Jupiter Asset Management Ltd. Makes New $5.46 Million Investment in 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 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 112,681 shares of the utilities provider's stock, valued at approximately $5,461,000. Jupiter Asset Management Ltd. owned approximately 0.19% of California Water Service Group as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc raised 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 acquiring an additional 601 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in California Water Service Group in the 1st quarter worth approximately $34,000. Sterling Capital Management LLC lifted its stake in shares of California Water Service Group by 785.8% during the fourth quarter. Sterling Capital Management LLC now owns 1,435 shares of the utilities provider's stock valued at $65,000 after acquiring an additional 1,273 shares during the period. Mather Group LLC. bought a new position in California Water Service Group in the first quarter valued at about $74,000. Finally, Putney Financial Group LLC bought a new stake in California Water Service Group during the 4th quarter worth about $78,000. 82.78% of the stock is owned by institutional investors.

California Water Service Group Trading Up 1.1%

Shares of CWT stock traded up $0.49 on Monday, hitting $46.99. The stock had a trading volume of 314,564 shares, compared to its average volume of 356,544. The firm has a market cap of $2.80 billion, a P/E ratio of 20.52, a PEG ratio of 2.25 and a beta of 0.66. California Water Service Group has a twelve month low of $41.64 and a twelve month high of $56.25. The company has a current ratio of 0.53, a quick ratio of 0.50 and a debt-to-equity ratio of 0.67. The company has a fifty day moving average price of $45.98 and a two-hundred day moving average price of $46.71.

California Water Service Group (NYSE:CWT - Get Free Report) last announced its quarterly 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 during the quarter, compared to the consensus estimate of $238.20 million. California Water Service Group had a return on equity of 8.28% and a net margin of 13.71%. The company's revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.70 earnings per share. As a group, analysts forecast that California Water Service Group will post 3.15 earnings per share for the current fiscal year.

California Water Service Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Monday, August 11th will be given 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 of this dividend is Monday, August 11th. California Water Service Group's dividend payout ratio is currently 52.40%.

Insider Buying and Selling at California Water Service Group

In other California Water Service Group news, Director Lester A. Snow sold 1,200 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $46.51, for a total value of $55,812.00. Following the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.73% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Seaport Res Ptn upgraded shares of California Water Service Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. Wall Street Zen raised California Water Service Group from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, Wells Fargo & Company cut their target price on California Water Service Group from $59.00 to $55.00 and set an "overweight" rating on the stock in a research note on Friday.

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.