D. E. Shaw & Co. Inc. Grows Stake in California Water Service Group (NYSE:CWT)

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 its most recent disclosure with the Securities and Exchange Commission (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 about 0.06% of California Water Service Group worth $1,686,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Barclays PLC grew its stake in California Water Service Group by 135.8% in the third quarter. Barclays PLC now owns 119,645 shares of the utilities provider's stock worth $6,486,000 after purchasing an additional 68,914 shares during the period. Ballentine Partners LLC bought a new position in shares of California Water Service Group in the 4th quarter worth about $234,000. SG Americas Securities LLC lifted its position in California Water Service Group by 205.5% during the 4th quarter. SG Americas Securities LLC now owns 31,205 shares of the utilities provider's stock valued at $1,415,000 after acquiring an additional 20,991 shares during the period. Exchange Traded Concepts LLC boosted its stake in California Water Service Group by 66.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 24,736 shares of the utilities provider's stock worth $1,121,000 after acquiring an additional 9,894 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC purchased a new stake in California Water Service Group in the fourth quarter worth about $314,000. 82.78% of the stock is owned by institutional investors.

California Water Service Group Stock Up 0.0%

California Water Service Group stock traded up $0.02 during trading hours on Tuesday, hitting $47.04. The stock had a trading volume of 374,686 shares, compared to its average volume of 332,530. The stock's 50-day moving average price is $48.44 and its 200-day moving average price is $47.27. The stock has a market capitalization of $2.80 billion, a P/E ratio of 13.59, a price-to-earnings-growth ratio of 0.46 and a beta of 0.70. California Water Service Group has a 12-month low of $41.64 and a 12-month high of $56.25. 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 (NYSE:CWT - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The utilities provider reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.16 by $0.06. California Water Service Group had a net margin of 19.56% and a return on equity of 13.24%. The company had revenue of $203.97 million during the quarter, compared to analyst estimates of $194.80 million. During the same period in the previous year, the business earned $1.21 EPS. The firm's revenue for the quarter was down 24.7% on a year-over-year basis. Equities research analysts anticipate that California Water Service Group will post 3.15 EPS for the current fiscal year.

California Water Service Group Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Wells Fargo & Company upped their price target on California Water Service Group from $54.00 to $59.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Seaport Res Ptn raised California Water Service Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 11th. Finally, Wall Street Zen downgraded California Water Service Group from a "hold" rating to a "sell" rating in a report on Saturday.

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.