Trexquant Investment LP Has $1.10 Million Position in California Water Service Group $CWT

Key Points

• Trexquant Investment LP has reduced its holdings in California Water Service Group (NYSE:CWT) by 61.2%, selling 35,631 shares and retaining 22,600 shares valued at approximately $1,095,000.
• Several institutional investors have altered their positions, with notable increases from Ieq Capital LLC by 178.3% and Cbre Investment Management by 8.0%, highlighting significant interest despite Trexquant's withdrawal.
• California Water Service Group reported $0.71 EPS for the last quarter, exceeding estimates, with revenue reaching $264.95 million, up 8.5% year-over-year.

Trexquant Investment LP lessened its holdings in California Water Service Group (NYSE:CWT - Free Report) by 61.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,600 shares of the utilities provider's stock after selling 35,631 shares during the quarter. Trexquant Investment LP's holdings in California Water Service Group were worth $1,095,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Versant Capital Management Inc boosted its stake in California Water Service Group by 751.3% during the first quarter. Versant Capital Management Inc now owns 681 shares of the utilities provider's stock worth $33,000 after acquiring an additional 601 shares in the last quarter. Banque Cantonale Vaudoise purchased a new position in California Water Service Group during the first quarter valued at $34,000. Mather Group LLC. purchased a new position in shares of California Water Service Group in the 1st quarter worth $74,000. Putney Financial Group LLC bought a new stake in shares of California Water Service Group in the 4th quarter worth about $78,000. Finally, Spirit of America Management Corp NY bought a new stake in California Water Service Group during the 1st quarter valued at about $97,000. Institutional investors own 82.78% of the company's stock.

California Water Service Group Stock Down 0.2%

Shares of California Water Service Group stock traded down $0.08 on Tuesday, hitting $46.26. 226,109 shares of the company's stock traded hands, compared to its average volume of 262,275. The company has a quick ratio of 0.50, a current ratio of 0.53 and a debt-to-equity ratio of 0.67. The stock has a market cap of $2.76 billion, a P/E ratio of 20.20, a PEG ratio of 2.21 and a beta of 0.69. California Water Service Group has a 52-week low of $41.64 and a 52-week high of $56.25. The firm's 50-day moving average is $46.18 and its 200 day moving average is $47.05.

California Water Service Group (NYSE:CWT - Get Free Report) last issued its earnings results on Thursday, July 31st. The utilities provider reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.25. California Water Service Group had a return on equity of 8.28% and a net margin of 13.71%.The firm had revenue of $264.95 million for the quarter, compared to analyst estimates of $238.20 million. During the same period last year, the company earned $0.70 earnings per share. The firm's revenue for the quarter was up 8.5% on a year-over-year basis. Equities analysts anticipate that California Water Service Group will post 3.15 earnings per share for the current year.

California Water Service Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Monday, August 11th were issued a $0.30 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.20 dividend on an annualized basis and a yield of 2.6%. California Water Service Group's dividend payout ratio (DPR) is 52.40%.

Insider Buying and Selling at California Water Service Group

In related news, Director Lester A. Snow sold 1,200 shares of the business's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $46.51, for a total value of $55,812.00. Following the sale, the director owned 26,349 shares of the company's stock, valued at $1,225,491.99. The trade was a 4.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.73% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on CWT. Wells Fargo & Company dropped their target price on shares of California Water Service Group from $59.00 to $55.00 and set an "overweight" rating on the stock in a research report on Friday, August 1st. Wall Street Zen raised shares of California Water Service Group from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, California Water Service Group currently has a consensus rating of "Buy" and a consensus price target of $56.00.

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.