Assenagon Asset Management S.A. Makes New Investment in California Water Service Group $CWT

Key Points

• Assenagon Asset Management acquired 42,371 shares of California Water Service Group in the second quarter, worth approximately $2.06 million. Institutional investors and hedge funds collectively own 82.78% of the company.
• California Water Service Group exceeded quarterly expectations, reporting EPS of $0.93 versus the $0.80 consensus and revenue of $308.6 million, up 16.5% year over year.
• The company declared a quarterly dividend of $0.335, equivalent to $1.34 annually and a 2.7% yield. Analysts maintain a consensus “Hold” rating with a $54 price target.

Assenagon Asset Management S.A. bought a new stake in California Water Service Group (NYSE:CWT - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 42,371 shares of the utilities provider's stock, valued at approximately $2,061,000. Assenagon Asset Management S.A. owned approximately 0.07% of California Water Service Group at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Amundi increased its stake in shares of California Water Service Group by 26.7% in the 1st quarter. Amundi now owns 3,470,997 shares of the utilities provider's stock valued at $157,421,000 after purchasing an additional 732,004 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of California Water Service Group by 5,365.1% in the third quarter. Millennium Management LLC now owns 368,074 shares of the utilities provider's stock worth $16,891,000 after acquiring an additional 361,339 shares during the last quarter. ExodusPoint Capital Management LP bought a new position in shares of California Water Service Group in the fourth quarter worth about $10,349,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of California Water Service Group by 416.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 257,970 shares of the utilities provider's stock valued at $11,696,000 after purchasing an additional 208,061 shares in the last quarter. Finally, KBC Group NV boosted its stake in shares of California Water Service Group by 29.2% in the 1st quarter. KBC Group NV now owns 577,247 shares of the utilities provider's stock valued at $26,172,000 after purchasing an additional 130,620 shares in the last quarter. 82.78% of the stock is currently owned by institutional investors and hedge funds.

California Water Service Group News Roundup

Here are the key news stories impacting California Water Service Group this week:

• Positive Sentiment: Zacks raised its fiscal 2026 EPS estimate to $2.61 from $2.56 and its fiscal 2027 forecast to $2.72 from $2.71. The fiscal 2026 estimate is also above the broader consensus of $2.55, suggesting modestly improved full-year expectations. California Water Service Group estimates
• Neutral Sentiment: Zacks increased Q4 2026 EPS expectations to $0.39 from $0.37 and Q2 2027 expectations to $0.83 from $0.75, while maintaining forecasts for several other periods. The revisions indicate uneven earnings expectations rather than a broad change in the company’s outlook.
• Negative Sentiment: Zacks lowered estimates for Q3 2026 EPS to $1.22 from $1.33, Q1 2027 EPS to $0.26 from $0.31, Q3 2027 EPS to $1.31 from $1.37, and Q1 2028 EPS to $0.31 from $0.35. These cuts to multiple future quarters could weigh on sentiment, particularly because utilities are valued partly on the stability and predictability of earnings.

California Water Service Group Price Performance

CWT stock opened at $50.26 on Friday. The company has a market capitalization of $3.11 billion, a P/E ratio of 22.64, a PEG ratio of 1.77 and a beta of 0.50. The company has a fifty day moving average price of $48.87 and a 200-day moving average price of $46.30. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.67 and a current ratio of 0.70. California Water Service Group has a 52-week low of $41.29 and a 52-week high of $53.82.

California Water Service Group (NYSE:CWT - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The utilities provider reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.13. The company had revenue of $308.60 million for the quarter, compared to analysts' expectations of $283.50 million. California Water Service Group had a net margin of 12.63% and a return on equity of 7.74%. California Water Service Group's revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.71 earnings per share. As a group, equities analysts expect that California Water Service Group will post 2.57 EPS for the current year.

California Water Service Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Monday, August 10th will be given a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Monday, August 10th. California Water Service Group's payout ratio is 60.36%.

Insider Activity

In other news, Director Thomas M. Krummel sold 3,700 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $43.30, for a total value of $160,210.00. Following the completion of the sale, the director owned 23,805 shares of the company's stock, valued at approximately $1,030,756.50. This represents a 13.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Lester A. Snow sold 1,100 shares of the firm's stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $44.00, for a total value of $48,400.00. Following the transaction, the director owned 18,316 shares of the company's stock, valued at $805,904. This trade represents a 5.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.78% of the company's stock.

Analysts Set New Price Targets

CWT has been the topic of several research reports. Seaport Research Partners reaffirmed a "buy" rating and set a $53.00 price target on shares of California Water Service Group in a report on Wednesday. Wall Street Zen upgraded shares of California Water Service Group from a "sell" rating to a "hold" rating in a research report on Saturday, July 18th. Weiss Ratings upgraded shares of California Water Service Group from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, August 4th. Finally, Robert W. Baird set a $54.00 target price on shares of California Water Service Group in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $54.00.

California Water Service Group Profile

California Water Service Group NYSE: CWT is a publicly traded holding company that provides regulated water utility services through its subsidiaries. The company delivers safe, reliable drinking water and wastewater management to residential, commercial, industrial and municipal customers across California, Hawaii and New Mexico. Its principal operating units include California Water Service, New Mexico Water Service and Hawaii Water Service, each responsible for end‐to‐end water supply operations—from source development and treatment to distribution and customer service.

Founded in 1926 as the California Water Service Company, the group has grown to become one of the largest investor‐owned water utilities in the United States by customer count.

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