Tudor Investment Corp ET AL Purchases New Shares in California Water Service Group (NYSE:CWT)

Tudor Investment Corp ET AL purchased a new stake in California Water Service Group (NYSE:CWT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 29,639 shares of the utilities provider's stock, valued at approximately $1,344,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Parkworth Wealth Management Inc. purchased a new position in shares of California Water Service Group during the fourth quarter valued at approximately $50,000. Sterling Capital Management LLC lifted its stake in shares of California Water Service Group by 785.8% during the fourth 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 during the period. Federated Hermes Inc. lifted its stake in shares of California Water Service Group by 27.6% during the fourth quarter. Federated Hermes Inc. now owns 1,969 shares of the utilities provider's stock valued at $89,000 after buying an additional 426 shares during the period. Millstone Evans Group LLC purchased a new position in California Water Service Group during the fourth quarter worth approximately $102,000. Finally, GeoWealth Management LLC purchased a new position in California Water Service Group during the fourth quarter worth approximately $124,000. Hedge funds and other institutional investors own 82.78% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CWT. 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. Wells Fargo & Company increased their price target on shares of California Water Service Group from $54.00 to $59.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Finally, StockNews.com raised shares of California Water Service Group from a "sell" rating to a "hold" rating in a research note on Friday, April 11th.

California Water Service Group Trading Up 0.1%

Shares of California Water Service Group stock traded up $0.03 during trading hours on Friday, hitting $48.56. The company's stock had a trading volume of 216,406 shares, compared to its average volume of 334,453. The business has a fifty day moving average of $48.48 and a 200 day moving average of $47.62. California Water Service Group has a 1-year low of $41.64 and a 1-year high of $56.25. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $2.89 billion, a PE ratio of 14.03, a P/E/G ratio of 0.46 and a beta of 0.70.

California Water Service Group (NYSE:CWT - Get Free Report) last issued its earnings results on Thursday, May 1st. The utilities provider reported $0.22 EPS for the quarter, beating analysts' consensus estimates of $0.16 by $0.06. California Water Service Group had a net margin of 19.56% and a return on equity of 13.24%. The business had revenue of $203.97 million for the quarter, compared to the consensus estimate of $194.80 million. During the same quarter last year, the firm posted $1.21 EPS. The business's revenue for the quarter was down 24.7% compared to the same quarter last year. As a group, equities analysts forecast that California Water Service Group will post 3.15 EPS for the current year.

California Water Service Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 12th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Monday, May 12th. California Water Service Group's dividend payout ratio is presently 52.63%.

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.