Magnus Financial Group LLC purchased a new position in shares of California Water Service Group (NYSE:CWT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,679 shares of the utilities provider’s stock, valued at approximately $223,000.

Several other hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp lifted its holdings in shares of California Water Service Group by 1.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 678,647 shares of the utilities provider’s stock worth $26,434,000 after acquiring an additional 9,582 shares during the period. Bank of Montreal Can lifted its holdings in shares of California Water Service Group by 22.1% during the 3rd quarter. Bank of Montreal Can now owns 20,582 shares of the utilities provider’s stock worth $884,000 after acquiring an additional 3,723 shares during the period. First Trust Advisors LP lifted its holdings in shares of California Water Service Group by 9.3% during the 3rd quarter. First Trust Advisors LP now owns 202,094 shares of the utilities provider’s stock worth $8,670,000 after acquiring an additional 17,225 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of California Water Service Group by 29.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 37,553 shares of the utilities provider’s stock worth $1,609,000 after acquiring an additional 8,636 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in shares of California Water Service Group by 3.1% during the 3rd quarter. Wells Fargo & Company MN now owns 121,413 shares of the utilities provider’s stock worth $5,208,000 after acquiring an additional 3,595 shares during the period. Institutional investors and hedge funds own 73.15% of the company’s stock.

Shares of NYSE:CWT opened at $53.69 on Friday. The company has a market capitalization of $2.59 billion, a P/E ratio of 39.48, a P/E/G ratio of 5.50 and a beta of 0.40. The company has a quick ratio of 0.57, a current ratio of 0.59 and a debt-to-equity ratio of 0.97. California Water Service Group has a one year low of $35.60 and a one year high of $54.53.

California Water Service Group (NYSE:CWT) last issued its quarterly earnings data on Thursday, February 28th. The utilities provider reported $0.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.04. The business had revenue of $167.42 million during the quarter, compared to the consensus estimate of $163.45 million. California Water Service Group had a net margin of 8.71% and a return on equity of 8.58%. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.31 EPS. On average, research analysts forecast that California Water Service Group will post 1.4 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 22nd. Investors of record on Monday, February 11th were paid a $0.1975 dividend. This is an increase from California Water Service Group’s previous quarterly dividend of $0.19. The ex-dividend date was Friday, February 8th. This represents a $0.79 annualized dividend and a yield of 1.47%. California Water Service Group’s dividend payout ratio is presently 58.09%.

In related news, Director Lester A. Snow sold 1,000 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $53.69, for a total value of $53,690.00. Following the completion of the transaction, the director now owns 18,195 shares of the company’s stock, valued at approximately $976,889.55. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last three months, insiders sold 2,199 shares of company stock valued at $115,720. 1.00% of the stock is owned by insiders.

CWT has been the subject of a number of recent analyst reports. Robert W. Baird raised shares of California Water Service Group from a “neutral” rating to an “outperform” rating and set a $50.00 price target for the company in a report on Thursday, December 6th. Zacks Investment Research raised shares of California Water Service Group from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a report on Thursday, January 3rd. ValuEngine raised shares of California Water Service Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 12th. Finally, Wells Fargo & Co upped their price target on shares of California Water Service Group from $45.00 to $49.00 and gave the stock a “market perform” rating in a report on Monday, March 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $45.20.

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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, and Hawaii. It 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.

Read More: Net Margin

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Institutional Ownership by Quarter for California Water Service Group (NYSE:CWT)

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