First Trust Advisors LP Raises Holdings in California Water Service Group (NYSE:CWT)

First Trust Advisors LP lifted its position in California Water Service Group (NYSE:CWT - Free Report) by 4.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,689,977 shares of the utilities provider's stock after acquiring an additional 79,658 shares during the quarter. First Trust Advisors LP owned approximately 2.84% of California Water Service Group worth $76,607,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CWT. GeoWealth Management LLC acquired a new position in California Water Service Group in the 4th quarter valued at $124,000. CANADA LIFE ASSURANCE Co raised its holdings in shares of California Water Service Group by 1.4% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 129,765 shares of the utilities provider's stock worth $5,876,000 after buying an additional 1,731 shares in the last quarter. Mariner LLC raised its holdings in shares of California Water Service Group by 36.1% in the 4th quarter. Mariner LLC now owns 31,276 shares of the utilities provider's stock worth $1,418,000 after buying an additional 8,299 shares in the last quarter. Barclays PLC grew its position in California Water Service Group by 10.7% during the 4th quarter. Barclays PLC now owns 132,405 shares of the utilities provider's stock worth $6,001,000 after acquiring an additional 12,760 shares during the last quarter. Finally, Summit Investment Advisors Inc. grew its position in California Water Service Group by 8.0% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,236 shares of the utilities provider's stock worth $283,000 after acquiring an additional 464 shares during the last quarter. Hedge funds and other institutional investors own 82.78% of the company's stock.

California Water Service Group Trading Down 0.4 %

Shares of CWT stock traded down $0.22 during mid-day trading on Friday, reaching $49.83. 315,570 shares of the stock traded hands, compared to its average volume of 332,106. The stock's fifty day simple moving average is $47.76 and its two-hundred day simple moving average is $47.88. California Water Service Group has a 1-year low of $41.64 and a 1-year high of $56.25. The company has a market cap of $2.96 billion, a price-to-earnings ratio of 14.40, a price-to-earnings-growth ratio of 0.46 and a beta of 0.56. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 0.64.

California Water Service Group (NYSE:CWT - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The utilities provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.05). California Water Service Group had a return on equity of 13.24% and a net margin of 19.56%. The firm had revenue of $222.20 million for the quarter, compared to analysts' expectations of $216.37 million. During the same quarter last year, the firm posted $0.52 earnings per share. On average, research analysts anticipate that California Water Service Group will post 3.15 EPS for the current fiscal year.

California Water Service Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Monday, February 10th were given a dividend of $0.30 per share. This is an increase from California Water Service Group's previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.20 dividend on an annualized basis and a yield of 2.41%. California Water Service Group's dividend payout ratio (DPR) is presently 36.70%.

Wall Street Analysts Forecast Growth

CWT has been the topic of several recent research reports. Wells Fargo & Company upgraded California Water Service Group from an "equal weight" rating to an "overweight" rating and reduced their price target for the stock from $56.00 to $52.00 in a research report on Tuesday, January 7th. Seaport Res Ptn raised California Water Service Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. Finally, StockNews.com raised California Water Service Group from a "sell" rating to a "hold" rating in a report on Friday, April 11th.

California Water Service Group Company 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.