ProShare Advisors LLC Has $8.26 Million Holdings in California Water Service Group (NYSE:CWT)

ProShare Advisors LLC increased its position in California Water Service Group (NYSE:CWT - Free Report) by 23.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 182,201 shares of the utilities provider's stock after purchasing an additional 34,831 shares during the period. ProShare Advisors LLC owned about 0.31% of California Water Service Group worth $8,259,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Man Group plc increased its stake in California Water Service Group by 102.1% in the 4th quarter. Man Group plc now owns 101,490 shares of the utilities provider's stock valued at $4,601,000 after buying an additional 51,283 shares during the period. Nuveen Asset Management LLC lifted its holdings in shares of California Water Service Group by 5.1% during the fourth quarter. Nuveen Asset Management LLC now owns 317,419 shares of the utilities provider's stock worth $14,389,000 after buying an additional 15,405 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in California Water Service Group by 8.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,531 shares of the utilities provider's stock valued at $1,973,000 after purchasing an additional 3,505 shares during the period. Graham Capital Management L.P. grew its position in California Water Service Group by 153.7% during the fourth quarter. Graham Capital Management L.P. now owns 35,666 shares of the utilities provider's stock worth $1,617,000 after buying an additional 21,606 shares in the last quarter. Finally, Ethic Inc. grew its holdings in shares of California Water Service Group by 27.7% during the 4th quarter. Ethic Inc. now owns 6,563 shares of the utilities provider's stock worth $297,000 after purchasing an additional 1,425 shares in 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 CWT traded down $0.62 during midday trading on Wednesday, reaching $47.37. The stock had a trading volume of 247,473 shares, compared to its average volume of 331,999. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 0.64. The firm has a 50 day simple moving average of $48.42 and a 200-day simple moving average of $47.42. The firm has a market cap of $2.82 billion, a PE ratio of 13.69, a P/E/G ratio of 0.46 and a beta of 0.70. California Water Service Group has a one year low of $41.64 and a one year high of $56.25.

California Water Service Group (NYSE:CWT - Get Free Report) last announced its earnings results on Thursday, May 1st. The utilities provider reported $0.22 earnings per share for the quarter, topping 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 company had revenue of $203.97 million for the quarter, compared to analyst estimates of $194.80 million. During the same quarter last year, the company earned $1.21 earnings per share. The firm's quarterly revenue was down 24.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that California Water Service Group will post 3.15 EPS for the current year.

California Water Service Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 12th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.53%. The ex-dividend date is Monday, May 12th. California Water Service Group's payout ratio is 52.63%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CWT. Wells Fargo & Company increased their price objective on California Water Service Group from $54.00 to $59.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. StockNews.com raised shares of California Water Service Group from a "sell" rating to a "hold" rating in a research note on Friday, April 11th. Finally, Seaport Res Ptn upgraded California Water Service Group from a "hold" rating to a "strong-buy" rating in a report on Friday, April 11th.

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.