Bristlecone Advisors LLC Invests $490,000 in California Water Service Group (NYSE:CWT)

Bristlecone Advisors LLC purchased a new position in California Water Service Group (NYSE:CWT - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 10,112 shares of the utilities provider's stock, valued at approximately $490,000.

A number of other hedge funds also recently bought and sold shares of CWT. Quadrature Capital Ltd grew its stake in California Water Service Group by 4.6% in the 1st quarter. Quadrature Capital Ltd now owns 6,661 shares of the utilities provider's stock valued at $309,000 after acquiring an additional 295 shares during the period. GAMMA Investing LLC lifted 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 purchasing an additional 431 shares in the last quarter. Maryland State Retirement & Pension System grew its position in shares of California Water Service Group by 0.6% in the fourth quarter. Maryland State Retirement & Pension System now owns 69,575 shares of the utilities provider's stock valued at $3,609,000 after purchasing an additional 442 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of California Water Service Group by 11.5% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,662 shares of the utilities provider's stock worth $242,000 after purchasing an additional 481 shares in the last quarter. Finally, Illinois Municipal Retirement Fund raised its position in shares of California Water Service Group by 1.5% during the 1st quarter. Illinois Municipal Retirement Fund now owns 32,828 shares of the utilities provider's stock worth $1,526,000 after purchasing an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 82.78% of the company's stock.

Insiders Place Their Bets

In other news, Director Thomas M. Krummel sold 555 shares of the company's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $54.33, for a total value of $30,153.15. Following the transaction, the director now owns 22,506 shares of the company's stock, valued at approximately $1,222,750.98. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other California Water Service Group news, Director Thomas M. Krummel sold 1,654 shares of the business's stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $50.07, for a total value of $82,815.78. Following the sale, the director now owns 24,171 shares of the company's stock, valued at $1,210,241.97. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Thomas M. Krummel sold 555 shares of the firm's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $54.33, for a total value of $30,153.15. Following the transaction, the director now owns 22,506 shares of the company's stock, valued at $1,222,750.98. The disclosure for this sale can be found here. Insiders sold a total of 3,319 shares of company stock valued at $171,743 over the last quarter. 0.73% of the stock is owned by insiders.

Analyst Ratings Changes

Separately, Wells Fargo & Company upgraded California Water Service Group from an "underweight" rating to an "equal weight" rating and boosted their price objective for the stock from $50.00 to $57.00 in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $53.67.

Get Our Latest Stock Report on CWT

California Water Service Group Trading Up 0.4 %

Shares of NYSE CWT traded up $0.24 during trading on Monday, hitting $53.83. 75,127 shares of the company were exchanged, compared to its average volume of 341,656. The company has a fifty day moving average price of $51.32 and a 200-day moving average price of $49.03. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.52 and a current ratio of 0.52. The firm has a market capitalization of $3.11 billion, a PE ratio of 21.44 and a beta of 0.47. California Water Service Group has a 12-month low of $43.50 and a 12-month high of $55.15.

California Water Service Group (NYSE:CWT - Get Free Report) last issued its earnings results on Thursday, August 1st. The utilities provider reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.28. California Water Service Group had a net margin of 17.78% and a return on equity of 11.94%. The company had revenue of $244.30 million for the quarter, compared to the consensus estimate of $216.25 million. During the same period in the previous year, the firm earned $0.17 earnings per share. California Water Service Group's quarterly revenue was up 25.9% compared to the same quarter last year. As a group, equities research analysts expect that California Water Service Group will post 3.15 EPS for the current year.

California Water Service Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 12th were given a $0.28 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.12 annualized dividend and a yield of 2.08%. California Water Service Group's payout ratio is 44.80%.

California Water Service Group Company 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.

Read More

• Five stocks we like better than California Water Service Group
• Are Penny Stocks a Good Fit for Your Portfolio?
• Why the Buy-and-Hold Strategy May Be Best for Most Investors
• Stock Trading Terms - Stock Terms Every Investor Needs to Know
• Eli Lilly’s Path to the Next Trillion Market Capitalization
• What Investors Need to Know About Upcoming IPOs
• Mobileye Global: CEO Makes $10 Million Bet on Future Strength

Want to see what other hedge funds are holding CWT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for California Water Service Group (NYSE:CWT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

→ What Is the $7,882 Stimulus Payment 2024? (From Angel Publishing) (Ad)

Should you invest $1,000 in California Water Service Group right now?

Before you consider California Water Service Group, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and California Water Service Group wasn't on the list.

While California Water Service Group currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here