Triodos Investment Management BV Acquires 45,000 Shares of California Water Service Group (NYSE:CWT)

Triodos Investment Management BV lifted its holdings in California Water Service Group (NYSE:CWT) by 10.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 493,000 shares of the utilities provider’s stock after buying an additional 45,000 shares during the period. California Water Service Group makes up about 1.8% of Triodos Investment Management BV’s portfolio, making the stock its 28th biggest holding. Triodos Investment Management BV’s holdings in California Water Service Group were worth $22,348,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. FMR LLC increased its stake in California Water Service Group by 70.5% during the third quarter. FMR LLC now owns 63,625 shares of the utilities provider’s stock worth $3,450,000 after acquiring an additional 26,299 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in California Water Service Group by 55.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 161,661 shares of the utilities provider’s stock valued at $8,765,000 after buying an additional 57,811 shares during the period. Geode Capital Management LLC lifted its position in California Water Service Group by 1.8% in the third quarter. Geode Capital Management LLC now owns 1,337,966 shares of the utilities provider’s stock worth $72,559,000 after buying an additional 24,275 shares during the last quarter. Intech Investment Management LLC purchased a new position in California Water Service Group during the third quarter worth $585,000. Finally, Charles Schwab Investment Management Inc. increased its position in California Water Service Group by 7.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 710,958 shares of the utilities provider’s stock valued at $38,548,000 after acquiring an additional 48,055 shares during the last quarter. 82.78% of the stock is currently owned by hedge funds and other institutional investors.

California Water Service Group Stock Performance

Shares of NYSE:CWT opened at $46.49 on Friday. 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 company has a market capitalization of $2.77 billion, a price-to-earnings ratio of 13.44, a price-to-earnings-growth ratio of 0.46 and a beta of 0.49. The firm has a 50 day moving average of $45.62 and a 200 day moving average of $48.59. California Water Service Group has a 52 week low of $41.64 and a 52 week high of $56.25.

California Water Service Group (NYSE:CWT) last issued its quarterly earnings data on Thursday, February 27th. The utilities provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.05). The company had revenue of $222.20 million for the quarter, compared to the consensus estimate of $216.37 million. California Water Service Group had a net margin of 19.56% and a return on equity of 13.24%. During the same period in the previous year, the business earned $0.52 EPS. On average, sell-side analysts predict that California Water Service Group will post 3.15 earnings per share for the current fiscal year.

California Water Service Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Monday, February 10th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend was Monday, February 10th. This is a positive change from California Water Service Group’s previous quarterly dividend of $0.28. California Water Service Group’s payout ratio is 36.70%.

Analysts Set New Price Targets

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

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.