UBS Group AG Purchases 5,755 Shares of California Water Service Group (NYSE:CWT)

UBS Group AG grew its position in shares of California Water Service Group (NYSE:CWT – Get Rating) by 12.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 50,933 shares of the utilities provider’s stock after acquiring an additional 5,755 shares during the quarter. UBS Group AG owned about 0.09% of California Water Service Group worth $2,683,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the business. Allianz Asset Management GmbH raised its position in shares of California Water Service Group by 1.1% during the 1st quarter. Allianz Asset Management GmbH now owns 17,341 shares of the utilities provider’s stock valued at $1,028,000 after buying an additional 196 shares in the last quarter. Captrust Financial Advisors increased its stake in California Water Service Group by 6.8% during the second quarter. Captrust Financial Advisors now owns 3,208 shares of the utilities provider’s stock worth $178,000 after acquiring an additional 205 shares during the last quarter. Texas Permanent School Fund raised 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 valued at $2,060,000 after purchasing an additional 229 shares during the period. US Bancorp DE lifted its stake in shares of California Water Service Group by 8.9% in the 3rd quarter. US Bancorp DE now owns 2,840 shares of the utilities provider’s stock valued at $150,000 after purchasing an additional 231 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its stake in shares of California Water Service Group by 4.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 5,974 shares of the utilities provider’s stock valued at $332,000 after purchasing an additional 261 shares during the last quarter. Institutional investors own 79.01% of the company’s stock.

Insider Buying and Selling at California Water Service Group

In other news, Director Thomas M. Krummel sold 469 shares of the company’s stock in a transaction that occurred on Tuesday, December 13th. The shares were sold at an average price of $64.89, for a total value of $30,433.41. Following the completion of the sale, the director now owns 28,636 shares of the company’s stock, valued at approximately $1,858,190.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.97% of the company’s stock.

California Water Service Group Stock Performance

California Water Service Group stock opened at $56.84 on Monday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.02 and a current ratio of 1.00. The company has a market capitalization of $3.16 billion, a PE ratio of 32.30 and a beta of 0.48. The company has a 50 day moving average price of $60.88 and a 200-day moving average price of $60.00. California Water Service Group has a fifty-two week low of $48.46 and a fifty-two week high of $66.12.

California Water Service Group (NYSE:CWT – Get Rating) last released its quarterly earnings data on Wednesday, March 1st. The utilities provider reported $0.35 EPS for the quarter, topping the consensus estimate of $0.22 by $0.13. California Water Service Group had a return on equity of 7.72% and a net margin of 11.34%. The company had revenue of $200.94 million for the quarter, compared to the consensus estimate of $180.14 million. During the same period last year, the business posted $0.07 EPS. As a group, equities analysts forecast that California Water Service Group will post 1.91 earnings per share for the current year.

California Water Service Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 17th. Investors of record on Monday, February 6th were paid a $0.26 dividend. The ex-dividend date was Friday, February 3rd. This is a positive change from California Water Service Group’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 1.83%. California Water Service Group’s dividend payout ratio is 59.09%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CWT. UBS Group initiated coverage on California Water Service Group in a report on Wednesday, November 30th. They set a “neutral” rating and a $67.00 price target on the stock. Wells Fargo & Company increased their target price on shares of California Water Service Group to $63.00 in a research note on Wednesday, December 14th.

California Water Service Group Profile

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California Water Service Group is a holding company, which engages in provision of water utility and other related services in California, Washington, New Mexico, and Hawaii through its wholly-owned subsidiaries. The firm 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.