Citigroup Inc. lifted its stake in California Water Service Group (NYSE:CWT) by 140.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 32,951 shares of the utilities provider’s stock after buying an additional 19,239 shares during the period. Citigroup Inc.’s holdings in California Water Service Group were worth $1,571,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the company. Advisors Asset Management Inc. boosted its holdings in shares of California Water Service Group by 47.5% in the 4th quarter. Advisors Asset Management Inc. now owns 649 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 209 shares during the period. Arjuna Capital boosted its holdings in shares of California Water Service Group by 5.2% in the 4th quarter. Arjuna Capital now owns 5,217 shares of the utilities provider’s stock worth $249,000 after purchasing an additional 260 shares during the period. CENTRAL TRUST Co boosted its holdings in shares of California Water Service Group by 100.0% in the 4th quarter. CENTRAL TRUST Co now owns 608 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 304 shares during the period. Comerica Bank boosted its holdings in shares of California Water Service Group by 0.5% in the 4th quarter. Comerica Bank now owns 60,796 shares of the utilities provider’s stock worth $2,815,000 after purchasing an additional 312 shares during the period. Finally, Piedmont Investment Advisors Inc. boosted its holdings in shares of California Water Service Group by 3.3% in the 4th quarter. Piedmont Investment Advisors Inc. now owns 11,438 shares of the utilities provider’s stock worth $545,000 after purchasing an additional 366 shares during the period. Hedge funds and other institutional investors own 73.15% of the company’s stock.

In related news, insider Elissa Y. Ouyang sold 1,000 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $54.03, for a total transaction of $54,030.00. Following the completion of the transaction, the insider now owns 3,680 shares in the company, valued at approximately $198,830.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 2,199 shares of company stock valued at $115,720. 1.00% of the stock is owned by company insiders.

CWT opened at $53.69 on Friday. California Water Service Group has a 52-week low of $35.60 and a 52-week high of $54.53. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.59 and a quick ratio of 0.57. The firm has a market cap of $2.59 billion, a P/E ratio of 39.48, a price-to-earnings-growth ratio of 5.50 and a beta of 0.40.

California Water Service Group (NYSE:CWT) last posted its quarterly earnings data on Thursday, February 28th. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.04. California Water Service Group had a return on equity of 8.58% and a net margin of 8.71%. The company had revenue of $167.42 million during the quarter, compared to analysts’ expectations of $163.45 million. During the same quarter in the previous year, the business earned $0.31 EPS. California Water Service Group’s revenue was up 1.9% compared to the same quarter last year. As a group, research analysts forecast that California Water Service Group will post 1.4 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 22nd. Investors of record on Monday, February 11th were issued a dividend of $0.1975 per share. The ex-dividend date of this dividend was Friday, February 8th. This represents a $0.79 dividend on an annualized basis and a yield of 1.47%. This is a boost from California Water Service Group’s previous quarterly dividend of $0.19. California Water Service Group’s payout ratio is presently 58.09%.

A number of equities analysts have recently commented on the company. Zacks Investment Research cut California Water Service Group from a “hold” rating to a “sell” rating in a report on Monday, February 11th. ValuEngine upgraded California Water Service Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 12th. Robert W. Baird upgraded California Water Service Group from a “neutral” rating to an “outperform” rating and set a $50.00 target price for the company in a report on Thursday, December 6th. Finally, Wells Fargo & Co lifted their target price on California Water Service Group from $45.00 to $49.00 and gave the stock a “market perform” rating in a report on Monday, March 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $45.20.

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About California Water Service Group

California Water Service Group, through its subsidiaries, provides water utility and other related services in California, Washington, New Mexico, and Hawaii. It 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.

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

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