Cbre Investment Management Listed Real Assets LLC Has $33.95 Million Position in California Water Service Group $CWT

Key Points

• Cbre Investment Management Listed Real Assets LLC increased its holdings in California Water Service Group by 8.0%, owning approximately 1.18% of the company valued at $33.9 million.
• CWT's quarterly earnings report showed earnings per share of $0.71, surpassing analysts’ expectations of $0.46, with revenue of $264.95 million, up 8.5% from the previous year.
• The stock has a current average target price of $56.00, with ratings including one "Strong Buy" and two "Buy" from analysts, indicating a generally positive outlook.

Cbre Investment Management Listed Real Assets LLC lifted its holdings in shares of California Water Service Group (NYSE:CWT - Free Report) by 8.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 700,564 shares of the utilities provider's stock after purchasing an additional 52,158 shares during the quarter. Cbre Investment Management Listed Real Assets LLC owned 1.18% of California Water Service Group worth $33,949,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of CWT. Nuance Investments LLC raised its position in shares of California Water Service Group by 35.4% during the first quarter. Nuance Investments LLC now owns 2,017,511 shares of the utilities provider's stock worth $97,769,000 after purchasing an additional 527,343 shares during the period. Nuveen LLC acquired a new stake in shares of California Water Service Group during the first quarter worth about $21,562,000. Raymond James Financial Inc. raised its position in shares of California Water Service Group by 204.2% during the first quarter. Raymond James Financial Inc. now owns 315,685 shares of the utilities provider's stock worth $15,298,000 after purchasing an additional 211,914 shares during the period. 1832 Asset Management L.P. acquired a new stake in shares of California Water Service Group during the first quarter worth about $9,692,000. Finally, Northern Trust Corp raised its position in shares of California Water Service Group by 13.1% during the fourth 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 during the period. Institutional investors and hedge funds own 82.78% of the company's stock.

California Water Service Group Stock Down 0.3%

Shares of NYSE:CWT traded down $0.14 during trading on Thursday, hitting $47.01. 46,439 shares of the company were exchanged, compared to its average volume of 363,471. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 20.53, a P/E/G ratio of 2.23 and a beta of 0.66. California Water Service Group has a fifty-two week low of $41.64 and a fifty-two week high of $56.25. The firm has a fifty day moving average price of $46.09 and a two-hundred day moving average price of $46.95. The company has a current ratio of 0.53, a quick ratio of 0.50 and a debt-to-equity ratio of 0.67.

California Water Service Group (NYSE:CWT - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.25. The firm had revenue of $264.95 million for the quarter, compared to analyst estimates of $238.20 million. California Water Service Group had a return on equity of 8.28% and a net margin of 13.71%.The business's quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.70 EPS. As a group, research analysts anticipate that California Water Service Group will post 3.15 earnings per share for the current fiscal year.

California Water Service Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Monday, August 11th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.20 annualized dividend and a dividend yield of 2.6%. California Water Service Group's payout ratio is 52.40%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CWT. Wall Street Zen raised California Water Service Group from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Wells Fargo & Company dropped their target price on California Water Service Group from $59.00 to $55.00 and set an "overweight" rating on the stock in a research report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $56.00.

Insider Buying and Selling at California Water Service Group

In other California Water Service Group news, Director Lester A. Snow sold 1,200 shares of the business'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 transaction of $55,812.00. Following the transaction, the director owned 26,349 shares of the company's stock, valued at $1,225,491.99. The trade was a 4.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.77% of the stock is owned by company insiders.

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.