Rhumbline Advisers Sells 2,749 California Water Service Group (NYSE:CWT) Shares

VaselineSeptember 12, 2024

0 4 minutes read

Rhumbline Advisers cut its stake in shares of California Water Service Group (NYSE:CWT – Free Report ) by 1.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. . The firm owned 211,458 shares of the utilities provider’s stock after selling 2,749 shares during the period. Rhumbline Advisers’ holdings in California Water Service Group were worth $10,254,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. UniSuper Management Pty Ltd purchased a new stake in California Water Service Group in the 1st quarter valued at approximately $670,000. Assenagon Asset Management SA acquired a new stake in shares of California Water Service Group in the second quarter worth $6,823,000. Tidal Investments LLC bought a new stake in California Water Service Group in the first quarter valued at about $535,000. Russell Investments Group Ltd. raised its position in shares of California Water Service Group by 19.4% in the first quarter. Russell Investments Group Ltd. now owns 194,093 shares of the utilities provider’s stock valued at $9,021,000 after purchasing an additional 31,522 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in California Water Service Group by 3,683.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 30,154 shares of the utilities provider’s stock worth 1,564 $.000 after buying an additional 29,357 shares in the last quarter. Hedge funds and other institutional investors own 82.78% of the company’s shares.

California Water Service Group stock fell 3.2%

Shares of NYSE CWT opened at $53.28 on Thursday. California Water Service Group has a 1 year low of $43.50 and a 1 year high of $55.52. The firm has a 50 day simple moving average of $53.01 and a two hundred day simple moving average of $49.71. The company has a market cap of $3.08 billion, a P/E ratio of 21.31 and a beta of 0.49. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.52, and a quick ratio of 0.49.

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California Water Service Group (NYSE:CWT – Get Free Report ) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.70 EPS for the quarter, topping the consensus estimate 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. In the same quarter last year, the firm posted EPS of $0.17. The company’s revenue was up 25.9% compared to the same quarter last year. research analysts anticipate that California Water Service Group will post 3.33 earnings per share for the current year.

California Water Service Group announces dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 12th were issued a $0.28 dividend. The ex-dividend date was Monday, August 12. This represents an annualized dividend of $1.12 and a dividend yield of 2.10%. California Water Service Group’s dividend payout ratio is currently 44.80%.

Indoor activity

In other news, Director Thomas M. Krummel sold 1,654 shares of the business’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $50.07, for a total transaction of $82,815.78. Following the transaction, the director now directly owns 24,171 shares of the company’s stock, valued at $1,210,241.97. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC’s website. In other California Water Service Group news, Director Thomas M. Krummel sold 1,654 shares of the company’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $50.07, for a total value of $82,815.78. Following the completion of the transaction, the director now owns 24,171 shares of the company’s stock, valued at $1,210,241.97. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Thomas M. Krummel sold 555 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $52.91, for a total value of $29,365.05. Following the completion of the transaction, the director now owns 23,061 shares of the company’s stock, valued at $1,220,157.51. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,874 shares of company stock worth $202,318. 0.73% of shares are currently owned by company insiders.

The Wall Street analyst weighs in

Separately, Wells Fargo & Company upgraded shares of California Water Service Group from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $50.00 to $57.00 in the a research report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company. California Water Service Group has an average rating of “Hold” and a consensus price target of $53.67, based on data from MarketBeat.

Read the latest research report from the California Water Services Group

About California Water Service Group

(Free Report)

California Water Service Group, through its subsidiaries, provides water 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 purposes, as well as for fire protection services.