Millennium Management LLC Has $3.12 Million Stock Holdings in California Water Service Group (NYSE:CWT)

Millennium Management LLC lowered its stake in California Water Service Group (NYSE:CWT - Free Report) by 55.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 68,850 shares of the utilities provider's stock after selling 84,544 shares during the period. Millennium Management LLC owned approximately 0.12% of California Water Service Group worth $3,121,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of CWT. Norges Bank acquired a new position in California Water Service Group in the 4th quarter valued at about $37,998,000. Vanguard Group Inc. grew its stake in California Water Service Group by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 7,514,709 shares of the utilities provider's stock valued at $340,642,000 after buying an additional 158,295 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of California Water Service Group by 91.0% during the 4th quarter. JPMorgan Chase & Co. now owns 308,704 shares of the utilities provider's stock worth $13,994,000 after purchasing an additional 147,043 shares in the last quarter. Northern Trust Corp grew its position in shares of California Water Service Group by 13.1% during the 4th quarter. Northern Trust Corp now owns 979,138 shares of the utilities provider's stock worth $44,384,000 after purchasing an additional 113,622 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of California Water Service Group by 21.2% during the 4th quarter. Bank of New York Mellon Corp now owns 634,179 shares of the utilities provider's stock worth $28,747,000 after purchasing an additional 110,962 shares in the last quarter. Institutional investors and hedge funds own 82.78% of the company's stock.

California Water Service Group Price Performance

NYSE:CWT traded down $0.89 on Wednesday, hitting $45.72. The company had a trading volume of 236,072 shares, compared to its average volume of 330,567. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 0.64. California Water Service Group has a 52 week low of $41.64 and a 52 week high of $56.25. The firm has a 50 day moving average of $48.47 and a two-hundred day moving average of $47.12. The stock has a market capitalization of $2.72 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 0.46 and a beta of 0.70.

California Water Service Group (NYSE:CWT - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The utilities provider reported $0.22 earnings per share for the quarter, topping the consensus estimate 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 analysts' expectations of $194.80 million. During the same period in the prior year, the company posted $1.21 earnings per share. California Water Service Group's revenue for the quarter was down 24.7% compared to the same quarter last year. On average, research 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 business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 12th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend was Monday, May 12th. California Water Service Group's payout ratio is 52.63%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Seaport Res Ptn upgraded shares of California Water Service Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. Wall Street Zen downgraded shares of California Water Service Group from a "hold" rating to a "sell" rating in a report on Saturday, May 24th. Finally, Wells Fargo & Company upped their price target 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.

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.