Truist Financial Corp Decreases Position in California Water Service Group (NYSE:CWT)

Truist Financial Corp trimmed its position in shares of California Water Service Group (NYSE:CWTGet Rating) by 20.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,342 shares of the utilities provider’s stock after selling 1,919 shares during the quarter. Truist Financial Corp’s holdings in California Water Service Group were worth $387,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Wipfli Financial Advisors LLC purchased a new stake in California Water Service Group during the third quarter worth $27,000. Texas Permanent School Fund boosted its position in California Water Service Group by 0.6% during the third quarter. Texas Permanent School Fund now owns 39,095 shares of the utilities provider’s stock worth $2,060,000 after purchasing an additional 229 shares in the last quarter. AE Wealth Management LLC boosted its position in California Water Service Group by 12.2% during the third quarter. AE Wealth Management LLC now owns 5,812 shares of the utilities provider’s stock worth $306,000 after purchasing an additional 630 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in California Water Service Group by 4.4% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 55,669 shares of the utilities provider’s stock worth $2,933,000 after purchasing an additional 2,368 shares in the last quarter. Finally, First National Corp MA ADV boosted its position in California Water Service Group by 5.2% during the third quarter. First National Corp MA ADV now owns 48,626 shares of the utilities provider’s stock worth $2,562,000 after purchasing an additional 2,385 shares in the last quarter. 79.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. StockNews.com upgraded California Water Service Group from a “sell” rating to a “hold” rating in a research report on Monday, October 31st. Wells Fargo & Company upped their price objective on California Water Service Group to $63.00 in a research report on Wednesday, December 14th. Finally, UBS Group assumed coverage on California Water Service Group in a research report on Wednesday, November 30th. They issued a “neutral” rating and a $67.00 price objective on the stock.

California Water Service Group Stock Up 1.8 %

Shares of NYSE:CWT opened at $62.35 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.05 and a debt-to-equity ratio of 0.82. California Water Service Group has a 52-week low of $48.46 and a 52-week high of $66.12. The stock’s fifty day simple moving average is $62.50 and its 200-day simple moving average is $59.79. The company has a market capitalization of $3.42 billion, a P/E ratio of 42.13 and a beta of 0.45.

California Water Service Group (NYSE:CWTGet Rating) last issued its quarterly earnings data on Thursday, October 27th. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.13). California Water Service Group had a net margin of 9.76% and a return on equity of 6.61%. The company had revenue of $266.31 million during the quarter, compared to analysts’ expectations of $255.00 million. As a group, equities research analysts forecast that California Water Service Group will post 1.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Thomas M. Krummel sold 469 shares of the stock in a transaction dated Tuesday, December 13th. The stock was sold at an average price of $64.89, for a total transaction of $30,433.41. Following the transaction, the director now directly owns 28,636 shares in the company, valued at $1,858,190.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Thomas M. Krummel sold 469 shares of the stock in a transaction dated Tuesday, December 13th. The stock was sold at an average price of $64.89, for a total transaction of $30,433.41. Following the transaction, the director now directly owns 28,636 shares in the company, valued at $1,858,190.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas M. Krummel sold 1,529 shares of the stock in a transaction dated Wednesday, November 30th. The stock was sold at an average price of $62.92, for a total value of $96,204.68. Following the transaction, the director now owns 29,105 shares in the company, valued at $1,831,286.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,498 shares of company stock worth $156,572. 0.97% of the stock is owned by company insiders.

California Water Service Group Profile

(Get Rating)

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.

Featured Stories

Want to see what other hedge funds are holding CWT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for California Water Service Group (NYSE:CWTGet Rating).

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

Receive News & Ratings for California Water Service Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for California Water Service Group and related companies with MarketBeat.com's FREE daily email newsletter.