Fox Run Management L.L.C. Invests $971,000 in California Water Service Group $CWT

Key Points

• Fox Run Management L.L.C. has invested approximately $971,000 in California Water Service Group by acquiring 20,046 shares during the first quarter.
• California Water Service Group reported a $0.71 EPS for the latest quarter, exceeding the consensus estimate of $0.46, with revenue increasing 8.5% year-over-year.
• The company will pay a quarterly dividend of $0.30 per share, with a yield of 2.6%, on August 22nd to shareholders of record as of August 11th.

Fox Run Management L.L.C. purchased a new position in California Water Service Group (NYSE:CWT - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 20,046 shares of the utilities provider's stock, valued at approximately $971,000.

Several other institutional investors also recently added to or reduced their stakes in CWT. LPL Financial LLC increased its stake in California Water Service Group by 10.9% in the 4th quarter. LPL Financial LLC now owns 21,540 shares of the utilities provider's stock worth $976,000 after buying an additional 2,116 shares during the period. Wells Fargo & Company MN grew its holdings in California Water Service Group by 8.6% during the 4th quarter. Wells Fargo & Company MN now owns 62,044 shares of the utilities provider's stock worth $2,812,000 after acquiring an additional 4,903 shares in the last quarter. Federated Hermes Inc. grew its holdings in California Water Service Group by 27.6% during the 4th quarter. Federated Hermes Inc. now owns 1,969 shares of the utilities provider's stock worth $89,000 after acquiring an additional 426 shares in the last quarter. Renaissance Technologies LLC bought a new position in California Water Service Group during the 4th quarter worth about $2,085,000. Finally, Raymond James Financial Inc. bought a new position in California Water Service Group during the 4th quarter worth about $4,704,000. Hedge funds and other institutional investors own 82.78% of the company's stock.

Insider Activity at California Water Service Group

In other news, Director Lester A. Snow sold 1,200 shares of the company's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $46.51, for a total value of $55,812.00. Following the sale, the director directly owned 26,349 shares of the company's stock, valued at $1,225,491.99. This represents a 4.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.77% of the stock is owned by company insiders.

California Water Service Group Stock Performance

NYSE:CWT traded up $0.21 during trading hours on Thursday, hitting $46.90. 49,465 shares of the company were exchanged, compared to its average volume of 366,703. The company's 50 day moving average price is $46.00 and its 200-day moving average price is $46.87. The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 2.25 and a beta of 0.66. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.53 and a quick ratio of 0.50. 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 released its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.71 EPS for the quarter, beating the consensus estimate of $0.46 by $0.25. The business had revenue of $264.95 million for the quarter, compared to the consensus estimate of $238.20 million. California Water Service Group had a net margin of 13.71% and a return on equity of 8.28%. The business's revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 EPS. As a group, research analysts forecast 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 will be paid on Friday, August 22nd. Stockholders of record on Monday, August 11th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, August 11th. California Water Service Group's dividend payout ratio is 52.40%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Wall Street Zen upgraded shares of California Water Service Group from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Wells Fargo & Company lowered their price target on shares of California Water Service Group from $59.00 to $55.00 and set an "overweight" rating on the stock in a report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price 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.