Two Sigma Advisers LP Trims Holdings in California Water Service Group (NYSE:CWT)

Two Sigma Advisers LP lowered its position in California Water Service Group (NYSE:CWT) by 9.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,913 shares of the utilities provider’s stock after selling 3,887 shares during the period. Two Sigma Advisers LP owned approximately 0.07% of California Water Service Group worth $1,807,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Orion Portfolio Solutions LLC acquired a new stake in California Water Service Group during the 4th quarter worth about $32,000. Meeder Asset Management Inc. raised its position in California Water Service Group by 68.1% during the fourth quarter. Meeder Asset Management Inc. now owns 1,535 shares of the utilities provider’s stock valued at $79,000 after acquiring an additional 622 shares in the last quarter. Creative Financial Designs Inc. ADV purchased a new position in California Water Service Group during the first quarter valued at approximately $98,000. Mutual of America Capital Management LLC lifted its holdings in California Water Service Group by 20.4% in the first quarter. Mutual of America Capital Management LLC now owns 2,085 shares of the utilities provider’s stock valued at $105,000 after acquiring an additional 353 shares during the period. Finally, Vestcor Investment Management Corp purchased a new stake in California Water Service Group in the 4th quarter worth approximately $164,000. Institutional investors own 73.38% of the company’s stock.

CWT opened at $46.39 on Wednesday. The firm’s fifty day simple moving average is $45.81 and its two-hundred day simple moving average is $49.78. California Water Service Group has a 52-week low of $39.74 and a 52-week high of $57.48. The company has a market cap of $2.26 billion, a price-to-earnings ratio of 44.18 and a beta of 0.01. The company has a quick ratio of 0.51, a current ratio of 0.53 and a debt-to-equity ratio of 1.04.

California Water Service Group (NYSE:CWT) last released its quarterly earnings results on Thursday, April 30th. The utilities provider reported ($0.42) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.44). California Water Service Group had a return on equity of 6.69% and a net margin of 7.07%. The company had revenue of $125.56 million for the quarter, compared to analyst estimates of $69.33 million. During the same quarter last year, the company earned ($0.16) EPS. The firm’s revenue for the quarter was down .4% on a year-over-year basis. On average, research analysts forecast that California Water Service Group will post 1.43 EPS for the current year.

CWT has been the subject of several analyst reports. Zacks Investment Research upgraded shares of California Water Service Group from a “sell” rating to a “hold” rating in a research note on Wednesday, April 8th. Seaport Global Securities initiated coverage on shares of California Water Service Group in a report on Wednesday, May 20th. They issued a “neutral” rating for the company. Boenning Scattergood raised shares of California Water Service Group from a “neutral” rating to an “outperform” rating and set a $52.00 target price on the stock in a research note on Friday, May 1st. TheStreet lowered California Water Service Group from a “b-” rating to a “c” rating in a research note on Thursday, May 14th. Finally, Wells Fargo & Co reduced their price target on California Water Service Group from $55.00 to $50.00 and set an “equal weight” rating for the company in a report on Friday, May 1st. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. California Water Service Group presently has a consensus rating of “Hold” and a consensus price target 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, and Hawaii. It 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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Institutional Ownership by Quarter for California Water Service Group (NYSE:CWT)

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