Jupiter Asset Management Ltd. Acquires Shares of 112,681 California Water Service Group (NYSE:CWT)

Jupiter Asset Management Ltd. bought a new stake in California Water Service Group (NYSE:CWT - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 112,681 shares of the utilities provider's stock, valued at approximately $5,461,000. Jupiter Asset Management Ltd. owned 0.19% of California Water Service Group at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc boosted its holdings 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 period. Banque Cantonale Vaudoise bought a new stake in California Water Service Group in the first quarter worth approximately $34,000. Sterling Capital Management LLC raised 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 purchasing an additional 1,273 shares during the period. Mather Group LLC. acquired a new position in California Water Service Group during the 1st quarter valued at $74,000. Finally, Putney Financial Group LLC bought a new position in California Water Service Group in the fourth quarter worth $78,000. Institutional investors and hedge funds own 82.78% of the company's stock.

Insider Activity

In other news, Director Lester A. Snow sold 1,200 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $46.51, for a total transaction of $55,812.00. Following the transaction, 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 filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.77% of the company's stock.

Wall Street Analyst Weigh In

CWT has been the subject of a number of research reports. Wall Street Zen raised California Water Service Group from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Seaport Res Ptn upgraded shares of California Water Service Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 11th. Finally, Wells Fargo & Company reduced their price objective on California Water Service Group from $59.00 to $55.00 and set an "overweight" rating for the company in a report on Friday, August 1st.

California Water Service Group Trading Up 1.6%

NYSE:CWT traded up $0.73 during trading hours on Thursday, hitting $46.98. 128,418 shares of the company were exchanged, compared to its average volume of 372,263. The company has a fifty day simple moving average of $45.97 and a 200 day simple moving average of $46.71. California Water Service Group has a one year low of $41.64 and a one year high of $56.25. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of 20.52, a price-to-earnings-growth ratio of 2.25 and a beta of 0.66. The company has a current ratio of 0.53, a quick ratio of 0.50 and a debt-to-equity ratio of 0.67.

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 return on equity of 8.28% and a net margin of 13.71%. The firm had revenue of $264.95 million during the quarter, compared to analyst estimates of $238.20 million. During the same period in the previous year, the company posted $0.70 EPS. The company's revenue for the quarter was up 8.5% on a year-over-year basis. Sell-side analysts expect that California Water Service Group will post 3.15 EPS for the current fiscal year.

California Water Service Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Monday, August 11th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Monday, August 11th. California Water Service Group's dividend payout ratio (DPR) is presently 52.40%.

California Water Service Group 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.