Deutsche Bank AG Invests $4.32 Million in California Water Service Group $CWT

Key Points

• Deutsche Bank acquired 88,732 shares of California Water Service Group worth approximately $4.32 million, while institutional investors collectively own 82.78% of the company.
• Analysts maintain a consensus “Hold” rating with a $54 price target. CWT recently reported quarterly EPS of $0.93, beating estimates, and revenue rose 16.5% year over year to $308.6 million.
• The company paid a quarterly dividend of $0.335 per share, equivalent to an annualized $1.34 payout and a 2.6% yield; meanwhile, director Thomas M. Krummel sold 3,700 shares.

Deutsche Bank AG bought a new position in California Water Service Group (NYSE:CWT - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 88,732 shares of the utilities provider's stock, valued at approximately $4,317,000. Deutsche Bank AG owned about 0.14% of California Water Service Group as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of California Water Service Group by 8.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,341 shares of the utilities provider's stock valued at $2,294,000 after purchasing an additional 3,810 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in California Water Service Group by 21.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 311,502 shares of the utilities provider's stock worth $15,095,000 after buying an additional 54,277 shares during the period. Jane Street Group LLC purchased a new stake in California Water Service Group during the first quarter valued at about $5,979,000. Focus Partners Wealth boosted its holdings in shares of California Water Service Group by 432.4% in the first quarter. Focus Partners Wealth now owns 27,161 shares of the utilities provider's stock worth $1,316,000 after buying an additional 22,059 shares during the period. Finally, Intech Investment Management LLC boosted its holdings in shares of California Water Service Group by 16.4% in the first quarter. Intech Investment Management LLC now owns 28,810 shares of the utilities provider's stock worth $1,396,000 after buying an additional 4,055 shares during the period. 82.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CWT shares. Robert W. Baird set a $54.00 price target on shares of California Water Service Group in a report on Friday, May 1st. Seaport Research Partners reaffirmed a "buy" rating and issued a $53.00 price objective on shares of California Water Service Group in a research note on Wednesday, August 12th. Weiss Ratings upgraded shares of California Water Service Group from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, August 4th. Finally, Wall Street Zen raised shares of California Water Service Group from a "sell" rating to a "hold" rating in a research note on Saturday, July 18th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $54.00.

Insiders Place Their Bets

In other California Water Service Group news, Director Thomas M. Krummel sold 3,700 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $50.37, for a total value of $186,369.00. Following the completion of the sale, the director owned 20,104 shares in the company, valued at $1,012,638.48. This represents a 15.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.78% of the company's stock.

California Water Service Group Trading Down 0.5%

Shares of NYSE CWT opened at $50.58 on Wednesday. California Water Service Group has a one year low of $41.29 and a one year high of $53.82. The firm has a market capitalization of $3.13 billion, a PE ratio of 22.78, a PEG ratio of 1.80 and a beta of 0.50. The company has a current ratio of 0.70, a quick ratio of 0.67 and a debt-to-equity ratio of 0.81. The business has a 50-day moving average price of $49.57 and a two-hundred day moving average price of $46.61.

California Water Service Group (NYSE:CWT - Get Free Report) last issued its earnings results on Thursday, July 30th. The utilities provider reported $0.93 earnings per share for the quarter, beating analysts' consensus estimates of $0.80 by $0.13. The company had revenue of $308.60 million for the quarter, compared to the consensus estimate of $283.50 million. California Water Service Group had a return on equity of 7.74% and a net margin of 12.63%.The firm's quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.71 EPS. As a group, analysts predict that California Water Service Group will post 2.57 earnings per share for the current fiscal year.

California Water Service Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Monday, August 10th were given a dividend of $0.335 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $1.34 dividend on an annualized basis and a yield of 2.6%. California Water Service Group's payout ratio is presently 60.36%.

California Water Service Group Company Profile

California Water Service Group NYSE: CWT is a publicly traded holding company that provides regulated water utility services through its subsidiaries. The company delivers safe, reliable drinking water and wastewater management to residential, commercial, industrial and municipal customers across California, Hawaii and New Mexico. Its principal operating units include California Water Service, New Mexico Water Service and Hawaii Water Service, each responsible for end‐to‐end water supply operations—from source development and treatment to distribution and customer service.

Founded in 1926 as the California Water Service Company, the group has grown to become one of the largest investor‐owned water utilities in the United States by customer count.

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