Arizona State Retirement System reduced its stake in California Water Service Group (NYSE:CWT) by 5.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,686 shares of the utilities provider’s stock after selling 822 shares during the quarter. Arizona State Retirement System’s holdings in California Water Service Group were worth $760,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Meeder Asset Management Inc. lifted its position in shares of California Water Service Group by 46.8% in the first quarter. Meeder Asset Management Inc. now owns 1,035 shares of the utilities provider’s stock valued at $58,000 after acquiring an additional 330 shares in the last quarter. CWM LLC purchased a new stake in shares of California Water Service Group in the first quarter valued at $72,000. Allworth Financial LP lifted its position in shares of California Water Service Group by 640.6% in the second quarter. Allworth Financial LP now owns 1,607 shares of the utilities provider’s stock valued at $89,000 after acquiring an additional 1,390 shares in the last quarter. Stonebridge Capital Advisors LLC purchased a new stake in shares of California Water Service Group in the first quarter valued at $120,000. Finally, Kelly Lawrence W & Associates Inc. CA purchased a new stake in shares of California Water Service Group in the first quarter valued at $141,000. Institutional investors and hedge funds own 76.84% of the company’s stock.
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Shares of NYSE:CWT opened at $64.49 on Monday. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 1.06. California Water Service Group has a 52-week low of $41.19 and a 52-week high of $65.99. The stock’s fifty day simple moving average is $61.44 and its 200-day simple moving average is $58.41. The company has a market capitalization of $3.28 billion, a P/E ratio of 21.94 and a beta of 0.13.
California Water Service Group (NYSE:CWT) last released its earnings results on Thursday, July 29th. The utilities provider reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.38. California Water Service Group had a return on equity of 15.71% and a net margin of 17.22%. On average, sell-side analysts anticipate that California Water Service Group will post 1.79 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 20th. Investors of record on Monday, August 9th were given a dividend of $0.23 per share. The ex-dividend date was Friday, August 6th. This represents a $0.92 annualized dividend and a yield of 1.43%. California Water Service Group’s dividend payout ratio (DPR) is presently 46.70%.
In other news, Director Lester A. Snow sold 700 shares of the firm’s stock in a transaction dated Thursday, August 12th. The stock was sold at an average price of $63.50, for a total value of $44,450.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Lynne P. Mcghee sold 746 shares of the firm’s stock in a transaction dated Wednesday, August 4th. The stock was sold at an average price of $64.00, for a total value of $47,744.00. The disclosure for this sale can be found here. Insiders have sold 3,250 shares of company stock worth $199,336 over the last quarter. 0.96% of the stock is currently owned by company insiders.
California Water Service Group Company Profile
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.
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