California Water Service Group (NYSE:CWT) Shares Acquired by Canvas Wealth Advisors LLC

Canvas Wealth Advisors LLC increased its position in California Water Service Group (NYSE:CWT - Free Report) by 139.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,900 shares of the utilities provider's stock after purchasing an additional 10,999 shares during the period. Canvas Wealth Advisors LLC's holdings in California Water Service Group were worth $971,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. grew its position in shares of California Water Service Group by 4.1% in the 4th quarter. Principal Financial Group Inc. now owns 288,923 shares of the utilities provider's stock worth $13,097,000 after acquiring an additional 11,328 shares in the last quarter. Atria Wealth Solutions Inc. bought a new position in California Water Service Group during the fourth quarter worth $230,000. Ieq Capital LLC bought a new position in California Water Service Group during the fourth quarter worth $202,000. Handelsbanken Fonder AB boosted its holdings in California Water Service Group by 6.5% in the fourth quarter. Handelsbanken Fonder AB now owns 20,724 shares of the utilities provider's stock worth $939,000 after purchasing an additional 1,270 shares during the period. Finally, Y Intercept Hong Kong Ltd boosted its holdings in California Water Service Group by 207.8% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 13,554 shares of the utilities provider's stock worth $614,000 after purchasing an additional 9,151 shares during the period. 82.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at California Water Service Group

In other news, Director Lester A. Snow sold 1,200 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $46.51, for a total value of $55,812.00. Following the completion of the transaction, the director now directly owns 26,349 shares in the company, 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 SEC, which is accessible through this link. 0.77% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of California Water Service Group from a "hold" rating to a "sell" rating in a research report on Saturday, June 21st. Wells Fargo & Company raised their target price on shares of California Water Service Group from $54.00 to $59.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Finally, Seaport Res Ptn raised California Water Service Group from a "hold" rating to a "strong-buy" rating in a report on Friday, April 11th.

California Water Service Group Price Performance

NYSE CWT opened at $45.31 on Friday. California Water Service Group has a 52 week low of $41.64 and a 52 week high of $56.25. The company has a current ratio of 0.53, a quick ratio of 0.49 and a debt-to-equity ratio of 0.68. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of 19.87, a price-to-earnings-growth ratio of 2.25 and a beta of 0.66. The company has a 50-day moving average price of $47.60 and a two-hundred day moving average price of $46.66.

California Water Service Group (NYSE:CWT - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The utilities provider reported $0.22 earnings per share (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 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%. During the same quarter in the prior year, the business posted $1.21 earnings per share. The company's revenue for the quarter was down 24.7% compared to the same quarter last year. Analysts forecast that California Water Service Group will post 3.15 EPS for the current year.

California Water Service Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors 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 dividend on an annualized basis and a yield of 2.65%. California Water Service Group's dividend payout ratio is presently 52.63%.

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.

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