First National Corp MA ADV lowered its holdings in California Water Service Group (NYSE:CWT – Get Rating) by 12.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,241 shares of the utilities provider's stock after selling 6,399 shares during the period. First National Corp MA ADV owned 0.09% of California Water Service Group worth $2,569,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in California Water Service Group by 0.9% in the first quarter. Vanguard Group Inc. now owns 6,297,891 shares of the utilities provider's stock valued at $373,339,000 after acquiring an additional 55,862 shares during the last quarter. State Street Corp boosted its holdings in California Water Service Group by 5.9% in the first quarter. State Street Corp now owns 4,229,509 shares of the utilities provider's stock valued at $250,725,000 after acquiring an additional 234,146 shares during the last quarter. Invesco Ltd. boosted its holdings in California Water Service Group by 6.2% in the fourth quarter. Invesco Ltd. now owns 1,414,270 shares of the utilities provider's stock valued at $101,629,000 after acquiring an additional 81,975 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in California Water Service Group by 1.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,240,162 shares of the utilities provider's stock valued at $73,518,000 after acquiring an additional 14,621 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in California Water Service Group by 5.4% in the first quarter. Northern Trust Corp now owns 985,683 shares of the utilities provider's stock valued at $58,431,000 after acquiring an additional 50,908 shares during the last quarter. Hedge funds and other institutional investors own 80.07% of the company's stock.
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California Water Service Group Stock Down 0.8 %
Shares of CWT traded down $0.43 during midday trading on Friday, reaching $56.46. 194,627 shares of the company were exchanged, compared to its average volume of 264,031. The stock has a 50-day moving average price of $59.57 and a 200-day moving average price of $56.55. The company has a market cap of $3.07 billion, a price-to-earnings ratio of 34.22 and a beta of 0.34. California Water Service Group has a 1-year low of $48.46 and a 1-year high of $72.08. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 0.87.
California Water Service Group (NYSE:CWT – Get Rating) last issued its quarterly earnings data on Thursday, July 28th. The utilities provider reported $0.36 EPS for the quarter, missing analysts' consensus estimates of $0.60 by ($0.24). California Water Service Group had a return on equity of 7.39% and a net
margin of 10.69%. During the same period last year, the firm posted $0.75 EPS. Research analysts expect that California Water Service Group will post 1.78 earnings per share for the current year.
California Water Service Group Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, August 19th. Stockholders of record on Monday, August 8th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend was Friday, August 5th. California Water Service Group's payout ratio is 60.61%.
Analysts Set New Price Targets
Separately, StockNews.com cut California Water Service Group from a "hold" rating to a "sell" rating in a report on Monday, August 1st.
Insider Transactions at California Water Service Group
In other news, VP Michael B. Luu sold 425 shares of California Water Service Group stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $60.54, for a total transaction of $25,729.50. Following the sale, the vice president now directly owns 18,277 shares of the company's stock, valued at $1,106,489.58. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, VP Michael B. Luu sold 425 shares of California Water Service Group stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $60.54, for a total transaction of $25,729.50. Following the sale, the vice president now directly owns 18,277 shares of the company's stock, valued at $1,106,489.58. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Michelle R. Mortensen sold 615 shares of California Water Service Group stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $56.74, for a total value of $34,895.10. Following the sale, the insider now directly owns 8,582 shares in the company, valued at $486,942.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,640 shares of company stock valued at $159,782. 0.97% of the stock is currently owned by insiders.
About California Water Service Group
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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.
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