XTX Topco Ltd Boosts Position in California Water Service Group (NYSE:CWT)

XTX Topco Ltd grew its holdings in California Water Service Group (NYSE:CWT) by 58.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,475 shares of the utilities provider’s stock after acquiring an additional 3,489 shares during the period. XTX Topco Ltd’s holdings in California Water Service Group were worth $514,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings in California Water Service Group by 255.6% in the third quarter. Blue Trust Inc. now owns 505 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 363 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of California Water Service Group by 50.2% in the third quarter. GAMMA Investing LLC now owns 1,236 shares of the utilities provider’s stock worth $67,000 after buying an additional 413 shares during the last quarter. CWM LLC grew its holdings in 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 acquiring an additional 642 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in California Water Service Group during the second quarter worth about $85,000. Finally, nVerses Capital LLC purchased a new position in California Water Service Group during the third quarter valued at approximately $119,000. Institutional investors and hedge funds own 82.78% of the company’s stock.

Insider Activity at California Water Service Group

In related news, VP Michael B. Luu sold 985 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $51.50, for a total value of $50,727.50. Following the completion of the transaction, the vice president now directly owns 20,354 shares of the company’s stock, valued at approximately $1,048,231. This represents a 4.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.73% of the stock is currently owned by corporate insiders.

California Water Service Group Stock Up 0.1 %

California Water Service Group stock opened at $48.51 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.64 and a quick ratio of 0.60. The stock has a market capitalization of $2.88 billion, a PE ratio of 14.02 and a beta of 0.50. The business has a 50 day simple moving average of $51.21 and a 200-day simple moving average of $51.61. California Water Service Group has a 12 month low of $43.50 and a 12 month high of $56.25.

California Water Service Group (NYSE:CWT) last issued its quarterly earnings results on Thursday, October 31st. The utilities provider reported $1.03 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.02). The company had revenue of $299.60 million during the quarter, compared to analysts’ expectations of $289.55 million. California Water Service Group had a return on equity of 13.24% and a net margin of 19.56%. California Water Service Group’s revenue was up 17.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 EPS. On average, analysts anticipate that California Water Service Group will post 3.29 EPS for the current fiscal year.

California Water Service Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Tuesday, November 12th were given a dividend of $0.28 per share. The ex-dividend date was Tuesday, November 12th. This represents a $1.12 annualized dividend and a dividend yield of 2.31%. California Water Service Group’s dividend payout ratio (DPR) is presently 32.37%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CWT shares. StockNews.com cut shares of California Water Service Group from a “hold” rating to a “sell” rating in a research note on Friday. Bank of America started coverage on shares of California Water Service Group in a report on Wednesday. They set a “buy” rating and a $57.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $54.50.

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.