Goldman Sachs Group Inc. Sells 29,913 Shares of California Water Service Group Holding (CWT)

Goldman Sachs Group Inc. decreased its stake in shares of California Water Service Group Holding (NYSE:CWT) by 36.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,937 shares of the utilities provider’s stock after selling 29,913 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.11% of California Water Service Group Holding worth $1,912,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Stifel Financial Corp purchased a new stake in California Water Service Group Holding during the 2nd quarter worth about $225,000. Voya Investment Management LLC increased its holdings in California Water Service Group Holding by 7.0% during the 2nd quarter. Voya Investment Management LLC now owns 23,511 shares of the utilities provider’s stock worth $865,000 after purchasing an additional 1,528 shares during the period. Dimensional Fund Advisors LP increased its holdings in California Water Service Group Holding by 0.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,619,018 shares of the utilities provider’s stock worth $59,579,000 after purchasing an additional 5,639 shares during the period. Advisor Group Inc. increased its holdings in California Water Service Group Holding by 946.7% during the 2nd quarter. Advisor Group Inc. now owns 17,050 shares of the utilities provider’s stock worth $627,000 after purchasing an additional 15,421 shares during the period. Finally, M&T Bank Corp increased its holdings in California Water Service Group Holding by 5.9% during the 2nd quarter. M&T Bank Corp now owns 8,623 shares of the utilities provider’s stock worth $317,000 after purchasing an additional 477 shares during the period. Institutional investors own 68.00% of the company’s stock.

Several equities research analysts have weighed in on the company. Zacks Investment Research upgraded California Water Service Group Holding from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Friday, October 27th. BidaskClub cut California Water Service Group Holding from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Barclays PLC upped their price objective on California Water Service Group Holding from $30.00 to $32.00 and gave the stock an “underweight” rating in a research report on Friday, September 22nd. US Capital Advisors reaffirmed a “hold” rating on shares of California Water Service Group Holding in a research report on Monday, July 17th. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $35.00 price objective on shares of California Water Service Group Holding in a research report on Sunday, September 3rd. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $36.75.

COPYRIGHT VIOLATION WARNING: This news story was originally reported by Community Financial News and is owned by of Community Financial News. If you are viewing this news story on another site, it was illegally copied and republished in violation of international trademark and copyright laws. The correct version of this news story can be read at https://www.com-unik.info/2017/11/02/goldman-sachs-group-inc-sells-29913-shares-of-california-water-service-group-holding-cwt.html.

In other news, VP Lynne P. Mcghee sold 1,079 shares of California Water Service Group Holding stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $36.94, for a total transaction of $39,858.26. Following the sale, the vice president now directly owns 18,581 shares of the company’s stock, valued at $686,382.14. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Lynne P. Mcghee sold 1,605 shares of California Water Service Group Holding stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $37.61, for a total value of $60,364.05. Following the sale, the vice president now directly owns 19,660 shares in the company, valued at $739,412.60. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

California Water Service Group Holding (NYSE:CWT) last announced its earnings results on Thursday, October 26th. The utilities provider reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.02. California Water Service Group Holding had a return on equity of 10.31% and a net margin of 10.46%. The business had revenue of $211.70 million for the quarter, compared to analyst estimates of $203.00 million. During the same period in the previous year, the company earned $0.48 earnings per share. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 17th. Stockholders of record on Monday, November 6th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Friday, November 3rd. California Water Service Group Holding’s payout ratio is 50.70%.

California Water Service Group Holding Company Profile

California Water Service Group is a holding company. The Company operates through the supply and distribution of water and providing water-related utility services segment. The Company, through its subsidiaries, provides non-regulated services and non-regulated services to private companies and municipalities.

Want to see what other hedge funds are holding CWT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for California Water Service Group Holding (NYSE:CWT).

Institutional Ownership by Quarter for California Water  Service Group Holding (NYSE:CWT)

What are top analysts saying about California Water Service Group Holding? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for California Water Service Group Holding and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit