TD Asset Management Inc Purchases 7,692 Shares of California Water Service Group $CWT

Key Points

• TD Asset Management Inc increased its holdings in California Water Service Group by 17.4%, acquiring an additional 7,692 shares, bringing its total ownership to approximately 51,888 shares valued at $2.36 million.
• Analysts have given California Water Service Group an average rating of "Buy." One analyst rates it as a Strong Buy, while its current price target is set at $56.00.
• The company recently announced a quarterly dividend of $0.30 per share, resulting in an annualized dividend yield of 2.4%.

TD Asset Management Inc increased its position in shares of California Water Service Group (NYSE:CWT - Free Report) by 17.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,888 shares of the utilities provider's stock after acquiring an additional 7,692 shares during the quarter. TD Asset Management Inc owned about 0.09% of California Water Service Group worth $2,360,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Banque Cantonale Vaudoise bought a new position in shares of California Water Service Group during the 1st quarter worth approximately $34,000. Signaturefd LLC raised its stake in shares of California Water Service Group by 130.1% during the 2nd quarter. Signaturefd LLC now owns 1,397 shares of the utilities provider's stock worth $64,000 after acquiring an additional 790 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of California Water Service Group by 76.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,514 shares of the utilities provider's stock worth $69,000 after acquiring an additional 658 shares in the last quarter. Mather Group LLC. bought a new position in shares of California Water Service Group during the 1st quarter worth approximately $74,000. Finally, SouthState Corp bought a new position in shares of California Water Service Group during the 1st quarter worth approximately $136,000. Institutional investors own 82.78% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on CWT shares. Weiss Ratings reiterated a "hold (c)" rating on shares of California Water Service Group in a research note on Wednesday, October 8th. Wells Fargo & Company dropped their target price on shares of California Water Service Group from $59.00 to $55.00 and set an "overweight" rating on the stock in a research report on Friday, August 1st. Finally, Wall Street Zen raised shares of California Water Service Group from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $56.00.

California Water Service Group Stock Up 0.0%

NYSE:CWT opened at $49.67 on Wednesday. The company has a market cap of $2.96 billion, a PE ratio of 21.69, a P/E/G ratio of 2.37 and a beta of 0.68. California Water Service Group has a twelve month low of $41.64 and a twelve month high of $53.28. The company has a current ratio of 0.53, a quick ratio of 0.50 and a debt-to-equity ratio of 0.67. The company's 50 day moving average is $46.46 and its two-hundred day moving average is $46.91.

California Water Service Group (NYSE:CWT - Get Free Report) last released its earnings results on Thursday, July 31st. The utilities provider reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.25. The company had revenue of $264.95 million for the quarter, compared to the consensus estimate of $238.20 million. California Water Service Group had a net margin of 13.71% and a return on equity of 8.28%. California Water Service Group's revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.70 EPS. Analysts anticipate that California Water Service Group will post 3.15 EPS for the current year.

California Water Service Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Monday, August 11th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Monday, August 11th. California Water Service Group's dividend payout ratio is 52.40%.

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.

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