California Water Service Group (CWT) Stake Lowered by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its holdings in shares of California Water Service Group (NYSE:CWT) by 12.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 260,824 shares of the utilities provider’s stock after selling 35,429 shares during the quarter. JPMorgan Chase & Co. owned 0.54% of California Water Service Group worth $9,976,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nuance Investments LLC boosted its stake in California Water Service Group by 77.4% in the second quarter. Nuance Investments LLC now owns 321,059 shares of the utilities provider’s stock worth $11,815,000 after buying an additional 140,034 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in California Water Service Group by 27.6% in the second quarter. Ameriprise Financial Inc. now owns 330,104 shares of the utilities provider’s stock worth $12,147,000 after buying an additional 71,424 shares in the last quarter. First Trust Advisors LP boosted its stake in California Water Service Group by 43.3% in the third quarter. First Trust Advisors LP now owns 211,895 shares of the utilities provider’s stock worth $8,084,000 after buying an additional 64,015 shares in the last quarter. Vanguard Group Inc. boosted its stake in California Water Service Group by 1.3% in the second quarter. Vanguard Group Inc. now owns 4,985,488 shares of the utilities provider’s stock worth $183,466,000 after buying an additional 63,704 shares in the last quarter. Finally, State Street Corp boosted its stake in California Water Service Group by 4.7% in the second quarter. State Street Corp now owns 1,272,477 shares of the utilities provider’s stock worth $46,820,000 after buying an additional 57,115 shares in the last quarter. 69.54% of the stock is owned by institutional investors.

Several analysts have issued reports on the company. Zacks Investment Research lowered California Water Service Group from a “buy” rating to a “hold” rating in a research note on Thursday, November 16th. Barclays upped their target price on California Water Service Group from $30.00 to $32.00 and gave the stock an “underweight” rating in a research note on Friday, September 22nd. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $35.00 target price on shares of California Water Service Group in a research note on Sunday, September 3rd. Two analysts have rated the stock with a sell rating and six have given a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $36.75.

Shares of California Water Service Group (NYSE CWT) opened at $43.85 on Friday. The firm has a market capitalization of $2,095.86, a P/E ratio of 30.88, a PEG ratio of 5.46 and a beta of 0.73. California Water Service Group has a 52 week low of $32.45 and a 52 week high of $46.15. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.46 and a current ratio of 0.47.

California Water Service Group (NYSE:CWT) last released its quarterly earnings data on Thursday, October 26th. The utilities provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The firm had revenue of $211.70 million during the quarter, compared to analyst estimates of $203.00 million. California Water Service Group had a return on equity of 10.31% and a net margin of 10.46%. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.48 earnings per share. sell-side analysts forecast that California Water Service Group will post 1.33 EPS for the current year.

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California Water Service Group 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.

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

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