Clear Harbor Asset Management LLC Has $2.39 Million Position in California Water Service Group (NYSE:CWT)

Clear Harbor Asset Management LLC lessened its holdings in California Water Service Group (NYSE:CWT) by 5.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,786 shares of the utilities provider’s stock after selling 2,760 shares during the period. Clear Harbor Asset Management LLC owned 0.09% of California Water Service Group worth $2,393,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CWT. FMR LLC increased its stake in shares of California Water Service Group by 70.5% in the third quarter. FMR LLC now owns 63,625 shares of the utilities provider’s stock worth $3,450,000 after purchasing an additional 26,299 shares during the period. JPMorgan Chase & Co. boosted its position in shares of California Water Service Group by 55.7% in the third quarter. JPMorgan Chase & Co. now owns 161,661 shares of the utilities provider’s stock valued at $8,765,000 after acquiring an additional 57,811 shares during the period. Quest Partners LLC increased its position in California Water Service Group by 297.1% during the third quarter. Quest Partners LLC now owns 22,676 shares of the utilities provider’s stock worth $1,229,000 after acquiring an additional 16,966 shares during the period. Geode Capital Management LLC grew its position in California Water Service Group by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,337,966 shares of the utilities provider’s stock worth $72,559,000 after purchasing an additional 24,275 shares during the last quarter. Finally, Entropy Technologies LP bought a new position in shares of California Water Service Group during the 3rd quarter worth about $588,000. 82.78% of the stock is currently owned by institutional investors.

California Water Service Group Stock Performance

Shares of NYSE:CWT opened at $44.57 on Tuesday. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of 12.88, a price-to-earnings-growth ratio of 0.45 and a beta of 0.52. The business’s fifty day moving average price is $47.45 and its two-hundred day moving average price is $51.03. California Water Service Group has a fifty-two week low of $41.64 and a fifty-two week high of $56.25. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.64 and a quick ratio of 0.60.

California Water Service Group (NYSE:CWT) last announced 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 for the quarter was up 17.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.60 earnings per share. As a group, analysts predict that California Water Service Group will post 3.15 EPS for the current fiscal year.

California Water Service Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Tuesday, November 12th were given a $0.28 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $1.12 annualized dividend and a yield of 2.51%. California Water Service Group’s payout ratio is 32.37%.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other California Water Service Group news, VP Michael B. Luu sold 985 shares of the company’s stock in a transaction 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 transaction, the vice president now owns 20,354 shares of the company’s stock, valued at approximately $1,048,231. This represents a 4.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.73% of the company’s stock.

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.