Assenagon Asset Management S.A. Sells 30,472 Shares of California Water Service Group (NYSE:CWT)

Assenagon Asset Management S.A. decreased its holdings in California Water Service Group (NYSE:CWT - Free Report) by 43.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 40,292 shares of the utilities provider's stock after selling 30,472 shares during the quarter. Assenagon Asset Management S.A. owned 0.07% of California Water Service Group worth $1,953,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Versant Capital Management Inc boosted its stake in California Water Service Group by 751.3% during the first quarter. Versant Capital Management Inc now owns 681 shares of the utilities provider's stock valued at $33,000 after buying an additional 601 shares in the last quarter. Parkworth Wealth Management Inc. purchased a new stake in shares of California Water Service Group during the fourth quarter valued at $50,000. Sterling Capital Management LLC lifted its holdings in shares of California Water Service Group by 785.8% during the fourth quarter. Sterling Capital Management LLC now owns 1,435 shares of the utilities provider's stock valued at $65,000 after purchasing an additional 1,273 shares during the last quarter. Putney Financial Group LLC purchased a new stake in shares of California Water Service Group during the fourth quarter valued at $78,000. Finally, Federated Hermes Inc. lifted its holdings in shares of California Water Service Group by 27.6% during the fourth quarter. Federated Hermes Inc. now owns 1,969 shares of the utilities provider's stock valued at $89,000 after purchasing an additional 426 shares during the last quarter. Institutional investors own 82.78% of the company's stock.

California Water Service Group Stock Up 0.5%

California Water Service Group stock traded up $0.21 during mid-day trading on Thursday, hitting $46.10. The company's stock had a trading volume of 310,497 shares, compared to its average volume of 332,127. The firm's 50 day moving average is $48.04 and its 200 day moving average is $46.75. The company has a market cap of $2.75 billion, a PE ratio of 20.22, a price-to-earnings-growth ratio of 2.27 and a beta of 0.66. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.53 and a quick ratio of 0.49. California Water Service Group has a 52-week low of $41.64 and a 52-week high of $56.25.

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 (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.06. The firm had revenue of $203.97 million during the quarter, compared to the consensus estimate of $194.80 million. California Water Service Group had a return on equity of 8.32% and a net margin of 13.84%. The business's revenue for the quarter was down 24.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.21 EPS. On average, analysts anticipate that California Water Service Group will post 3.15 earnings per share for the current year.

California Water Service Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 12th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.60%. The ex-dividend date was Monday, May 12th. California Water Service Group's dividend payout ratio is currently 52.63%.

Insider Transactions at California Water Service Group

In related news, Director Lester A. Snow sold 1,200 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $46.51, for a total value of $55,812.00. Following the transaction, the director now directly owns 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.77% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CWT shares. Seaport Res Ptn raised California Water Service Group from a "hold" rating to a "strong-buy" rating in a report on Friday, April 11th. Wells Fargo & Company upped their target price on California Water Service Group from $54.00 to $59.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Finally, Wall Street Zen raised California Water Service Group from a "sell" rating to a "hold" rating in a report on Friday, June 6th.

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.