First National Corp MA ADV Has $1.75 Million Stock Position in California Water Service Group $CWT

Key Points

• First National Corp MA ADV has reduced its stake in California Water Service Group by 21.9%, now owning about $1.75 million worth of the stock.
• The utility provider reported $0.71 EPS for the latest quarter, exceeding analysts' estimates by $0.25, and its revenue increased by 8.5% year-over-year.
• California Water Service Group's recent quarterly dividend was $0.30 per share, representing an annualized yield of 2.7% with a payout ratio of 52.40%.

First National Corp MA ADV trimmed its position in California Water Service Group (NYSE:CWT - Free Report) by 21.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,366 shares of the utilities provider's stock after selling 10,787 shares during the quarter. First National Corp MA ADV owned about 0.06% of California Water Service Group worth $1,745,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Versant Capital Management Inc lifted its stake in shares of California Water Service Group by 751.3% in the first quarter. Versant Capital Management Inc now owns 681 shares of the utilities provider's stock worth $33,000 after buying an additional 601 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of California Water Service Group in the first quarter worth $34,000. Mather Group LLC. acquired a new stake in shares of California Water Service Group in the first quarter worth $74,000. Putney Financial Group LLC acquired a new stake in shares of California Water Service Group in the fourth quarter worth $78,000. Finally, Spirit of America Management Corp NY acquired a new position in California Water Service Group during the 1st quarter valued at $97,000. 82.78% of the stock is currently owned by institutional investors and hedge funds.

California Water Service Group Trading Down 2.2%

Shares of California Water Service Group stock opened at $45.23 on Tuesday. The stock has a market capitalization of $2.69 billion, a P/E ratio of 19.75, a price-to-earnings-growth ratio of 2.21 and a beta of 0.69. The company has a quick ratio of 0.50, a current ratio of 0.53 and a debt-to-equity ratio of 0.67. The company has a 50-day simple moving average of $46.18 and a 200 day simple moving average of $47.06. California Water Service Group has a 12-month low of $41.64 and a 12-month high of $56.25.

California Water Service Group (NYSE:CWT - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.71 EPS for the quarter, topping analysts' consensus estimates of $0.46 by $0.25. California Water Service Group had a net margin of 13.71% and a return on equity of 8.28%. The firm had revenue of $264.95 million for the quarter, compared to analyst estimates of $238.20 million. During the same quarter in the prior year, the firm earned $0.70 EPS. The company's revenue was up 8.5% on a year-over-year basis. Research analysts expect 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 disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Monday, August 11th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.20 dividend on an annualized basis and a yield of 2.7%. California Water Service Group's dividend payout ratio is currently 52.40%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CWT shares. Wells Fargo & Company cut their target price on shares of California Water Service Group from $59.00 to $55.00 and set an "overweight" rating for the company in a research note on Friday, August 1st. Wall Street Zen upgraded shares of California Water Service Group from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. Based on data from MarketBeat, California Water Service Group presently has a consensus rating of "Buy" and a consensus price target of $56.00.

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.

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