California Water Service Group (NYSE:CWT) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund decreased its position in shares of California Water Service Group (NYSE:CWT) by 1.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 32,328 shares of the utilities provider’s stock after selling 550 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in California Water Service Group were worth $1,677,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Handelsbanken Fonder AB boosted its position in shares of California Water Service Group by 18.4% during the fourth quarter. Handelsbanken Fonder AB now owns 11,034 shares of the utilities provider’s stock worth $572,000 after buying an additional 1,718 shares during the period. Signaturefd LLC raised its stake in California Water Service Group by 77.6% during the 4th quarter. Signaturefd LLC now owns 1,891 shares of the utilities provider’s stock valued at $98,000 after acquiring an additional 826 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in California Water Service Group by 11.5% during the 4th quarter. Daiwa Securities Group Inc. now owns 4,662 shares of the utilities provider’s stock worth $242,000 after acquiring an additional 481 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in California Water Service Group by 782.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 184,016 shares of the utilities provider’s stock worth $9,545,000 after acquiring an additional 163,160 shares during the period. Finally, Louisiana State Employees Retirement System bought a new position in shares of California Water Service Group in the fourth quarter worth $1,499,000. Institutional investors own 82.78% of the company’s stock.

California Water Service Group Price Performance

Shares of NYSE CWT opened at $47.93 on Friday. California Water Service Group has a twelve month low of $43.50 and a twelve month high of $58.30. The company has a current ratio of 0.69, a quick ratio of 0.65 and a debt-to-equity ratio of 0.74. The firm has a 50-day moving average of $46.11 and a two-hundred day moving average of $48.31. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of 53.85 and a beta of 0.49.

California Water Service Group (NYSE:CWT) last released its earnings results on Thursday, April 25th. The utilities provider reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $1.00. The business had revenue of $270.75 million for the quarter, compared to the consensus estimate of $183.85 million. California Water Service Group had a net margin of 6.53% and a return on equity of 3.75%. The business’s revenue for the quarter was up 106.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.40) EPS. As a group, analysts expect that California Water Service Group will post 2.25 earnings per share for the current fiscal year.

California Water Service Group Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 6th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.34%. California Water Service Group’s dividend payout ratio (DPR) is presently 125.84%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. TheStreet cut shares of California Water Service Group from a “b-” rating to a “c+” rating in a research note on Wednesday, February 14th. Robert W. Baird boosted their price target on shares of California Water Service Group from $52.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday. StockNews.com upgraded shares of California Water Service Group from a “sell” rating to a “hold” rating in a report on Friday. Finally, UBS Group raised California Water Service Group from a “sell” rating to a “neutral” rating and set a $49.00 target price on the stock in a report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, California Water Service Group presently has a consensus rating of “Hold” and an average target price of $54.25.

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.