Nuance Investments LLC Grows Holdings in California Water Service Group (NYSE:CWT)

Key Points

• Nuance Investments LLC increased its stake in California Water Service Group (NYSE:CWT) by 35.4% during the first quarter, now holding over 2 million shares valued at approximately $97.77 million.
• California Water Service Group recently declared a quarterly dividend of $0.30 per share, with a dividend yield of 2.6% and a payout ratio of 52.40%.
• In its latest earnings report, California Water Service Group reported $0.71 earnings per share, surpassing analyst expectations by $0.25, and a revenue increase of 8.5% year-over-year.

Nuance Investments LLC lifted its holdings in shares of California Water Service Group (NYSE:CWT - Free Report) by 35.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,017,511 shares of the utilities provider's stock after acquiring an additional 527,343 shares during the period. California Water Service Group makes up 6.4% of Nuance Investments LLC's holdings, making the stock its 4th biggest holding. Nuance Investments LLC owned 3.39% of California Water Service Group worth $97,769,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Versant Capital Management Inc grew its position in California Water Service Group by 751.3% in the 1st quarter. Versant Capital Management Inc now owns 681 shares of the utilities provider's stock worth $33,000 after purchasing an additional 601 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in shares of California Water Service Group in the first quarter valued at approximately $34,000. Sterling Capital Management LLC increased its position 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 last quarter. Mather Group LLC. bought a new stake in California Water Service Group during the first quarter worth $74,000. Finally, Putney Financial Group LLC purchased 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 at California Water Service Group

In other news, Director Lester A. Snow sold 1,200 shares of the company's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $46.51, for a total value of $55,812.00. Following the transaction, the director owned 26,349 shares of the company's stock, valued at approximately $1,225,491.99. This represents a 4.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.73% of the stock is owned by company insiders.

California Water Service Group Stock Performance

NYSE CWT opened at $46.71 on Tuesday. The firm has a market cap of $2.78 billion, a P/E ratio of 20.40, a price-to-earnings-growth ratio of 2.26 and a beta of 0.66. The company has a quick ratio of 0.50, a current ratio of 0.53 and a debt-to-equity ratio of 0.67. The company's 50 day moving average is $45.95 and its 200-day moving average is $46.82. California Water Service Group has a 12-month low of $41.64 and a 12-month high of $56.25.

California Water Service Group (NYSE:CWT - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 8.28% and a net margin of 13.71%. The firm's revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.70 EPS. Sell-side analysts predict that California Water Service Group will post 3.15 earnings per share for the current year.

California Water Service Group Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Monday, August 11th. California Water Service Group's payout ratio is 52.40%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CWT. Wells Fargo & Company decreased their price objective on shares of 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. Wall Street Zen upgraded shares of California Water Service Group from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd.

California Water Service Group Company 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.

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