UBS Group AG Has $9.29 Million Stock Holdings in California Water Service Group $CWT

Key Points

• UBS Group AG reduced its stake in California Water Service Group by 10.8% in the fourth quarter, selling 25,833 shares and ending with 214,279 shares valued at about $9.29 million.
• Recent earnings missed expectations: the company reported $0.07 EPS versus the $0.25 consensus, though revenue came in slightly above forecasts at $214.57 million and rose 5.2% year over year.
• California Water Service Group pays a quarterly dividend of $0.335 per share, equal to a 3.2% annualized yield, while analysts currently rate the stock a “Moderate Buy” with an average price target of $54.50.

UBS Group AG trimmed its holdings in shares of California Water Service Group (NYSE:CWT - Free Report) by 10.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 214,279 shares of the utilities provider's stock after selling 25,833 shares during the period. UBS Group AG owned about 0.36% of California Water Service Group worth $9,285,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CWT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in California Water Service Group by 8.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,341 shares of the utilities provider's stock valued at $2,294,000 after purchasing an additional 3,810 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in California Water Service Group by 21.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 311,502 shares of the utilities provider's stock valued at $15,095,000 after purchasing an additional 54,277 shares during the last quarter. Jane Street Group LLC acquired a new stake in California Water Service Group in the 1st quarter valued at about $5,979,000. Focus Partners Wealth raised its holdings in California Water Service Group by 432.4% in the 1st quarter. Focus Partners Wealth now owns 27,161 shares of the utilities provider's stock valued at $1,316,000 after acquiring an additional 22,059 shares during the period. Finally, Intech Investment Management LLC raised its holdings in California Water Service Group by 16.4% in the 1st quarter. Intech Investment Management LLC now owns 28,810 shares of the utilities provider's stock valued at $1,396,000 after acquiring an additional 4,055 shares during the period. 82.78% of the stock is currently owned by institutional investors and hedge funds.

California Water Service Group Stock Performance

Shares of California Water Service Group stock opened at $42.50 on Friday. California Water Service Group has a fifty-two week low of $41.29 and a fifty-two week high of $50.44. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.69 and a quick ratio of 0.65. The firm has a market capitalization of $2.54 billion, a P/E ratio of 21.25, a P/E/G ratio of 1.56 and a beta of 0.51. The company's 50 day moving average price is $44.92 and its two-hundred day moving average price is $44.91.

California Water Service Group (NYSE:CWT - Get Free Report) last issued its earnings results on Thursday, April 30th. The utilities provider reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by ($0.18). California Water Service Group had a net margin of 11.77% and a return on equity of 7.06%. The company had revenue of $214.57 million during the quarter, compared to analyst estimates of $210.27 million. During the same quarter in the prior year, the business earned $0.22 EPS. The business's quarterly revenue was up 5.2% on a year-over-year basis. On average, equities analysts forecast that California Water Service Group will post 2.56 earnings per share for the current fiscal year.

California Water Service Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Monday, May 11th will be issued a dividend of $0.335 per share. The ex-dividend date of this dividend is Monday, May 11th. This represents a $1.34 annualized dividend and a dividend yield of 3.2%. California Water Service Group's dividend payout ratio (DPR) is 67.00%.

Insider Buying and Selling at California Water Service Group

In related news, VP Michael B. Luu sold 740 shares of the firm's stock in a transaction on Friday, March 20th. The stock was sold at an average price of $44.53, for a total transaction of $32,952.20. Following the sale, the vice president owned 23,655 shares of the company's stock, valued at $1,053,357.15. This trade represents a 3.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Michael S. Mares, Jr. sold 3,892 shares of the firm's stock in a transaction on Friday, March 20th. The shares were sold at an average price of $44.00, for a total value of $171,248.00. Following the sale, the vice president directly owned 8,525 shares in the company, valued at approximately $375,100. This trade represents a 31.34% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.78% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Robert W. Baird set a $54.00 price objective on California Water Service Group in a report on Friday, May 1st. Weiss Ratings raised California Water Service Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, May 8th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $54.50.

California Water Service Group Company Profile

California Water Service Group NYSE: CWT is a publicly traded holding company that provides regulated water utility services through its subsidiaries. The company delivers safe, reliable drinking water and wastewater management to residential, commercial, industrial and municipal customers across California, Hawaii and New Mexico. Its principal operating units include California Water Service, New Mexico Water Service and Hawaii Water Service, each responsible for end‐to‐end water supply operations—from source development and treatment to distribution and customer service.

Founded in 1926 as the California Water Service Company, the group has grown to become one of the largest investor‐owned water utilities in the United States by customer count.

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