IQ EQ FUND MANAGEMENT IRELAND Ltd Sells 11,006 Shares of California Water Service Group (NYSE:CWT)

IQ EQ FUND MANAGEMENT IRELAND Ltd trimmed its position in shares of California Water Service Group (NYSE:CWT) by 13.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,261 shares of the utilities provider’s stock after selling 11,006 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd owned 0.12% of California Water Service Group worth $3,864,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. GAMMA Investing LLC raised 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 acquiring an additional 431 shares during the period. CWM LLC grew its position in shares of California Water Service Group by 90.8% during the second quarter. CWM LLC now owns 1,349 shares of the utilities provider’s stock worth $65,000 after purchasing an additional 642 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in California Water Service Group during the 2nd quarter valued at approximately $85,000. Rothschild Investment LLC purchased a new position in California Water Service Group in the 2nd quarter worth approximately $127,000. Finally, Choreo LLC bought a new position in California Water Service Group in the 2nd quarter worth approximately $231,000. Hedge funds and other institutional investors own 82.78% of the company’s stock.

Wall Street Analysts Forecast Growth

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

California Water Service Group Trading Up 1.6 %

Shares of California Water Service Group stock opened at $54.63 on Thursday. California Water Service Group has a twelve month low of $43.50 and a twelve month high of $56.25. The company has a quick ratio of 0.49, a current ratio of 0.52 and a debt-to-equity ratio of 0.68. The business has a 50-day moving average price of $53.79 and a 200-day moving average price of $50.98. The firm has a market cap of $3.16 billion, a price-to-earnings ratio of 21.85 and a beta of 0.49.

California Water Service Group (NYSE:CWT) last released its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.28. The business had revenue of $244.30 million during the quarter, compared to analysts’ expectations of $216.25 million. California Water Service Group had a return on equity of 11.94% and a net margin of 17.78%. The firm’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.17 EPS. Equities research analysts anticipate that California Water Service Group will post 3.33 EPS for the current fiscal year.

California Water Service Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 12th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date was Monday, August 12th. California Water Service Group’s payout ratio is 44.80%.

Insider Activity at California Water Service Group

In other California Water Service Group news, Director Thomas M. Krummel sold 555 shares of California Water Service Group stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $54.33, for a total value of $30,153.15. Following the completion of the transaction, the director now directly owns 22,506 shares of the company’s stock, valued at $1,222,750.98. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders have sold a total of 1,665 shares of company stock valued at $90,093 over the last 90 days. 0.73% of the stock is owned by corporate insiders.

About California Water Service Group

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.