Northstar Asset Management Inc. Grows Stock Holdings in California Water Service Group (NYSE:CWT)

Northstar Asset Management Inc. raised its holdings in California Water Service Group (NYSE:CWT) by 9.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 94,843 shares of the utilities provider’s stock after buying an additional 8,263 shares during the quarter. Northstar Asset Management Inc. owned about 0.16% of California Water Service Group worth $4,299,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Assenagon Asset Management S.A. increased its holdings in California Water Service Group by 79.7% in the third quarter. Assenagon Asset Management S.A. now owns 252,833 shares of the utilities provider’s stock valued at $13,709,000 after buying an additional 112,118 shares in the last quarter. Barclays PLC lifted its stake in shares of California Water Service Group by 135.8% in the third quarter. Barclays PLC now owns 119,645 shares of the utilities provider’s stock worth $6,486,000 after buying an additional 68,914 shares in the last quarter. Arjuna Capital purchased a new stake in California Water Service Group in the 3rd quarter valued at $3,724,000. JPMorgan Chase & Co. increased its holdings in shares of California Water Service Group by 55.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 161,661 shares of the utilities provider’s stock worth $8,765,000 after buying an additional 57,811 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in California Water Service Group by 7.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 710,958 shares of the utilities provider’s stock valued at $38,548,000 after buying an additional 48,055 shares during the last quarter. 82.78% of the stock is currently owned by institutional investors and hedge funds.

California Water Service Group Stock Down 1.3 %

California Water Service Group stock opened at $44.95 on Tuesday. The stock’s 50 day moving average price is $45.08 and its 200 day moving average price is $50.03. 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 company has a market cap of $2.67 billion, a PE ratio of 12.99, a price-to-earnings-growth ratio of 0.45 and a beta of 0.52. California Water Service Group has a 1-year low of $41.64 and a 1-year high of $56.25.

California Water Service Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Monday, February 10th will be issued a $0.30 dividend. This is a positive change from California Water Service Group’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.20 annualized dividend and a yield of 2.67%. California Water Service Group’s dividend payout ratio is 32.37%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CWT. Wells Fargo & Company upgraded California Water Service Group from an “equal weight” rating to an “overweight” rating and cut their price objective for the company from $56.00 to $52.00 in a report on Tuesday, January 7th. Bank of America initiated coverage on California Water Service Group in a report on Wednesday, December 11th. They issued a “buy” rating and a $57.00 price target for the company. Finally, StockNews.com upgraded California Water Service Group from a “sell” rating to a “hold” rating in a research report on Saturday, February 8th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $53.25.

Insider Activity

In other California Water Service Group 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 transaction of $50,727.50. Following the transaction, the vice president now owns 20,354 shares of the company’s stock, valued at $1,048,231. This represents a 4.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.73% of the company’s stock.

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.