Deutsche Bank AG Purchases 16,786 Shares of California Water Service Group (NYSE:CWT)

Deutsche Bank AG raised its position in shares of California Water Service Group (NYSE:CWT) by 16.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 119,904 shares of the utilities provider’s stock after buying an additional 16,786 shares during the period. Deutsche Bank AG owned about 0.20% of California Water Service Group worth $5,435,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of California Water Service Group during the fourth quarter valued at about $37,998,000. Vanguard Group Inc. raised its position in California Water Service Group by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 7,514,709 shares of the utilities provider’s stock valued at $340,642,000 after purchasing an additional 158,295 shares during the last quarter. JPMorgan Chase & Co. raised its position in California Water Service Group by 91.0% during the 4th quarter. JPMorgan Chase & Co. now owns 308,704 shares of the utilities provider’s stock valued at $13,994,000 after purchasing an additional 147,043 shares during the last quarter. Northern Trust Corp lifted its holdings in California Water Service Group by 13.1% in the 4th quarter. Northern Trust Corp now owns 979,138 shares of the utilities provider’s stock worth $44,384,000 after buying an additional 113,622 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of California Water Service Group by 21.2% in the 4th quarter. Bank of New York Mellon Corp now owns 634,179 shares of the utilities provider’s stock worth $28,747,000 after buying an additional 110,962 shares during the last quarter. Institutional investors own 82.78% of the company’s stock.

California Water Service Group Price Performance

CWT opened at $47.69 on Monday. 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 company has a market cap of $2.84 billion, a price-to-earnings ratio of 13.78, a price-to-earnings-growth ratio of 0.46 and a beta of 0.70. The stock has a fifty day simple moving average of $48.36 and a two-hundred day simple moving average of $47.43. California Water Service Group has a 12-month low of $41.64 and a 12-month high of $56.25.

California Water Service Group (NYSE:CWT) last issued its quarterly earnings results on Thursday, May 1st. The utilities provider reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.06. California Water Service Group had a net margin of 19.56% and a return on equity of 13.24%. The company had revenue of $203.97 million during the quarter, compared to analyst estimates of $194.80 million. During the same period last year, the business earned $1.21 EPS. California Water Service Group’s quarterly revenue was down 24.7% compared to the same quarter last year. Research analysts predict that California Water Service Group will post 3.15 earnings per share for the current fiscal year.

California Water Service Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 12th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend is Monday, May 12th. California Water Service Group’s dividend payout ratio is 52.63%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CWT. Seaport Res Ptn upgraded shares of California Water Service Group from a “hold” rating to a “strong-buy” rating in a report on Friday, April 11th. Wells Fargo & Company increased their price target on shares of California Water Service Group from $54.00 to $59.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. Finally, StockNews.com raised California Water Service Group from a “sell” rating to a “hold” rating in a research report on Friday, April 11th.

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.