Deutsche Bank AG Acquires 16,786 Shares of California Water Service Group (NYSE:CWT)

Deutsche Bank AG grew its holdings in California Water Service Group (NYSE:CWT - Free Report) by 16.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 119,904 shares of the utilities provider's stock after acquiring an additional 16,786 shares during the period. Deutsche Bank AG owned about 0.20% of California Water Service Group worth $5,435,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in CWT. Parkworth Wealth Management Inc. purchased a new position in shares of California Water Service Group in the fourth quarter valued at about $50,000. Sterling Capital Management LLC lifted its position in shares of California Water Service Group by 785.8% in the fourth quarter. Sterling Capital Management LLC now owns 1,435 shares of the utilities provider's stock valued at $65,000 after acquiring an additional 1,273 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of California Water Service Group by 27.6% in the fourth quarter. Federated Hermes Inc. now owns 1,969 shares of the utilities provider's stock valued at $89,000 after acquiring an additional 426 shares in the last quarter. Millstone Evans Group LLC purchased a new stake in shares of California Water Service Group in the fourth quarter worth about $102,000. Finally, GeoWealth Management LLC purchased a new stake in shares of California Water Service Group in the fourth quarter worth about $124,000. 82.78% of the stock is currently owned by hedge funds and other institutional investors.

California Water Service Group Price Performance

Shares of NYSE:CWT traded down $0.53 during mid-day trading on Thursday, reaching $46.88. The stock had a trading volume of 358,602 shares, compared to its average volume of 332,250. California Water Service Group has a 1 year low of $41.64 and a 1 year high of $56.25. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 0.64. The business's 50 day moving average price is $48.42 and its 200 day moving average price is $47.42. The company has a market cap of $2.79 billion, a P/E ratio of 13.55, a price-to-earnings-growth ratio of 0.46 and a beta of 0.70.

California Water Service Group (NYSE:CWT - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The utilities provider reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $194.80 million. During the same period in the prior year, the business posted $1.21 earnings per share. The company's quarterly revenue was down 24.7% compared to the same quarter last year. Research analysts expect that California Water Service Group will post 3.15 EPS for the current fiscal year.

California Water Service Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 12th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, May 12th. This represents a $1.20 dividend on an annualized basis and a yield of 2.56%. California Water Service Group's dividend payout ratio (DPR) is presently 52.63%.

Analyst Ratings Changes

A number of research firms recently commented on CWT. Seaport Res Ptn upgraded California Water Service Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. 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 report on Friday, May 2nd. Finally, Wall Street Zen upgraded California Water Service Group from a "sell" rating to a "hold" rating in a research report on Friday, April 11th.

California Water Service Group Company 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.