Allspring Global Investments Holdings LLC Purchases 10,050 Shares of California Water Service Group (NYSE:CWT)

Allspring Global Investments Holdings LLC lifted its position in California Water Service Group (NYSE:CWT - Free Report) by 113.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,946 shares of the utilities provider's stock after buying an additional 10,050 shares during the period. Allspring Global Investments Holdings LLC's holdings in California Water Service Group were worth $918,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC lifted its position in California Water Service Group by 2.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,806 shares of the utilities provider's stock valued at $524,000 after purchasing an additional 272 shares in the last quarter. Corient Private Wealth LLC lifted its position in California Water Service Group by 3.6% during the fourth quarter. Corient Private Wealth LLC now owns 9,420 shares of the utilities provider's stock valued at $427,000 after purchasing an additional 327 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in California Water Service Group by 3.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 12,228 shares of the utilities provider's stock valued at $554,000 after purchasing an additional 382 shares in the last quarter. California State Teachers Retirement System lifted its position in California Water Service Group by 0.8% during the fourth quarter. California State Teachers Retirement System now owns 55,060 shares of the utilities provider's stock valued at $2,496,000 after purchasing an additional 418 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in California Water Service Group by 27.6% during 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 in the last quarter. 82.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other California Water Service Group news, Director Lester A. Snow sold 1,200 shares of the firm's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $46.51, for a total transaction of $55,812.00. Following the sale, the director directly owned 26,349 shares of the company's stock, valued at $1,225,491.99. This trade represents a 4.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.77% of the stock is currently owned by corporate insiders.

California Water Service Group Price Performance

NYSE:CWT traded down $0.39 on Friday, reaching $45.90. 275,351 shares of the company's stock traded hands, compared to its average volume of 339,124. The company has a quick ratio of 0.49, a current ratio of 0.53 and a debt-to-equity ratio of 0.68. The stock has a 50-day simple moving average of $46.64 and a 200-day simple moving average of $46.56. The firm has a market cap of $2.73 billion, a PE ratio of 20.13, a P/E/G ratio of 2.26 and a beta of 0.64. California Water Service Group has a 12 month low of $41.64 and a 12 month high of $56.25.

California Water Service Group (NYSE:CWT - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The utilities provider reported $0.22 EPS for the quarter, beating 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 return on equity of 8.32% and a net margin of 13.84%. The business's quarterly revenue was down 24.7% on a year-over-year basis. During the same period last year, the firm earned $1.21 earnings per share. Equities research analysts forecast that California Water Service Group will post 3.15 earnings per share for the current year.

California Water Service Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 12th were issued a dividend of $0.30 per share. The ex-dividend date was Monday, May 12th. This represents a $1.20 dividend on an annualized basis and a yield of 2.61%. California Water Service Group's dividend payout ratio is presently 52.63%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Wall Street Zen downgraded California Water Service Group from a "hold" rating to a "sell" rating in a research report on Saturday, June 21st. Seaport Res Ptn upgraded California Water Service Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. Finally, Wells Fargo & Company lifted their target price on 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.

About California Water Service Group

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.