Duff & Phelps Investment Management Co. Sells 27,219 Shares of California Water Service Group (NYSE:CWT)

Duff & Phelps Investment Management Co. lowered its position in California Water Service Group (NYSE:CWT) by 42.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 36,335 shares of the utilities provider’s stock after selling 27,219 shares during the quarter. Duff & Phelps Investment Management Co. owned about 0.06% of California Water Service Group worth $1,647,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Parkworth Wealth Management Inc. bought a new position in California Water Service Group in the 4th quarter worth about $50,000. Millstone Evans Group LLC bought a new stake in shares of California Water Service Group during the 4th quarter valued at about $102,000. Virtu Financial LLC purchased a new position in shares of California Water Service Group during the fourth quarter worth about $200,000. Ieq Capital LLC bought a new position in shares of California Water Service Group in the fourth quarter worth approximately $202,000. Finally, Asset Planning Inc purchased a new stake in California Water Service Group in the fourth quarter valued at approximately $204,000. Hedge funds and other institutional investors own 82.78% of the company’s stock.

California Water Service Group Price Performance

CWT stock opened at $48.26 on Friday. The firm has a market cap of $2.87 billion, a P/E ratio of 13.95, a P/E/G ratio of 0.46 and a beta of 0.49. The firm’s fifty day moving average is $45.69 and its 200 day moving average is $48.55. 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 announced its quarterly earnings data on Thursday, February 27th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.05). California Water Service Group had a net margin of 19.56% and a return on equity of 13.24%. The company had revenue of $222.20 million for the quarter, compared to the consensus estimate of $216.37 million. During the same period last year, the business posted $0.52 earnings per share. Research analysts predict that California Water Service Group will post 3.15 earnings per share for the current year.

California Water Service Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Monday, February 10th were given a $0.30 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.20 annualized dividend and a yield of 2.49%. This is an increase from California Water Service Group’s previous quarterly dividend of $0.28. California Water Service Group’s payout ratio is presently 36.70%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. StockNews.com raised shares of California Water Service Group from a “sell” rating to a “hold” rating in a report on Saturday, February 8th. Wells Fargo & Company raised California Water Service Group from an “equal weight” rating to an “overweight” rating and reduced their target price for the company from $56.00 to $52.00 in a research note on Tuesday, January 7th. Finally, Bank of America assumed coverage on California Water Service Group in a research note on Wednesday, December 11th. They set a “buy” rating and a $57.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $53.25.

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.