Intech Investment Management LLC Buys 13,971 Shares of California Water Service Group (NYSE:CWT)

Intech Investment Management LLC boosted its stake in shares of California Water Service Group (NYSE:CWT) by 129.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,755 shares of the utilities provider’s stock after buying an additional 13,971 shares during the quarter. Intech Investment Management LLC’s holdings in California Water Service Group were worth $1,122,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CWT. Parkworth Wealth Management Inc. bought a new stake in California Water Service Group during the 4th quarter valued at about $50,000. Ieq Capital LLC bought a new stake in California Water Service Group during the 4th quarter valued at about $202,000. Asset Planning Inc bought a new stake in California Water Service Group during the 4th quarter valued at about $204,000. Boston Family Office LLC bought a new stake in California Water Service Group during the 3rd quarter valued at about $210,000. Finally, CIBC Asset Management Inc bought a new stake in California Water Service Group during the 3rd quarter valued at about $219,000. Institutional investors own 82.78% of the company’s stock.

California Water Service Group Stock Down 0.4 %

NYSE:CWT opened at $46.01 on Friday. The company has a market cap of $2.74 billion, a PE ratio of 13.30, a P/E/G ratio of 0.46 and a beta of 0.49. California Water Service Group has a twelve month low of $41.64 and a twelve month high of $56.25. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 0.64. The company’s 50 day moving average is $45.40 and its two-hundred day moving average is $48.79.

California Water Service Group (NYSE:CWT) last released its 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). The company had revenue of $222.20 million for the quarter, compared to analysts’ expectations of $216.37 million. California Water Service Group had a return on equity of 13.24% and a net margin of 19.56%. During the same period in the prior year, the firm posted $0.52 EPS. Analysts anticipate that California Water Service Group will post 3.15 EPS for the current year.

California Water Service Group Increases Dividend

The business also recently announced 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 represents a $1.20 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend was Monday, February 10th. This is an increase from California Water Service Group’s previous quarterly dividend of $0.28. California Water Service Group’s payout ratio is currently 36.70%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. StockNews.com upgraded shares of California Water Service Group from a “sell” rating to a “hold” rating in a report on Saturday, February 8th. Wells Fargo & Company raised shares of California Water Service Group from an “equal weight” rating to an “overweight” rating and cut their target price for the company from $56.00 to $52.00 in a research report on Tuesday, January 7th. Finally, Bank of America initiated coverage on shares of California Water Service Group in a research report on Wednesday, December 11th. They set a “buy” rating and a $57.00 target price on the stock. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $53.25.

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.