Voloridge Investment Management LLC Has $901,000 Stock Position in California Water Service Group (NYSE:CWT)

Voloridge Investment Management LLC grew its holdings in California Water Service Group (NYSE:CWT - Free Report) by 93.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,883 shares of the utilities provider's stock after acquiring an additional 9,581 shares during the quarter. Voloridge Investment Management LLC's holdings in California Water Service Group were worth $901,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CWT. Squarepoint Ops LLC bought a new stake in shares of California Water Service Group during the 4th quarter valued at $602,000. State of Wyoming increased its stake in shares of California Water Service Group by 136.4% in the 4th quarter. State of Wyoming now owns 2,291 shares of the utilities provider's stock valued at $104,000 after purchasing an additional 1,322 shares during the last quarter. ProShare Advisors LLC raised its holdings in shares of California Water Service Group by 23.6% during the 4th quarter. ProShare Advisors LLC now owns 182,201 shares of the utilities provider's stock worth $8,259,000 after buying an additional 34,831 shares in the last quarter. Man Group plc lifted its position in shares of California Water Service Group by 102.1% during the 4th quarter. Man Group plc now owns 101,490 shares of the utilities provider's stock worth $4,601,000 after buying an additional 51,283 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its position in shares of California Water Service Group by 5.1% during the 4th quarter. Nuveen Asset Management LLC now owns 317,419 shares of the utilities provider's stock worth $14,389,000 after buying an additional 15,405 shares during the last quarter. 82.78% of the stock is currently owned by institutional investors and hedge funds.

California Water Service Group Price Performance

CWT stock traded down $0.11 during midday trading on Tuesday, reaching $46.65. 201,500 shares of the stock were exchanged, compared to its average volume of 331,689. California Water Service Group has a 52 week low of $41.64 and a 52 week high of $56.25. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.64 and a quick ratio of 0.60. The stock has a market capitalization of $2.78 billion, a PE ratio of 13.48, a P/E/G ratio of 0.46 and a beta of 0.70. The company has a fifty day moving average price of $48.52 and a 200 day moving average price of $47.13.

California Water Service Group (NYSE:CWT - Get Free Report) last announced its 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. California Water Service Group had a return on equity of 13.24% and a net margin of 19.56%. The business had revenue of $203.97 million during the quarter, compared to analyst estimates of $194.80 million. During the same period last year, the company earned $1.21 EPS. California Water Service Group's revenue for the quarter was down 24.7% compared to the same quarter last year. As a group, analysts expect that California Water Service Group will post 3.15 EPS for the current fiscal year.

California Water Service Group Dividend Announcement

The company 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. This represents a $1.20 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend was Monday, May 12th. California Water Service Group's payout ratio is 52.63%.

Analyst Ratings Changes

Several research analysts have commented on CWT shares. Wells Fargo & Company boosted their target price 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 shares of California Water Service Group from a "hold" rating to a "strong-buy" rating in a report on Friday, April 11th. Finally, Wall Street Zen downgraded shares of California Water Service Group from a "hold" rating to a "sell" rating in a research note on Saturday, May 24th.

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.