Financial Counselors Inc. Has $3.06 Million Stake in California Water Service Group (NYSE:CWT)

Financial Counselors Inc. lowered its stake in California Water Service Group (NYSE:CWT) by 0.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,360 shares of the utilities provider’s stock after selling 278 shares during the period. Financial Counselors Inc.’s holdings in California Water Service Group were worth $3,056,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Blue Trust Inc. grew its stake in California Water Service Group by 255.6% in the 3rd quarter. Blue Trust Inc. now owns 505 shares of the utilities provider’s stock valued at $27,000 after buying an additional 363 shares during the last quarter. GAMMA Investing LLC boosted its holdings in California Water Service Group by 109.9% during the second quarter. GAMMA Investing LLC now owns 823 shares of the utilities provider’s stock valued at $40,000 after acquiring an additional 431 shares during the period. CWM LLC grew its position in shares of California Water Service Group by 90.8% in the second quarter. CWM LLC now owns 1,349 shares of the utilities provider’s stock valued at $65,000 after purchasing an additional 642 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of California Water Service Group in the second quarter worth about $85,000. Finally, nVerses Capital LLC acquired a new position in shares of California Water Service Group during the 3rd quarter worth about $119,000. Institutional investors and hedge funds own 82.78% of the company’s stock.

California Water Service Group Stock Performance

NYSE:CWT opened at $51.23 on Friday. The firm’s 50-day moving average is $52.15 and its 200-day moving average is $51.85. The company has a market cap of $3.05 billion, a price-to-earnings ratio of 14.81 and a beta of 0.49. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.60 and a current ratio of 0.64. California Water Service Group has a 52-week low of $43.50 and a 52-week high of $56.25.

California Water Service Group (NYSE:CWT) last issued its quarterly earnings results on Thursday, October 31st. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.02). The firm had revenue of $299.60 million for the quarter, compared to the consensus estimate of $289.55 million. California Water Service Group had a net margin of 19.56% and a return on equity of 13.24%. The company’s revenue was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.60 earnings per share. Equities research analysts anticipate that California Water Service Group will post 3.29 earnings per share for the current year.

California Water Service Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Tuesday, November 12th were paid a dividend of $0.28 per share. The ex-dividend date was Tuesday, November 12th. This represents a $1.12 dividend on an annualized basis and a yield of 2.19%. California Water Service Group’s dividend payout ratio is currently 32.37%.

Analysts Set New Price Targets

Separately, StockNews.com lowered California Water Service Group from a “hold” rating to a “sell” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $53.67.

Insider Activity

In other California Water Service Group news, VP Michael B. Luu sold 985 shares of California Water Service Group stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $51.50, for a total transaction of $50,727.50. Following the sale, the vice president now directly owns 20,354 shares of the company’s stock, valued at approximately $1,048,231. The trade was a 4.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas M. Krummel sold 555 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $55.09, for a total value of $30,574.95. Following the completion of the sale, the director now owns 21,951 shares in the company, valued at approximately $1,209,280.59. This represents a 2.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company’s stock.

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.