Vanguard Group Inc. Has $318.32 Million Stock Holdings in California Water Service Group $CWT

Key Points

• Vanguard Group Inc. increased its stake in California Water Service Group (CWT) by 0.5% to 7,346,457 shares, representing about 12.33% of the company and valued at roughly $318.32 million at quarter-end.
• California Water Service Group reported quarterly EPS of $0.07, missing the $0.25 consensus while revenue rose 5.2% to $214.6 million; analysts project full-year EPS of 2.56.
• The company declared a quarterly dividend of $0.335 (annualized $1.34) with an ex-dividend date of May 11, implying a yield of about 3.1% and a payout ratio of 67%.

Vanguard Group Inc. boosted its holdings in shares of California Water Service Group (NYSE:CWT - Free Report) by 0.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,346,457 shares of the utilities provider's stock after buying an additional 34,155 shares during the quarter. Vanguard Group Inc. owned about 12.33% of California Water Service Group worth $318,322,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Farther Finance Advisors LLC increased its position in California Water Service Group by 3,318.8% during the third quarter. Farther Finance Advisors LLC now owns 547 shares of the utilities provider's stock worth $25,000 after buying an additional 531 shares during the last quarter. Danske Bank A S acquired a new position in California Water Service Group during the third quarter worth $28,000. EverSource Wealth Advisors LLC increased its position in California Water Service Group by 109.9% during the second quarter. EverSource Wealth Advisors LLC now owns 697 shares of the utilities provider's stock worth $32,000 after buying an additional 365 shares during the last quarter. Hantz Financial Services Inc. increased its position in California Water Service Group by 291.1% during the third quarter. Hantz Financial Services Inc. now owns 880 shares of the utilities provider's stock worth $40,000 after buying an additional 655 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new position in California Water Service Group during the third quarter worth $43,000. 82.78% of the stock is owned by institutional investors and hedge funds.

California Water Service Group Trading Up 1.4%

Shares of NYSE:CWT opened at $43.64 on Friday. The company has a market cap of $2.61 billion, a P/E ratio of 21.82, a P/E/G ratio of 1.58 and a beta of 0.51. The stock's 50-day moving average is $45.25 and its 200-day moving average is $45.15. California Water Service Group has a 52-week low of $41.29 and a 52-week high of $50.44. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.65 and a current ratio of 0.69.

California Water Service Group (NYSE:CWT - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $214.57 million during the quarter, compared to analyst estimates of $210.27 million. During the same period in the prior year, the business posted $0.22 earnings per share. The company's revenue for the quarter was up 5.2% compared to the same quarter last year. Equities research analysts predict that California Water Service Group will post 2.56 earnings per share for the current year.

California Water Service Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Monday, May 11th will be paid a $0.335 dividend. This represents a $1.34 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Monday, May 11th. California Water Service Group's dividend payout ratio (DPR) is presently 67.00%.

Insider Activity

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Weiss Ratings downgraded California Water Service Group from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, April 24th. Robert W. Baird set a $54.00 price target on California Water Service Group in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $54.50.

California Water Service Group 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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