Vontobel Holding Ltd. Decreases Stake in California Water Service Group (NYSE:CWT)

Vontobel Holding Ltd. decreased its stake in shares of California Water Service Group (NYSE:CWT - Free Report) by 45.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,803 shares of the utilities provider's stock after selling 21,352 shares during the quarter. Vontobel Holding Ltd.'s holdings in California Water Service Group were worth $1,250,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Bank of New York Mellon Corp increased its stake in shares of California Water Service Group by 21.2% in the fourth quarter. Bank of New York Mellon Corp now owns 634,179 shares of the utilities provider's stock worth $28,747,000 after acquiring an additional 110,962 shares during the period. US Bancorp DE increased its stake in shares of California Water Service Group by 9.0% in the fourth quarter. US Bancorp DE now owns 5,816 shares of the utilities provider's stock worth $264,000 after acquiring an additional 479 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of California Water Service Group by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 722,163 shares of the utilities provider's stock worth $32,736,000 after acquiring an additional 11,205 shares during the period. Aigen Investment Management LP increased its stake in shares of California Water Service Group by 18.1% in the fourth quarter. Aigen Investment Management LP now owns 4,954 shares of the utilities provider's stock worth $225,000 after acquiring an additional 760 shares during the period. Finally, Arizona State Retirement System increased its stake in shares of California Water Service Group by 2.6% in the fourth quarter. Arizona State Retirement System now owns 17,068 shares of the utilities provider's stock worth $774,000 after acquiring an additional 438 shares during the period. Institutional investors and hedge funds own 82.78% of the company's stock.

California Water Service Group Stock Performance

CWT stock traded down $0.06 during midday trading on Tuesday, hitting $45.48. 235,907 shares of the stock traded hands, compared to its average volume of 337,811. The firm has a market cap of $2.71 billion, a P/E ratio of 19.95, a PEG ratio of 2.24 and a beta of 0.64. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.53 and a quick ratio of 0.49. The stock's fifty day simple moving average is $46.86 and its 200-day simple moving average is $46.55. California Water Service Group has a 1-year low of $41.64 and a 1-year high of $56.25.

California Water Service Group (NYSE:CWT - Get Free Report) last posted 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 the consensus estimate of $194.80 million. California Water Service Group had a net margin of 13.84% and a return on equity of 8.32%. The company's revenue was down 24.7% compared to the same quarter last year. During the same period last year, the firm posted $1.21 earnings per share. On average, analysts expect that California Water Service Group will post 3.15 earnings per share for the current year.

California Water Service Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 12th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend was Monday, May 12th. California Water Service Group's payout ratio is 52.63%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Wells Fargo & Company raised their price target on shares of California Water Service Group from $54.00 to $59.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Wall Street Zen lowered shares of California Water Service Group from a "hold" rating to a "sell" rating in a research report on Saturday, June 21st. Finally, Seaport Res Ptn upgraded shares of California Water Service Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th.

Insider Transactions at California Water Service Group

In other California Water Service Group news, Director Lester A. Snow sold 1,200 shares of the stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $46.51, for a total transaction of $55,812.00. Following the transaction, the director directly owned 26,349 shares of the company's stock, valued at $1,225,491.99. This trade represents a 4.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.73% of the stock is currently owned by insiders.

About California Water Service Group

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.