Arjuna Capital Purchases 609 Shares of California Water Service Group (NYSE:CWT)

Arjuna Capital grew its stake in California Water Service Group (NYSE:CWT) by 11.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,826 shares of the utilities provider’s stock after purchasing an additional 609 shares during the quarter. Arjuna Capital’s holdings in California Water Service Group were worth $316,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of CWT. BlackRock Inc. raised its holdings in California Water Service Group by 2.1% in the 4th quarter. BlackRock Inc. now owns 7,470,871 shares of the utilities provider’s stock worth $356,064,000 after purchasing an additional 155,103 shares in the last quarter. Segall Bryant & Hamill LLC bought a new position in California Water Service Group in the 4th quarter worth $6,692,000. Norges Bank bought a new position in California Water Service Group in the 4th quarter worth $6,293,000. Millennium Management LLC bought a new position in shares of California Water Service Group in the 4th quarter worth about $4,982,000. Finally, First Trust Advisors LP increased its stake in shares of California Water Service Group by 23.9% in the 1st quarter. First Trust Advisors LP now owns 273,820 shares of the utilities provider’s stock worth $14,863,000 after acquiring an additional 52,821 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Shares of California Water Service Group stock remained flat at $$51.37 during trading on Friday. 120,857 shares of the company traded hands, compared to its average volume of 280,533. California Water Service Group has a 52 week low of $39.85 and a 52 week high of $55.05. The company’s 50 day simple moving average is $50.32. The firm has a market capitalization of $2.47 billion, a price-to-earnings ratio of 37.77, a P/E/G ratio of 3.68 and a beta of 0.35. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.50 and a quick ratio of 0.49.

California Water Service Group (NYSE:CWT) last announced its quarterly earnings data on Thursday, April 25th. The utilities provider reported ($0.16) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.21). California Water Service Group had a net margin of 8.05% and a return on equity of 7.76%. The firm had revenue of $126.10 million for the quarter, compared to analysts’ expectations of $138.86 million. During the same period last year, the company posted ($0.05) earnings per share. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, equities research analysts predict that California Water Service Group will post 1.39 EPS for the current fiscal year.

Several brokerages recently issued reports on CWT. Boenning Scattergood began coverage on shares of California Water Service Group in a research note on Monday, June 10th. They issued a “neutral” rating for the company. Wells Fargo & Co reiterated a “hold” rating on shares of California Water Service Group in a research note on Monday, June 10th. Finally, ValuEngine lowered shares of California Water Service Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 11th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. California Water Service Group presently has a consensus rating of “Hold” and a consensus target price of $48.50.

In related news, VP Michael B. Luu sold 1,000 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $49.23, for a total transaction of $49,230.00. Following the sale, the vice president now directly owns 11,919 shares of the company’s stock, valued at approximately $586,772.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter C. Nelson sold 10,000 shares of the stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $49.10, for a total transaction of $491,000.00. Following the sale, the director now directly owns 39,509 shares in the company, valued at $1,939,891.90. The disclosure for this sale can be found here. Insiders have sold a total of 12,000 shares of company stock worth $590,230 over the last three months. 0.99% of the stock is currently owned by insiders.

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, 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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