Pictet Asset Management Holding SA Buys 2,654 Shares of California Water Service Group (NYSE:CWT)

Pictet Asset Management Holding SA increased its stake in shares of California Water Service Group (NYSE:CWT) by 28.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,886 shares of the utilities provider’s stock after acquiring an additional 2,654 shares during the quarter. Pictet Asset Management Holding SA’s holdings in California Water Service Group were worth $539,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of CWT. Parkworth Wealth Management Inc. bought a new position in shares of California Water Service Group during the 4th quarter worth about $50,000. Millstone Evans Group LLC acquired a new position in California Water Service Group during the 4th quarter worth approximately $102,000. Virtu Financial LLC bought a new position in California Water Service Group in the fourth quarter worth approximately $200,000. Ieq Capital LLC acquired a new stake in California Water Service Group in the fourth quarter valued at approximately $202,000. Finally, Asset Planning Inc bought a new stake in shares of California Water Service Group during the fourth quarter valued at approximately $204,000. 82.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CWT shares. Wells Fargo & Company upgraded California Water Service Group from an “equal weight” rating to an “overweight” rating and cut their target price for the stock from $56.00 to $52.00 in a report on Tuesday, January 7th. StockNews.com downgraded shares of California Water Service Group from a “hold” rating to a “sell” rating in a report on Thursday, April 3rd. Finally, Bank of America assumed coverage on shares of California Water Service Group in a report on Wednesday, December 11th. They set a “buy” rating and a $57.00 price objective for the company.

California Water Service Group Trading Down 0.8 %

NYSE CWT opened at $47.13 on Wednesday. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 0.64. The business has a fifty day simple moving average of $46.34 and a 200 day simple moving average of $48.16. California Water Service Group has a 12 month low of $41.64 and a 12 month high of $56.25. The firm has a market capitalization of $2.80 billion, a P/E ratio of 13.62, a PEG ratio of 0.46 and a beta of 0.56.

California Water Service Group (NYSE:CWT) last posted its earnings results on Thursday, February 27th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.05). California Water Service Group had a return on equity of 13.24% and a net margin of 19.56%. The firm had revenue of $222.20 million during the quarter, compared to the consensus estimate of $216.37 million. During the same quarter in the previous year, the company earned $0.52 EPS. On average, analysts predict that California Water Service Group will post 3.15 EPS for the current fiscal year.

California Water Service Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Monday, February 10th were paid 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 was Monday, February 10th. This represents a $1.20 annualized dividend and a yield of 2.55%. California Water Service Group’s dividend payout ratio (DPR) is 36.70%.

California Water Service Group 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.