Entropy Technologies LP Acquires 3,887 Shares of California Water Service Group (NYSE:CWT)

Entropy Technologies LP lifted its holdings in California Water Service Group (NYSE:CWT) by 35.9% in the 4th quarter, Holdings Channel reports. The firm owned 14,728 shares of the utilities provider’s stock after buying an additional 3,887 shares during the quarter. Entropy Technologies LP’s holdings in California Water Service Group were worth $668,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Assenagon Asset Management S.A. lifted its position in shares of California Water Service Group by 79.7% in the third quarter. Assenagon Asset Management S.A. now owns 252,833 shares of the utilities provider’s stock worth $13,709,000 after buying an additional 112,118 shares during the last quarter. Barclays PLC raised its stake in shares of California Water Service Group by 135.8% in the 3rd quarter. Barclays PLC now owns 119,645 shares of the utilities provider’s stock valued at $6,486,000 after acquiring an additional 68,914 shares in the last quarter. Arjuna Capital acquired a new stake in California Water Service Group in the 3rd quarter worth approximately $3,724,000. JPMorgan Chase & Co. boosted its position in California Water Service Group by 55.7% during the third quarter. JPMorgan Chase & Co. now owns 161,661 shares of the utilities provider’s stock worth $8,765,000 after purchasing an additional 57,811 shares during the period. Finally, Millennium Management LLC acquired a new position in California Water Service Group during the second quarter valued at approximately $2,761,000. 82.78% of the stock is currently owned by institutional investors.

Insider Activity

In related news, VP Michael B. Luu sold 985 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $51.50, for a total transaction of $50,727.50. Following the transaction, the vice president now directly owns 20,354 shares in the company, valued at $1,048,231. The trade was a 4.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.73% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CWT. Wells Fargo & Company upgraded shares of California Water Service Group from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $56.00 to $52.00 in a research note on Tuesday, January 7th. Bank of America assumed 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 for the company. Finally, StockNews.com raised California Water Service Group from a “sell” rating to a “hold” rating in a research report on Saturday. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.25.

California Water Service Group Trading Up 4.7 %

Shares of CWT stock opened at $45.81 on Wednesday. The firm has a market capitalization of $2.72 billion, a P/E ratio of 13.24, a price-to-earnings-growth ratio of 0.45 and a beta of 0.52. California Water Service Group has a 1 year low of $41.64 and a 1 year high of $56.25. The firm’s fifty day simple moving average is $45.36 and its 200 day simple moving average is $50.25. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 0.64.

California Water Service Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Monday, February 10th will be given a dividend of $0.30 per share. The ex-dividend date is Monday, February 10th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.62%. This is a positive change from California Water Service Group’s previous quarterly dividend of $0.28. California Water Service Group’s dividend payout ratio is currently 32.37%.

About California Water Service Group

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.