FARMERS & MERCHANTS TRUST Co OF LONG BEACH Sells 1,218 Shares of California Water Service Group (NYSE:CWT)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH reduced its holdings in shares of California Water Service Group (NYSE:CWT) by 8.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,500 shares of the utilities provider’s stock after selling 1,218 shares during the quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in California Water Service Group were worth $612,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CWT. Blue Trust Inc. lifted its holdings in California Water Service Group by 255.6% during the 3rd 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 lifted its stake in shares of California Water Service Group by 50.2% during the 3rd 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. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of California Water Service Group during the 2nd quarter worth about $85,000. nVerses Capital LLC bought a new stake in shares of California Water Service Group during the 3rd quarter worth about $119,000. Finally, CWM LLC grew its stake in California Water Service Group by 129.1% in the 3rd quarter. CWM LLC now owns 3,090 shares of the utilities provider’s stock valued at $168,000 after buying an additional 1,741 shares during the last quarter. 82.78% of the stock is currently owned by institutional investors.

Insider Activity

In related news, VP Michael B. Luu sold 985 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $51.50, for a total value of $50,727.50. Following the sale, the vice president now directly owns 20,354 shares of the company’s stock, valued at $1,048,231. This trade represents a 4.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.73% of the company’s stock.

California Water Service Group Stock Down 0.4 %

Shares of NYSE CWT opened at $44.57 on Friday. The stock has a market capitalization of $2.65 billion, a P/E ratio of 12.88, a PEG ratio of 0.42 and a beta of 0.52. The stock’s fifty day moving average is $47.59 and its 200 day moving average is $51.01. California Water Service Group has a 52 week low of $41.64 and a 52 week high of $56.25. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.60 and a current ratio of 0.64.

California Water Service Group (NYSE:CWT) last released its 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 firm had revenue of $299.60 million during the quarter, compared to the consensus estimate of $289.55 million. California Water Service Group had a net margin of 19.56% and a return on equity of 13.24%. California Water Service Group’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.60 earnings per share. Sell-side analysts forecast that California Water Service Group will post 3.15 earnings per share for the current fiscal year.

California Water Service Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Tuesday, November 12th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend was Tuesday, November 12th. California Water Service Group’s dividend payout ratio is presently 32.37%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. StockNews.com upgraded California Water Service Group from a “sell” rating to a “hold” rating in a research report on Wednesday, January 8th. Wells Fargo & Company raised shares of California Water Service Group from an “equal weight” rating to an “overweight” rating and lowered their price target for the stock from $56.00 to $52.00 in a research report on Tuesday, January 7th. Finally, Bank of America assumed coverage on shares of California Water Service Group in a report on Wednesday, December 11th. They issued a “buy” rating and a $57.00 price objective for the company. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, California Water Service Group has an average rating of “Moderate Buy” and a consensus price target of $53.25.

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, 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.