Y Intercept Hong Kong Ltd Sells 6,609 Shares of California Water Service Group (NYSE:CWT)

Y Intercept Hong Kong Ltd lessened its holdings in California Water Service Group (NYSE:CWT - Free Report) by 48.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,945 shares of the utilities provider's stock after selling 6,609 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in California Water Service Group were worth $337,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Versant Capital Management Inc boosted its stake in shares of California Water Service Group by 751.3% during the first quarter. Versant Capital Management Inc now owns 681 shares of the utilities provider's stock worth $33,000 after buying an additional 601 shares during the period. Sterling Capital Management LLC lifted its position in California Water Service Group by 785.8% in the fourth quarter. Sterling Capital Management LLC now owns 1,435 shares of the utilities provider's stock valued at $65,000 after purchasing an additional 1,273 shares during the period. Mather Group LLC. acquired a new stake in California Water Service Group in the first quarter valued at about $74,000. Putney Financial Group LLC acquired a new stake in California Water Service Group in the fourth quarter valued at about $78,000. Finally, Federated Hermes Inc. lifted its position in California Water Service Group by 27.6% in the fourth quarter. Federated Hermes Inc. now owns 1,969 shares of the utilities provider's stock valued at $89,000 after purchasing an additional 426 shares during the period. Hedge funds and other institutional investors own 82.78% of the company's stock.

California Water Service Group Price Performance

Shares of NYSE:CWT traded up $1.04 during trading on Friday, reaching $46.51. The company had a trading volume of 627,834 shares, compared to its average volume of 324,867. The firm's fifty day moving average is $45.98 and its 200 day moving average is $46.66. The firm has a market capitalization of $2.77 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 2.24 and a beta of 0.66. California Water Service Group has a twelve month low of $41.64 and a twelve month high of $56.25. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.49 and a current ratio of 0.53.

California Water Service Group (NYSE:CWT - Get Free Report) last released its earnings results on Thursday, July 31st. The utilities provider reported $0.71 EPS for the quarter, beating the consensus estimate of $0.46 by $0.25. California Water Service Group had a net margin of 13.71% and a return on equity of 8.28%. The business had revenue of $264.95 million during the quarter, compared to analyst estimates of $238.20 million. During the same period in the prior year, the business earned $0.70 earnings per share. The business's quarterly revenue was up 8.5% on a year-over-year basis. On average, equities analysts forecast that California Water Service Group will post 3.15 EPS for the current year.

California Water Service Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Monday, August 11th will be given a $0.30 dividend. The ex-dividend date is Monday, August 11th. This represents a $1.20 dividend on an annualized basis and a yield of 2.6%. California Water Service Group's dividend payout ratio is presently 52.40%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CWT. Wall Street Zen raised shares of California Water Service Group from a "sell" rating to a "hold" rating in a research note on Saturday. Seaport Res Ptn raised shares of California Water Service Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 11th. Finally, Wells Fargo & Company dropped their price objective on shares of California Water Service Group from $59.00 to $55.00 and set an "overweight" rating for the company in a research note on Friday.

Insider Transactions at California Water Service Group

In other California Water Service Group news, Director Lester A. Snow sold 1,200 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $46.51, for a total value of $55,812.00. Following the completion of the sale, the director directly owned 26,349 shares of the company's stock, valued at $1,225,491.99. The trade was a 4.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.77% of the stock is currently owned by insiders.

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.