Tower Research Capital LLC TRC Boosts Stock Position in California Water Service Group (NYSE:CWT)

Tower Research Capital LLC TRC raised its position in shares of California Water Service Group (NYSE:CWTFree Report) by 3,683.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 30,154 shares of the utilities provider’s stock after buying an additional 29,357 shares during the quarter. Tower Research Capital LLC TRC’s holdings in California Water Service Group were worth $1,564,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. AdvisorNet Financial Inc lifted its position in California Water Service Group by 42.2% during the fourth quarter. AdvisorNet Financial Inc now owns 741 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 220 shares during the last quarter. TFO Wealth Partners LLC boosted its position in shares of California Water Service Group by 57,000.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,142 shares of the utilities provider’s stock worth $59,000 after purchasing an additional 1,140 shares in the last quarter. Signaturefd LLC boosted its position in shares of California Water Service Group by 77.6% in the 4th quarter. Signaturefd LLC now owns 1,891 shares of the utilities provider’s stock worth $98,000 after purchasing an additional 826 shares in the last quarter. Quadrant Capital Group LLC grew its stake in California Water Service Group by 93.3% during the 4th quarter. Quadrant Capital Group LLC now owns 3,748 shares of the utilities provider’s stock worth $194,000 after buying an additional 1,809 shares during the last quarter. Finally, Boston Family Office LLC acquired a new position in California Water Service Group during the 4th quarter valued at about $200,000. 82.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CWT has been the topic of a number of research analyst reports. Robert W. Baird boosted their price target on California Water Service Group from $52.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. UBS Group raised shares of California Water Service Group from a “sell” rating to a “neutral” rating and set a $49.00 target price on the stock in a research report on Thursday, April 4th. TheStreet lowered shares of California Water Service Group from a “b-” rating to a “c+” rating in a research note on Wednesday, February 14th. Finally, StockNews.com upgraded shares of California Water Service Group from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, California Water Service Group presently has an average rating of “Hold” and a consensus target price of $54.25.

View Our Latest Analysis on California Water Service Group

Insider Activity

In related news, Director Thomas M. Krummel sold 555 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $53.26, for a total transaction of $29,559.30. Following the sale, the director now directly owns 23,318 shares of the company’s stock, valued at $1,241,916.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Thomas M. Krummel sold 2,220 shares of California Water Service Group stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $50.00, for a total transaction of $111,000.00. Following the completion of the transaction, the director now directly owns 23,873 shares of the company’s stock, valued at approximately $1,193,650. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Thomas M. Krummel sold 555 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $53.26, for a total transaction of $29,559.30. Following the sale, the director now directly owns 23,318 shares in the company, valued at $1,241,916.68. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

California Water Service Group Price Performance

Shares of NYSE CWT opened at $46.94 on Tuesday. California Water Service Group has a 52 week low of $43.50 and a 52 week high of $56.80. The business’s 50 day moving average price is $48.79 and its 200 day moving average price is $48.61. The company has a quick ratio of 0.52, a current ratio of 0.56 and a debt-to-equity ratio of 0.72. The firm has a market cap of $2.71 billion, a P/E ratio of 18.78 and a beta of 0.48.

California Water Service Group (NYSE:CWTGet Free Report) last released its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.21 EPS for the quarter, beating the consensus estimate of $0.21 by $1.00. California Water Service Group had a net margin of 15.42% and a return on equity of 10.09%. The business had revenue of $270.75 million for the quarter, compared to the consensus estimate of $183.85 million. During the same period in the prior year, the firm earned ($0.40) EPS. The business’s revenue for the quarter was up 106.5% on a year-over-year basis. On average, sell-side analysts expect that California Water Service Group will post 3.15 earnings per share for the current year.

California Water Service Group Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Monday, May 6th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.39%. California Water Service Group’s payout ratio is currently 44.80%.

California Water Service Group Company Profile

(Free Report)

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.

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

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