Raymond James & Associates Sells 5,390 Shares of California Water Service Group (NYSE:CWT)

Raymond James & Associates reduced its position in shares of California Water Service Group (NYSE:CWT – Get Rating ) by 4.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 127,204 shares of the utilities provider’s stock after selling 5,390 shares during the quarter. Raymond James & Associates owned 0.23% of California Water Service Group worth $6,702,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CWT. Venture Visionary Partners LLC acquired a new position in California Water Service Group during the second quarter valued at about $40,000. EverSource Wealth Advisors LLC boosted its position in California Water Service Group by 731.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,064 shares of the utilities provider’s stock valued at $60,000 after purchasing an additional 936 shares during the last quarter. Whittier Trust Co . of Nevada Inc. acquired a new position in California Water Service Group during the second quarter valued at approximately $69,000. Captrust Financial Advisors raised its stake in California Water Service Group by 6.8% in the second quarter. Captrust Financial Advisors now owns 3,208 shares of the utilities provider’s stock valued at $178,000 after buying an additional 205 shares during the period. Finally, SeaCrest Wealth Management LLC bought a new stake in California Water Service Group in the second quarter worth about $184,000. 79.01% of the shares are currently owned by institutional investors.

Wall Street analysts predict growth

Several research firms have issued reports on CWT. StockNews.com upgraded California Water Service Group from a “sell” rating to a “hold” rating in a research note on Monday, October 31st. UBS Group initiated coverage on California Water Service Group in a research note on Wednesday, November 30th. They issued a “neutral” rating and a $67.00 price objective on the stock. Finally, Wells Fargo & Company boosted their price objective on California Water Service Group to $63.00 in a research note on Wednesday, December 14th.

California Water Service Group Award Performance

Shares of California Water Service Group stock opened at $62.39 on Friday. California Water Service Group has a 12-month low of $48.46 and a 12-month high of $66.12. The stock’s 50-day moving average is $62.47 and its 200-day moving average is $59.48. The company has a current ratio of 1.05, a quick ratio of 1.02, and a debt-to-equity ratio of 0.82. The company has a market capitalization of $3.42 billion, a price-to-earnings ratio of 42.16 and a beta of 0.45.

California Water Utilities Group (NYSE:CWT – Get Rating ) last posted its earnings results on Thursday, October 27th. The utilities provider reported $1.03 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.13). California Water Service Group had a net margin of 9.76% and a return on equity of 6.61%. The firm had revenue of $266.31 million during the quarter, compared to analyst estimates of $255.00 million. equities research analysts expect that California Water Service Group will post 1.6 EPS for the current year.

California Water Service Group announces dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 18th. Shareholders of record on Monday, November 7th were given a $0.25 dividend. This represents an annual dividend of $1.00 and a dividend yield of 1.60%. The ex-dividend date of this dividend was Friday, November 4th. California Water Service Group’s payout ratio is 67.57%.

Internal activity

In related news, Director Thomas M. Krummel sold 469 shares of the stock in a transaction that occurred on Tuesday, December 13th. The stock was sold at an average price of $64.89, for a total transaction of $30,433.41. Following the sale, the director now owns 28,636 shares of the company’s stock, valued at $1,858,190.04. The sale was disclosed in a filing with the Securities and Exchange Commission, which is available at this link. In other California Water Service Group news, Director Thomas M. Krummel sold 1,529 shares of the stock in a transaction dated Wednesday, November 30th. The shares were sold at an average price of $62.92, for a total transaction of $96,204.68. Following the sale, the director now directly owns 29,105 shares in the company, valued at $1,831,286.60. The sale was disclosed in a filing with the Securities and Exchange Commission, which is available at this link. Also, Director Thomas M. Krummel sold 469 shares of the stock in a transaction dated Tuesday, December 13th. The stock was sold at an average price of $64.89, for a total transaction of $30,433.41. Following the sale, the director now owns 28,636 shares in the company, valued at $1,858,190.04. Disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,498 shares of company stock valued at $156,572. 0.97% of shares are owned by insiders.

California Water Service Group Company Profile (Get Rating)

California Water Service Group, through its subsidiaries, provides water utility services 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.

See also

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