Tidal Investments LLC Sells 5,673 Shares of California Water Service Group (NYSE:CWT)

Tidal Investments LLC lessened its holdings in shares of California Water Service Group (NYSE:CWT - Free Report) by 29.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,900 shares of the utilities provider's stock after selling 5,673 shares during the period. Tidal Investments LLC's holdings in California Water Service Group were worth $630,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CWT. Barclays PLC grew its holdings in shares of California Water Service Group by 135.8% during the 3rd quarter. Barclays PLC now owns 119,645 shares of the utilities provider's stock worth $6,486,000 after acquiring an additional 68,914 shares during the period. SG Americas Securities LLC grew its holdings in shares of California Water Service Group by 205.5% during the 4th quarter. SG Americas Securities LLC now owns 31,205 shares of the utilities provider's stock worth $1,415,000 after acquiring an additional 20,991 shares during the period. Exchange Traded Concepts LLC grew its holdings in shares of California Water Service Group by 66.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 24,736 shares of the utilities provider's stock worth $1,121,000 after acquiring an additional 9,894 shares during the period. Kingswood Wealth Advisors LLC purchased a new position in shares of California Water Service Group during the 4th quarter worth approximately $314,000. Finally, Jennison Associates LLC purchased a new position in shares of California Water Service Group during the 4th quarter worth approximately $1,252,000. Hedge funds and other institutional investors own 82.78% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CWT shares. 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. Wall Street Zen cut California Water Service Group from a "hold" rating to a "sell" rating in a research report on Saturday, May 24th. Finally, Wells Fargo & Company boosted their price target on California Water Service Group from $54.00 to $59.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd.

California Water Service Group Stock Up 0.8%

Shares of CWT traded up $0.38 during mid-day trading on Friday, reaching $47.25. The company had a trading volume of 398,940 shares, compared to its average volume of 332,403. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.60 and a current ratio of 0.64. The firm has a 50-day moving average price of $48.50 and a 200 day moving average price of $47.21. California Water Service Group has a 52 week low of $41.64 and a 52 week high of $56.25. The company has a market capitalization of $2.81 billion, a price-to-earnings ratio of 13.66, a price-to-earnings-growth ratio of 0.46 and a beta of 0.70.

California Water Service Group (NYSE:CWT - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The utilities provider reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.06. The business had revenue of $203.97 million for the quarter, compared to analysts' expectations of $194.80 million. California Water Service Group had a return on equity of 13.24% and a net margin of 19.56%. The firm's quarterly revenue was down 24.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.21 EPS. On average, sell-side analysts forecast that California Water Service Group will post 3.15 EPS for the current year.

California Water Service Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 12th were given a $0.30 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.20 annualized dividend and a yield of 2.54%. California Water Service Group's dividend payout ratio (DPR) is presently 52.63%.

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.