Cambridge Investment Research Advisors Inc. Buys New Stake in California Water Service Group (NYSE:CWT)

Cambridge Investment Research Advisors Inc. bought a new stake in California Water Service Group (NYSE:CWT – Get Rating) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 9,036 shares of the utilities provider’s stock, valued at approximately $548,000.

Other hedge funds have also recently modified their holdings of the company. Quadrant Capital Group LLC grew its position in shares of California Water Service Group by 559.0% in the 3rd quarter. Quadrant Capital Group LLC now owns 1,898 shares of the utilities provider’s stock valued at $100,000 after buying an additional 1,610 shares during the last quarter. US Bancorp DE grew its position in California Water Service Group by 8.9% during the 3rd quarter. US Bancorp DE now owns 2,840 shares of the utilities provider’s stock worth $150,000 after purchasing an additional 231 shares during the last quarter. Captrust Financial Advisors grew its position in California Water Service Group by 6.8% during the 2nd quarter. Captrust Financial Advisors now owns 3,208 shares of the utilities provider’s stock worth $178,000 after purchasing an additional 205 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in California Water Service Group during the 4th quarter worth $200,000. Finally, Cetera Investment Advisers purchased a new position in California Water Service Group during the 1st quarter worth $200,000. 79.01% of the stock is owned by hedge funds and other institutional investors.

California Water Service Group Stock Down 0.2 %

Shares of NYSE:CWT opened at $56.13 on Thursday. The company has a market cap of $3.14 billion, a price-to-earnings ratio of 41.89 and a beta of 0.48. The firm’s 50-day simple moving average is $57.39 and its 200-day simple moving average is $59.84. The company has a quick ratio of 0.73, a current ratio of 0.77 and a debt-to-equity ratio of 0.81. 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 issued its earnings results on Thursday, March 2nd. The utilities provider reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.13. The business had revenue of $200.94 million for the quarter, compared to the consensus estimate of $180.14 million. California Water Service Group had a net margin of 9.04% and a return on equity of 5.69%. During the same quarter in the previous year, the firm earned $0.07 earnings per share. As a group, equities research analysts predict that California Water Service Group will post 1.84 earnings per share for the current year.

California Water Service Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 19th. Stockholders of record on Monday, May 8th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend was Friday, May 5th. California Water Service Group’s payout ratio is 77.61%.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of California Water Service Group in a research report on Thursday, May 18th. They set a “sell” rating on the stock.

Insider Activity

In related news, VP Robert J. Kuta sold 1,000 shares of the firm’s stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $56.79, for a total value of $56,790.00. Following the completion of the sale, the vice president now owns 12,916 shares in the company, valued at $733,499.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.97% of the company’s stock.

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.