KBC Group NV Sells 62,335 Shares of California Water Service Group (NYSE:CWT)

KBC Group NV lowered its holdings in California Water Service Group (NYSE:CWT - Free Report) by 10.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 563,961 shares of the utilities provider's stock after selling 62,335 shares during the quarter. KBC Group NV owned about 0.95% of California Water Service Group worth $27,330,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its position in California Water Service Group by 21.2% in the fourth quarter. Bank of New York Mellon Corp now owns 634,179 shares of the utilities provider's stock worth $28,747,000 after purchasing an additional 110,962 shares during the last quarter. US Bancorp DE grew its position in California Water Service Group by 9.0% during the fourth quarter. US Bancorp DE now owns 5,816 shares of the utilities provider's stock valued at $264,000 after buying an additional 479 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in California Water Service Group by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 722,163 shares of the utilities provider's stock worth $32,736,000 after buying an additional 11,205 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC raised its position in California Water Service Group by 5.9% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 648,406 shares of the utilities provider's stock worth $29,392,000 after acquiring an additional 36,142 shares during the period. Finally, Aigen Investment Management LP boosted its stake in California Water Service Group by 18.1% in the fourth quarter. Aigen Investment Management LP now owns 4,954 shares of the utilities provider's stock valued at $225,000 after acquiring an additional 760 shares during the last quarter. 82.78% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CWT shares. Wall Street Zen cut shares of California Water Service Group from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. Wells Fargo & Company raised their target price on California Water Service Group from $54.00 to $59.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Finally, Seaport Res Ptn upgraded California Water Service Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 11th.

California Water Service Group Price Performance

Shares of CWT traded down $0.46 during midday trading on Friday, hitting $45.78. 163,445 shares of the company traded hands, compared to its average volume of 337,324. California Water Service Group has a one year low of $41.64 and a one year high of $56.25. The firm has a market cap of $2.73 billion, a P/E ratio of 20.08, a PEG ratio of 2.25 and a beta of 0.64. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.53 and a quick ratio of 0.49. The stock has a 50-day moving average of $47.05 and a 200-day moving average of $46.55.

California Water Service Group (NYSE:CWT - Get Free Report) last posted its earnings results on Thursday, May 1st. The utilities provider reported $0.22 EPS for the quarter, topping the consensus estimate of $0.16 by $0.06. California Water Service Group had a return on equity of 8.32% and a net margin of 13.84%. The business had revenue of $203.97 million during the quarter, compared to analysts' expectations of $194.80 million. During the same period in the previous year, the business earned $1.21 earnings per share. The firm's revenue was down 24.7% on a year-over-year basis. As a group, sell-side analysts predict that California Water Service Group will post 3.15 EPS for the current fiscal year.

California Water Service Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 12th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend was Monday, May 12th. California Water Service Group's payout ratio is 52.63%.

Insider Buying and Selling 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 completion of the sale, the director directly owned 26,349 shares of the company's stock, 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. Company insiders own 0.77% of the company's stock.

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.