California Water Service Group (NYSE:CWT) Shares Acquired by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. lifted its stake in shares of California Water Service Group (NYSE:CWT - Free Report) by 132.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 37,197 shares of the utilities provider's stock after buying an additional 21,220 shares during the quarter. D. E. Shaw & Co. Inc. owned 0.06% of California Water Service Group worth $1,686,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Parkworth Wealth Management Inc. purchased a new stake in shares of California Water Service Group during the 4th quarter valued at about $50,000. Sterling Capital Management LLC raised its holdings in shares of 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 buying an additional 1,273 shares during the period. Federated Hermes Inc. increased its holdings in California Water Service Group by 27.6% during the 4th quarter. Federated Hermes Inc. now owns 1,969 shares of the utilities provider's stock worth $89,000 after purchasing an additional 426 shares during the last quarter. Millstone Evans Group LLC purchased a new stake in California Water Service Group during the 4th quarter worth approximately $102,000. Finally, GeoWealth Management LLC purchased a new stake in California Water Service Group during the 4th quarter worth approximately $124,000. 82.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CWT shares. Wells Fargo & Company lifted their price objective on California Water Service Group from $54.00 to $59.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Wall Street Zen downgraded California Water Service Group from a "hold" rating to a "sell" rating in a report on Saturday. Finally, Seaport Res Ptn upgraded California Water Service Group from a "hold" rating to a "strong-buy" rating in a report on Friday, April 11th.

California Water Service Group Stock Performance

Shares of CWT traded up $0.11 during mid-day trading on Tuesday, hitting $47.13. The stock had a trading volume of 48,815 shares, compared to its average volume of 380,191. The company has a market cap of $2.81 billion, a PE ratio of 13.62, a PEG ratio of 0.46 and a beta of 0.70. The company's fifty day simple moving average is $48.43 and its two-hundred day simple moving average is $47.28. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 0.64. California Water Service Group has a fifty-two week low of $41.64 and a fifty-two week high of $56.25.

California Water Service Group (NYSE:CWT - Get Free Report) last issued its earnings results on Thursday, May 1st. The utilities provider reported $0.22 EPS for the quarter, topping the consensus estimate of $0.16 by $0.06. The company had revenue of $203.97 million during the quarter, compared to analyst estimates of $194.80 million. California Water Service Group had a return on equity of 13.24% and a net margin of 19.56%. The business's revenue was down 24.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.21 EPS. On average, equities analysts expect that California Water Service Group will post 3.15 earnings per share for the current year.

California Water Service Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 12th were given a $0.30 dividend. The ex-dividend date was Monday, May 12th. This represents a $1.20 annualized dividend and a dividend yield of 2.55%. California Water Service Group's payout ratio is 52.63%.

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.