State of Alaska Department of Revenue Purchases 231 Shares of California Water Service Group (NYSE:CWT)

State of Alaska Department of Revenue grew its position in shares of California Water Service Group (NYSE:CWT) by 0.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,800 shares of the utilities provider’s stock after acquiring an additional 231 shares during the period. State of Alaska Department of Revenue’s holdings in California Water Service Group were worth $1,532,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. raised its stake in shares of California Water Service Group by 255.6% during the third quarter. Blue Trust Inc. now owns 505 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 363 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of California Water Service Group by 50.2% during the third quarter. GAMMA Investing LLC now owns 1,236 shares of the utilities provider’s stock valued at $67,000 after acquiring an additional 413 shares during the last quarter. nVerses Capital LLC bought a new position in shares of California Water Service Group during the third quarter valued at about $119,000. CWM LLC raised its stake in shares of California Water Service Group by 129.1% during the third quarter. CWM LLC now owns 3,090 shares of the utilities provider’s stock valued at $168,000 after acquiring an additional 1,741 shares during the last quarter. Finally, Old Port Advisors bought a new position in shares of California Water Service Group during the third quarter valued at about $202,000. 82.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

CWT has been the subject of a number of research reports. Bank of America initiated coverage on shares of California Water Service Group in a research note on Wednesday, December 11th. They issued a “buy” rating and a $57.00 price target for the company. StockNews.com raised shares of California Water Service Group from a “sell” rating to a “hold” rating in a research note on Saturday, February 8th. Finally, Wells Fargo & Company raised shares of California Water Service Group from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $56.00 to $52.00 in a research note on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $53.25.

California Water Service Group Trading Down 0.8 %

NYSE:CWT opened at $45.33 on Thursday. The company’s 50 day moving average price is $45.29 and its 200-day moving average price is $50.22. California Water Service Group has a 52 week low of $41.64 and a 52 week high of $56.25. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 0.64. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of 13.10, a PEG ratio of 0.45 and a beta of 0.52.

California Water Service Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Monday, February 10th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Monday, February 10th. This is a boost from California Water Service Group’s previous quarterly dividend of $0.28. California Water Service Group’s dividend payout ratio is 32.37%.

Insider Buying and Selling at California Water Service Group

In other California Water Service Group news, VP Michael B. Luu sold 985 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $51.50, for a total transaction of $50,727.50. Following the sale, the vice president now owns 20,354 shares in the company, valued at approximately $1,048,231. This trade represents a 4.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.73% of the stock is owned by corporate insiders.

California Water Service Group Profile

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.