California Water Service Group (NYSE:CWT) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. grew its position in California Water Service Group (NYSE:CWT - Free Report) by 39.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 255,232 shares of the utilities provider's stock after buying an additional 72,519 shares during the quarter. Victory Capital Management Inc. owned 0.43% of California Water Service Group worth $12,369,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in CWT. Raymond James Financial Inc. purchased a new position in shares of California Water Service Group in the fourth quarter valued at $4,704,000. HighTower Advisors LLC increased its position in shares of California Water Service Group by 10.5% in the fourth quarter. HighTower Advisors LLC now owns 23,205 shares of the utilities provider's stock valued at $1,052,000 after buying an additional 2,209 shares in the last quarter. Commonwealth Equity Services LLC increased its position in shares of California Water Service Group by 3.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 12,228 shares of the utilities provider's stock valued at $554,000 after buying an additional 382 shares in the last quarter. Corient Private Wealth LLC increased its position in shares of California Water Service Group by 3.6% in the fourth quarter. Corient Private Wealth LLC now owns 9,420 shares of the utilities provider's stock valued at $427,000 after buying an additional 327 shares in the last quarter. Finally, Cibc World Markets Corp purchased a new position in shares of California Water Service Group in the fourth quarter valued at $253,000. Hedge funds and other institutional investors own 82.78% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Wall Street Zen cut California Water Service Group from a "hold" rating to a "sell" rating in a research report on Saturday, June 21st. Seaport Res Ptn upgraded California Water Service Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. Finally, 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 research report on Friday, May 2nd.

Insider Transactions at California Water Service Group

In other California Water Service Group news, Director Lester A. Snow sold 1,200 shares of the firm's stock in a transaction dated 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 directly owned 26,349 shares of the company's stock, valued at approximately $1,225,491.99. This trade represents a 4.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.77% of the company's stock.

California Water Service Group Price Performance

California Water Service Group stock traded down $0.17 during midday trading on Friday, reaching $44.88. 367,541 shares of the company were exchanged, compared to its average volume of 315,386. The firm's 50-day simple moving average is $46.20 and its 200-day simple moving average is $46.60. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.49 and a current ratio of 0.53. California Water Service Group has a 1 year low of $41.64 and a 1 year high of $56.25. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of 19.68, a P/E/G ratio of 2.21 and a beta of 0.64.

California Water Service Group (NYSE:CWT - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The utilities provider reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.16 by $0.06. California Water Service Group had a return on equity of 8.32% and a net margin of 13.84%. The firm had revenue of $203.97 million for the quarter, compared to analyst estimates of $194.80 million. During the same period last year, the company earned $1.21 EPS. The firm's quarterly revenue was down 24.7% on a year-over-year basis. On average, analysts anticipate that California Water Service Group will post 3.15 EPS for the current year.

California Water Service Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 12th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date was Monday, May 12th. California Water Service Group's payout ratio is 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.