GAMMA Investing LLC Acquires 40,500 Shares of California Water Service Group (NYSE:CWT)

GAMMA Investing LLC boosted its holdings in shares of California Water Service Group (NYSE:CWT - Free Report) by 4,124.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,482 shares of the utilities provider's stock after acquiring an additional 40,500 shares during the period. GAMMA Investing LLC owned about 0.07% of California Water Service Group worth $2,010,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Versant Capital Management Inc grew its holdings in California Water Service Group by 751.3% during the 1st quarter. Versant Capital Management Inc now owns 681 shares of the utilities provider's stock worth $33,000 after acquiring an additional 601 shares in the last quarter. California State Teachers Retirement System grew its holdings in California Water Service Group by 0.8% during the 4th quarter. California State Teachers Retirement System now owns 55,060 shares of the utilities provider's stock worth $2,496,000 after acquiring an additional 418 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of California Water Service Group by 75.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 10,534 shares of the utilities provider's stock valued at $477,000 after buying an additional 4,542 shares during the last quarter. Putney Financial Group LLC purchased a new stake in shares of California Water Service Group during the fourth quarter valued at about $78,000. Finally, Mackenzie Financial Corp lifted its position in shares of California Water Service Group by 144.3% during the fourth quarter. Mackenzie Financial Corp now owns 9,622 shares of the utilities provider's stock valued at $436,000 after buying an additional 5,684 shares during the last quarter. 82.78% of the stock is currently owned by institutional investors.

Insider Activity at California Water Service Group

In other California Water Service Group news, Director Lester A. Snow sold 1,200 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $46.51, for a total transaction of $55,812.00. Following the completion of the transaction, the director now directly owns 26,349 shares of the company's stock, valued at approximately $1,225,491.99. This trade represents a 4.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.77% of the stock is currently owned by insiders.

California Water Service Group Stock Performance

Shares of California Water Service Group stock opened at $46.32 on Friday. The firm has a market capitalization of $2.76 billion, a P/E ratio of 13.39, a PEG ratio of 0.46 and a beta of 0.66. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 0.64. The company has a 50 day moving average price of $48.18 and a 200 day moving average price of $46.88. 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 announced its quarterly earnings data on Thursday, May 1st. The utilities provider reported $0.22 EPS for the quarter, beating the consensus estimate of $0.16 by $0.06. The firm had revenue of $203.97 million during the quarter, compared to analyst estimates of $194.80 million. California Water Service Group had a net margin of 19.56% and a return on equity of 13.24%. California Water Service Group's revenue was down 24.7% on a year-over-year basis. During the same period last year, the firm posted $1.21 EPS. Sell-side analysts expect that California Water Service Group will post 3.15 EPS for the current year.

California Water Service Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 12th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.59%. The ex-dividend date was Monday, May 12th. California Water Service Group's payout ratio is currently 52.63%.

Wall Street Analysts Forecast Growth

Several research firms have commented on CWT. Wells Fargo & Company increased their price target on shares of California Water Service Group from $54.00 to $59.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Wall Street Zen raised shares of California Water Service Group from a "sell" rating to a "hold" rating in a research report on Friday, June 6th. Finally, Seaport Res Ptn raised shares of California Water Service Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th.

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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