GSA Capital Partners LLP Takes $1.61 Million Position in California Water Service Group (NYSE:CWT)

GSA Capital Partners LLP purchased a new position in shares of California Water Service Group (NYSE:CWT - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 33,267 shares of the utilities provider's stock, valued at approximately $1,612,000. GSA Capital Partners LLP owned approximately 0.06% of California Water Service Group as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Federated Hermes Inc. raised its holdings in shares of California Water Service Group by 2,361.8% during the first quarter. Federated Hermes Inc. now owns 48,473 shares of the utilities provider's stock worth $2,349,000 after acquiring an additional 46,504 shares during the period. Mackenzie Financial Corp increased its stake in California Water Service Group by 54.7% in the 1st quarter. Mackenzie Financial Corp now owns 14,885 shares of the utilities provider's stock valued at $721,000 after buying an additional 5,263 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in California Water Service Group by 19.9% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,773 shares of the utilities provider's stock valued at $1,734,000 after purchasing an additional 5,935 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its stake in California Water Service Group by 34.9% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 46,739 shares of the utilities provider's stock valued at $2,265,000 after purchasing an additional 12,100 shares in the last quarter. Finally, Avantax Advisory Services Inc. acquired a new position in shares of California Water Service Group during the 1st quarter worth approximately $238,000. 82.78% of the stock is owned by institutional investors.

Insider Transactions at California Water Service Group

In other news, Director Lester A. Snow sold 1,200 shares of California Water Service Group stock in a transaction 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 transaction, the director owned 26,349 shares in the company, valued at approximately $1,225,491.99. The trade was a 4.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.77% of the stock is currently owned by company insiders.

California Water Service Group Stock Performance

Shares of CWT stock traded up $1.04 on Friday, hitting $46.51. The company's stock had a trading volume of 627,824 shares, compared to its average volume of 374,402. California Water Service Group has a fifty-two week low of $41.64 and a fifty-two week high of $56.25. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.49 and a current ratio of 0.53. The stock's 50 day moving average is $45.99 and its 200-day moving average is $46.64. The company has a market capitalization of $2.77 billion, a PE ratio of 20.40, a PEG ratio of 2.21 and a beta of 0.64.

California Water Service Group (NYSE:CWT - Get Free Report) last released its earnings results on Thursday, July 31st. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.25. The company had revenue of $264.95 million for the quarter, compared to analyst estimates of $238.20 million. California Water Service Group had a return on equity of 8.32% and a net margin of 13.84%. California Water Service Group's quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.70 EPS. Equities research analysts expect that California Water Service Group will post 3.15 earnings per share for the current fiscal year.

California Water Service Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Monday, August 11th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Monday, August 11th. California Water Service Group's dividend payout ratio (DPR) is 52.63%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CWT shares. Wells Fargo & Company cut their price objective on California Water Service Group from $59.00 to $55.00 and set an "overweight" rating for the company in a research report on Friday. 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. Finally, Wall Street Zen lowered shares of California Water Service Group from a "hold" rating to a "sell" rating in a research note on Saturday, June 21st.

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.