T. Rowe Price Investment Management Inc. Sells 358,601 Shares of California Water Service Group (NYSE:CWT)

T. Rowe Price Investment Management Inc. cut its stake in California Water Service Group (NYSE:CWT - Free Report) by 10.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,962,783 shares of the utilities provider's stock after selling 358,601 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 4.98% of California Water Service Group worth $134,303,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Parkworth Wealth Management Inc. acquired a new position in shares of California Water Service Group in the fourth quarter valued at $50,000. Sterling Capital Management LLC raised its stake in shares of California Water Service Group by 785.8% in the 4th quarter. Sterling Capital Management LLC now owns 1,435 shares of the utilities provider's stock valued at $65,000 after buying an additional 1,273 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of California Water Service Group by 27.6% during the 4th quarter. Federated Hermes Inc. now owns 1,969 shares of the utilities provider's stock worth $89,000 after acquiring an additional 426 shares during the period. Millstone Evans Group LLC acquired a new stake in shares of California Water Service Group during the 4th quarter valued at about $102,000. Finally, GeoWealth Management LLC bought a new stake in California Water Service Group in the fourth quarter valued at about $124,000. Institutional investors and hedge funds own 82.78% of the company's stock.

California Water Service Group Price Performance

Shares of CWT stock traded down $0.08 during trading hours on Wednesday, hitting $50.39. 84,102 shares of the company's stock were exchanged, compared to its average volume of 331,202. The stock's 50-day moving average is $47.95 and its 200-day moving average is $47.88. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.64 and a quick ratio of 0.60. California Water Service Group has a 52 week low of $41.64 and a 52 week high of $56.25. The stock has a market cap of $3.00 billion, a price-to-earnings ratio of 14.56, a price-to-earnings-growth ratio of 0.46 and a beta of 0.56.

California Water Service Group (NYSE:CWT - Get Free Report) last posted its quarterly earnings data 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 net margin of 19.56% and a return on equity of 13.24%. The company had revenue of $222.20 million during the quarter, compared to analyst estimates of $216.37 million. During the same quarter in the previous year, the business posted $0.52 EPS. As a group, research analysts forecast that California Water Service Group will post 3.15 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. StockNews.com raised California Water Service Group from a "sell" rating to a "hold" rating in a report on Friday, April 11th. Seaport Res Ptn raised shares of California Water Service Group from a "hold" rating to a "strong-buy" rating in a report on Friday, April 11th. Finally, Wells Fargo & Company upgraded shares of California Water Service Group from an "equal weight" rating to an "overweight" rating and dropped their target price for the stock from $56.00 to $52.00 in a research report on Tuesday, January 7th.

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.