Y Intercept Hong Kong Ltd Decreases Holdings in California Water Service Group (NYSE:CWT)

Y Intercept Hong Kong Ltd lessened its stake in shares of California Water Service Group (NYSE:CWT - Free Report) by 48.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC lifted its stake in shares of California Water Service Group by 3.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 12,228 shares of the utilities provider's stock valued at $554,000 after purchasing an additional 382 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in California Water Service Group during the 4th quarter worth approximately $548,000. LPL Financial LLC increased its holdings in shares of California Water Service Group by 10.9% in the 4th quarter. LPL Financial LLC now owns 21,540 shares of the utilities provider's stock valued at $976,000 after acquiring an additional 2,116 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of California Water Service Group by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 7,514,709 shares of the utilities provider's stock valued at $340,642,000 after acquiring an additional 158,295 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in California Water Service Group by 91.0% during the 4th quarter. JPMorgan Chase & Co. now owns 308,704 shares of the utilities provider's stock worth $13,994,000 after buying an additional 147,043 shares during the last quarter. 82.78% of the stock is owned by institutional investors and hedge funds.

California Water Service Group Stock Performance

California Water Service Group stock traded up $1.04 during trading hours on Friday, hitting $46.51. The stock had a trading volume of 627,824 shares, compared to its average volume of 374,402. California Water Service Group has a fifty-two week low of $41.64 and a fifty-two week high of $56.25. The company has a quick ratio of 0.49, a current ratio of 0.53 and a debt-to-equity ratio of 0.68. The company has a 50-day moving average of $45.99 and a two-hundred day moving average of $46.64. The company has a market cap of $2.77 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 2.21 and a beta of 0.64.

California Water Service Group (NYSE:CWT - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.71 EPS for the quarter, beating analysts' consensus estimates of $0.46 by $0.25. California Water Service Group had a return on equity of 8.32% and a net margin of 13.84%. The firm had revenue of $264.95 million for the quarter, compared to analyst estimates of $238.20 million. During the same period last year, the company earned $0.70 EPS. The business's quarterly revenue was up 8.5% compared to the same quarter last year. On average, equities research analysts anticipate that California Water Service Group will post 3.15 EPS for the current fiscal year.

California Water Service Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Monday, August 11th will be issued a dividend of $0.30 per share. 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 (DPR) is presently 52.63%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CWT shares. Seaport Res Ptn upgraded California Water Service Group from a "hold" rating to a "strong-buy" rating in a report on Friday, April 11th. Wells Fargo & Company dropped their price target on California Water Service Group from $59.00 to $55.00 and set an "overweight" rating on the stock in a research report on Friday. Finally, Wall Street Zen lowered California Water Service Group from a "hold" rating to a "sell" rating in a research report on Saturday, June 21st.

Insider Buying and Selling

In related news, Director Lester A. Snow sold 1,200 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was 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 in the company, valued at approximately $1,225,491.99. The trade was a 4.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.77% of the company's stock.

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.