Arjuna Capital Makes New Investment in California Water Service Group (NYSE:CWT)

Arjuna Capital purchased a new position in shares of California Water Service Group (NYSE:CWT) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 68,676 shares of the utilities provider’s stock, valued at approximately $3,724,000. Arjuna Capital owned approximately 0.12% of California Water Service Group at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Arizona State Retirement System boosted its position in California Water Service Group by 1.8% during the second quarter. Arizona State Retirement System now owns 16,147 shares of the utilities provider’s stock worth $783,000 after purchasing an additional 287 shares in the last quarter. Quadrature Capital Ltd boosted its position in California Water Service Group by 4.6% during the first quarter. Quadrature Capital Ltd now owns 6,661 shares of the utilities provider’s stock worth $309,000 after purchasing an additional 295 shares in the last quarter. Creative Financial Designs Inc. ADV raised its holdings in shares of California Water Service Group by 2.7% during the third quarter. Creative Financial Designs Inc. ADV now owns 12,041 shares of the utilities provider’s stock valued at $653,000 after acquiring an additional 316 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of California Water Service Group by 255.6% during the third quarter. Blue Trust Inc. now owns 505 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 363 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of California Water Service Group by 50.2% during the third quarter. GAMMA Investing LLC now owns 1,236 shares of the utilities provider’s stock valued at $67,000 after acquiring an additional 413 shares during the last quarter. Hedge funds and other institutional investors own 82.78% of the company’s stock.

California Water Service Group Price Performance

Shares of California Water Service Group stock traded up $0.23 during mid-day trading on Wednesday, reaching $51.06. 5,654 shares of the stock traded hands, compared to its average volume of 324,808. California Water Service Group has a fifty-two week low of $43.50 and a fifty-two 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 $3.04 billion, a PE ratio of 14.70 and a beta of 0.49. The business has a 50-day moving average of $52.98 and a 200 day moving average of $51.83.

California Water Service Group (NYSE:CWT) last posted its quarterly earnings results on Thursday, October 31st. The utilities provider reported $1.03 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.02). California Water Service Group had a net margin of 19.56% and a return on equity of 13.24%. The company had revenue of $299.60 million during the quarter, compared to analyst estimates of $289.55 million. During the same period in the prior year, the business posted $0.60 EPS. California Water Service Group’s revenue for the quarter was up 17.5% compared to the same quarter last year. On average, analysts predict that California Water Service Group will post 3.31 EPS for the current year.

California Water Service Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Tuesday, November 12th will be issued a $0.28 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $1.12 annualized dividend and a dividend yield of 2.19%. California Water Service Group’s dividend payout ratio is presently 32.37%.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company raised California Water Service Group from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $50.00 to $57.00 in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, California Water Service Group has a consensus rating of “Hold” and a consensus price target of $53.67.

Insider Activity at California Water Service Group

In related news, Director Thomas M. Krummel sold 555 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $55.09, for a total value of $30,574.95. Following the completion of the sale, the director now owns 21,951 shares of the company’s stock, valued at approximately $1,209,280.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.73% of the company’s stock.

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.