Charles Schwab Investment Management Inc. Has $31.83 Million Stake in California Water Service Group (NYSE:CWT)

Charles Schwab Investment Management Inc. boosted its holdings in California Water Service Group (NYSE:CWT - Free Report) by 5.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 613,581 shares of the utilities provider's stock after buying an additional 32,053 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.06% of California Water Service Group worth $31,826,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of CWT. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of California Water Service Group by 14.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,854 shares of the utilities provider's stock valued at $1,507,000 after purchasing an additional 3,929 shares during the period. Daiwa Securities Group Inc. grew its stake in shares of California Water Service Group by 124.2% during the 3rd quarter. Daiwa Securities Group Inc. now owns 4,181 shares of the utilities provider's stock valued at $198,000 after purchasing an additional 2,316 shares during the period. Signaturefd LLC grew its stake in shares of California Water Service Group by 64.4% during the 3rd quarter. Signaturefd LLC now owns 1,065 shares of the utilities provider's stock valued at $50,000 after purchasing an additional 417 shares during the period. Empower Advisory Group LLC grew its stake in shares of California Water Service Group by 3.5% during the 3rd quarter. Empower Advisory Group LLC now owns 352,969 shares of the utilities provider's stock valued at $16,699,000 after acquiring an additional 11,870 shares during the period. Finally, Victory Capital Management Inc. grew its stake in shares of California Water Service Group by 764.6% during the 3rd quarter. Victory Capital Management Inc. now owns 131,380 shares of the utilities provider's stock valued at $6,216,000 after acquiring an additional 116,185 shares during the period. Hedge funds and other institutional investors own 82.78% of the company's stock.

Insider Transactions at California Water Service Group

In other news, Director Thomas M. Krummel sold 555 shares of the company's stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $53.26, for a total transaction of $29,559.30. Following the sale, the director now directly owns 23,318 shares of the company's stock, valued at approximately $1,241,916.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Thomas M. Krummel sold 555 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $53.26, for a total transaction of $29,559.30. Following the sale, the director now owns 23,318 shares in the company, valued at approximately $1,241,916.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas M. Krummel sold 2,220 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $50.00, for a total value of $111,000.00. Following the sale, the director now owns 23,873 shares in the company, valued at approximately $1,193,650. The disclosure for this sale can be found here. Insiders own 0.73% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. TheStreet downgraded California Water Service Group from a "b-" rating to a "c+" rating in a research note on Wednesday, February 14th. UBS Group upgraded California Water Service Group from a "sell" rating to a "neutral" rating and set a $49.00 price objective for the company in a research note on Thursday, April 4th. StockNews.com upgraded California Water Service Group from a "sell" rating to a "hold" rating in a research note on Friday, April 26th. Finally, Robert W. Baird boosted their price objective on California Water Service Group from $52.00 to $55.00 and gave the company an "outperform" rating in a research note on Friday, April 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, California Water Service Group presently has a consensus rating of "Hold" and an average price target of $54.25.

California Water Service Group Price Performance

CWT stock traded down $0.81 during midday trading on Wednesday, hitting $52.49. The company's stock had a trading volume of 381,002 shares, compared to its average volume of 365,710. California Water Service Group has a 12 month low of $43.50 and a 12 month high of $58.30. The company has a quick ratio of 0.52, a current ratio of 0.56 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of 21.31 and a beta of 0.47. The company has a 50 day moving average of $47.91 and a two-hundred day moving average of $48.68.

California Water Service Group (NYSE:CWT - Get Free Report) last issued its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $1.00. The business had revenue of $270.75 million for the quarter, compared to analysts' expectations of $183.85 million. California Water Service Group had a return on equity of 10.09% and a net margin of 15.42%. The company's revenue for the quarter was up 106.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.40) EPS. On average, analysts expect that California Water Service Group will post 3.15 EPS for the current year.

California Water Service Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Monday, May 6th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $1.12 annualized dividend and a dividend yield of 2.13%. California Water Service Group's dividend payout ratio (DPR) is 44.80%.

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.