California Water Service Group (NYSE:CWT) Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp increased its position in California Water Service Group (NYSE:CWT - Free Report) by 144.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,622 shares of the utilities provider's stock after acquiring an additional 5,684 shares during the period. Mackenzie Financial Corp's holdings in California Water Service Group were worth $436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in California Water Service Group by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 7,514,709 shares of the utilities provider's stock worth $340,642,000 after acquiring an additional 158,295 shares during the last quarter. First Trust Advisors LP raised its stake in California Water Service Group by 4.9% in the 4th quarter. First Trust Advisors LP now owns 1,689,977 shares of the utilities provider's stock worth $76,607,000 after acquiring an additional 79,658 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of California Water Service Group by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 1,360,158 shares of the utilities provider's stock valued at $61,670,000 after buying an additional 22,192 shares during the last quarter. Northern Trust Corp raised its stake in shares of California Water Service Group by 13.1% during the 4th quarter. Northern Trust Corp now owns 979,138 shares of the utilities provider's stock valued at $44,384,000 after buying an additional 113,622 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of California Water Service Group by 5.6% during the 4th quarter. Invesco Ltd. now owns 928,148 shares of the utilities provider's stock valued at $42,073,000 after buying an additional 49,107 shares during the last quarter. Hedge funds and other institutional investors own 82.78% of the company's stock.

California Water Service Group Stock Performance

Shares of NYSE CWT traded down $0.29 during trading on Friday, reaching $45.56. 241,760 shares of the company traded hands, compared to its average volume of 331,582. The firm's fifty day simple moving average is $48.35 and its 200 day simple moving average is $47.05. The stock has a market cap of $2.71 billion, a P/E ratio of 13.17, a PEG ratio of 0.46 and a beta of 0.66. California Water Service Group has a 12-month low of $41.64 and a 12-month high of $56.25. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 0.64.

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, beating analysts' consensus estimates of $0.16 by $0.06. California Water Service Group had a return on equity of 13.24% and a net margin of 19.56%. The firm had revenue of $203.97 million for the quarter, compared to analysts' expectations of $194.80 million. During the same period last year, the firm earned $1.21 EPS. The company's quarterly revenue was down 24.7% on a year-over-year basis. As a group, research analysts anticipate 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 announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 12th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend was Monday, May 12th. California Water Service Group's dividend payout ratio (DPR) is presently 52.63%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. 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. Wells Fargo & Company lifted their price objective on California Water Service Group from $54.00 to $59.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Finally, Wall Street Zen upgraded California Water Service Group from a "sell" rating to a "hold" rating in a research note on Friday.

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.