Thematics Asset Management Has $10.11 Million Position in California Water Service Group (NYSE:CWT)

Thematics Asset Management boosted its position in shares of California Water Service Group (NYSE:CWT) by 8.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 186,470 shares of the utilities provider’s stock after buying an additional 14,000 shares during the quarter. Thematics Asset Management’s holdings in California Water Service Group were worth $10,110,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. bought a new stake in shares of California Water Service Group during the second quarter valued at approximately $6,823,000. Tidal Investments LLC acquired a new position in California Water Service Group in the first quarter valued at about $535,000. Quest Partners LLC grew its position in California Water Service Group by 297.1% during the 3rd quarter. Quest Partners LLC now owns 22,676 shares of the utilities provider’s stock worth $1,229,000 after acquiring an additional 16,966 shares during the last quarter. Vanguard Group Inc. grew its position in California Water Service Group by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 7,198,981 shares of the utilities provider’s stock worth $334,609,000 after acquiring an additional 232,344 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in California Water Service Group in the 2nd quarter valued at $568,000. Institutional investors and hedge funds own 82.78% of the company’s stock.

California Water Service Group Trading Down 1.2 %

California Water Service Group stock traded down $0.61 during midday trading on Tuesday, hitting $51.37. 32,741 shares of the stock were exchanged, compared to its average volume of 323,106. California Water Service Group has a 52 week low of $43.50 and a 52 week 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 stock has a market capitalization of $3.06 billion, a PE ratio of 15.03 and a beta of 0.49. The company has a fifty day simple moving average of $52.36 and a two-hundred day simple moving average of $51.87.

California Water Service Group (NYSE:CWT) last released its quarterly earnings data on Thursday, October 31st. The utilities provider reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.02). The firm had revenue of $299.60 million during the quarter, compared to the consensus estimate of $289.55 million. California Water Service Group had a net margin of 19.56% and a return on equity of 13.24%. California Water Service Group’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 EPS. Equities research analysts anticipate that California Water Service Group will post 3.29 EPS for the current fiscal year.

California Water Service Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Tuesday, November 12th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend was Tuesday, November 12th. California Water Service Group’s dividend payout ratio is currently 32.37%.

Insider Activity

In related news, Director Thomas M. Krummel sold 555 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $55.09, for a total transaction of $30,574.95. Following the completion of the transaction, the director now directly owns 21,951 shares in the company, valued at approximately $1,209,280.59. This trade represents a 2.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael B. Luu sold 985 shares of California Water Service Group stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $51.50, for a total value of $50,727.50. Following the completion of the sale, the vice president now directly owns 20,354 shares in the company, valued at approximately $1,048,231. This represents a 4.62 % decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company upgraded shares of California Water Service Group from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $50.00 to $57.00 in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $53.67.

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.