Maple Capital Management Inc. Makes New $302,000 Investment in California Water Service Group (NYSE:CWT)

Maple Capital Management Inc. 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 disclosure with the Securities & Exchange Commission. The firm purchased 6,667 shares of the utilities provider’s stock, valued at approximately $302,000.

A number of other large investors also recently bought and sold shares of CWT. Blue Trust Inc. raised its stake in California Water Service Group by 255.6% during the third quarter. Blue Trust Inc. now owns 505 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 363 shares during the period. Ieq Capital LLC purchased a new position in shares of California Water Service Group in the 4th quarter valued at $202,000. Asset Planning Inc purchased a new position in shares of California Water Service Group in the 4th quarter valued at $204,000. Boston Family Office LLC purchased a new position in shares of California Water Service Group in the 3rd quarter valued at $210,000. Finally, CIBC Asset Management Inc purchased a new position in shares of California Water Service Group in the 3rd quarter valued at $219,000. Hedge funds and other institutional investors own 82.78% of the company’s stock.

California Water Service Group Price Performance

Shares of CWT stock opened at $45.45 on Friday. The firm has a market cap of $2.70 billion, a P/E ratio of 13.13, a P/E/G ratio of 0.46 and a beta of 0.52. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.64 and a quick ratio of 0.60. California Water Service Group has a 1-year low of $41.64 and a 1-year high of $56.25. The firm has a fifty day moving average of $44.75 and a two-hundred day moving average of $49.60.

California Water Service Group (NYSE:CWT) last announced its quarterly earnings data on Thursday, February 27th. The utilities provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.05). California Water Service Group had a net margin of 19.56% and a return on equity of 13.24%. The business had revenue of $222.20 million for the quarter, compared to the consensus estimate of $216.37 million. During the same period in the prior year, the company earned $0.52 EPS. As a group, research analysts anticipate that California Water Service Group will post 3.15 earnings per share for the current fiscal year.

California Water Service Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Monday, February 10th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.64%. 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 dividend payout ratio is currently 34.68%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. StockNews.com raised shares of California Water Service Group from a “sell” rating to a “hold” rating in a research note 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 note on Tuesday, January 7th. Finally, Bank of America assumed coverage on shares of California Water Service Group in a research note on Wednesday, December 11th. They issued 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 issued a buy rating to the stock. According to data from MarketBeat, California Water Service Group currently has an average rating of “Moderate Buy” and a consensus price target of $53.25.

California Water Service Group 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.