moving average price is $48.05 and its 200-day moving average price is $47.90. The firm has a market cap of $3.00 billion, a PE ratio of 14.55, a price-to-earnings-growth ratio of 0.46 and a beta of 0.56.

California Water Service Group (NYSE:CWT - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The utilities provider reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.17 by $0.05. California Water Service Group had a net margin of 19.56% and a return on equity of 13.24%. Research analysts forecast that California Water Service Group will post 3.15 EPS for the current year.

California Water Service Group Announces Dividend

The firm also recently announced 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 2.38%. California Water Service Group's dividend payout ratio (DPR) is presently 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.