Rhumbline Advisers Has $9.10 Million Stock Position in California Water Service Group (NYSE:CWT)

Rhumbline Advisers lowered its stake in shares of California Water Service Group (NYSE:CWT - Free Report) by 4.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 187,820 shares of the utilities provider's stock after selling 8,056 shares during the period. Rhumbline Advisers owned about 0.32% of California Water Service Group worth $9,102,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of CWT. Versant Capital Management Inc raised its holdings in shares of 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 valued at $33,000 after buying an additional 601 shares during the period. Parkworth Wealth Management Inc. purchased a new position in California Water Service Group in the fourth quarter valued at $50,000. Sterling Capital Management LLC lifted its stake in 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 worth $65,000 after purchasing an additional 1,273 shares during the last quarter. Putney Financial Group LLC acquired a new stake in California Water Service Group during the 4th quarter worth $78,000. Finally, Federated Hermes Inc. lifted its holdings in shares of California Water Service Group by 27.6% in the 4th quarter. Federated Hermes Inc. now owns 1,969 shares of the utilities provider's stock valued at $89,000 after purchasing an additional 426 shares during the last quarter. Institutional investors and hedge funds own 82.78% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CWT shares. Wall Street Zen raised shares of California Water Service Group from a "sell" rating to a "hold" rating in a report on Friday, June 6th. Seaport Res Ptn raised California Water Service Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. Finally, Wells Fargo & Company boosted their price objective on shares of 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.

California Water Service Group Stock Performance

Shares of NYSE CWT traded down $0.34 during trading on Thursday, reaching $46.37. The stock had a trading volume of 63,689 shares, compared to its average volume of 328,478. The stock has a market cap of $2.76 billion, a PE ratio of 13.40, a P/E/G ratio of 0.46 and a beta of 0.66. California Water Service Group has a one year low of $41.64 and a one year high of $56.25. The firm's 50 day moving average price is $48.22 and its two-hundred day moving average price is $46.95. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.60 and a current ratio of 0.64.

California Water Service Group (NYSE:CWT - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The utilities provider reported $0.22 EPS 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 firm had revenue of $203.97 million during the quarter, compared to the consensus estimate of $194.80 million. During the same period in the prior year, the business earned $1.21 EPS. The firm's revenue was down 24.7% on a year-over-year basis. On average, research 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 firm also recently disclosed 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. The ex-dividend date was Monday, May 12th. This represents a $1.20 annualized dividend and a dividend yield of 2.59%. California Water Service Group's dividend payout ratio (DPR) is 52.63%.

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.