California Water Service Group (NYSE:CWT) Stock Position Lifted by Redpoint Investment Management Pty Ltd

Redpoint Investment Management Pty Ltd boosted its holdings in shares of California Water Service Group (NYSE:CWT) by 36.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,523 shares of the utilities provider’s stock after purchasing an additional 2,800 shares during the period. Redpoint Investment Management Pty Ltd’s holdings in California Water Service Group were worth $557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the business. Atria Investments LLC acquired a new position in California Water Service Group during the second quarter worth $9,119,000. Morgan Stanley boosted its position in shares of California Water Service Group by 80.0% during the 2nd quarter. Morgan Stanley now owns 484,613 shares of the utilities provider’s stock valued at $24,536,000 after acquiring an additional 215,343 shares during the last quarter. Nuance Investments LLC acquired a new position in shares of California Water Service Group during the 2nd quarter valued at about $9,306,000. Nuveen Asset Management LLC increased its position in California Water Service Group by 19.1% during the second quarter. Nuveen Asset Management LLC now owns 818,155 shares of the utilities provider’s stock worth $41,423,000 after purchasing an additional 131,174 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D raised its stake in California Water Service Group by 289.6% during the third quarter. State of New Jersey Common Pension Fund D now owns 97,400 shares of the utilities provider’s stock worth $5,155,000 after purchasing an additional 72,400 shares during the period. 74.60% of the stock is currently owned by institutional investors.

In other California Water Service Group news, Director Peter C. Nelson sold 10,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $49.56, for a total value of $495,600.00. Following the completion of the transaction, the director now owns 14,283 shares in the company, valued at $707,865.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.99% of the stock is owned by corporate insiders.

CWT stock traded down $0.52 during mid-day trading on Monday, hitting $50.39. 152,742 shares of the company were exchanged, compared to its average volume of 235,893. The firm has a market capitalization of $2.41 billion, a P/E ratio of 37.05, a PEG ratio of 3.64 and a beta of 0.20. The company has a quick ratio of 0.61, a current ratio of 0.63 and a debt-to-equity ratio of 1.07. California Water Service Group has a 12-month low of $44.45 and a 12-month high of $57.48. The business has a fifty day simple moving average of $51.06 and a 200-day simple moving average of $52.63.

California Water Service Group (NYSE:CWT) last issued its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.88 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.09. California Water Service Group had a return on equity of 9.18% and a net margin of 9.52%. The business had revenue of $232.50 million during the quarter, compared to analysts’ expectations of $224.50 million. During the same period in the previous year, the firm posted $0.72 earnings per share. The company’s revenue was up 6.2% on a year-over-year basis. Research analysts predict that California Water Service Group will post 1.4 EPS for the current year.

Separately, ValuEngine raised shares of California Water Service Group from a “hold” rating to a “buy” rating in a research note on Tuesday, December 10th.

California Water Service Group Profile

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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