Sand Hill Global Advisors LLC Buys Shares of 8,000 California Water Service Group Holding (CWT)

Sand Hill Global Advisors LLC purchased a new stake in shares of California Water Service Group Holding (NYSE:CWT) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 8,000 shares of the utilities provider’s stock, valued at approximately $294,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. LS Investment Advisors LLC grew its holdings in California Water Service Group Holding by 62.5% during the 1st quarter. LS Investment Advisors LLC now owns 2,782 shares of the utilities provider’s stock valued at $100,000 after purchasing an additional 1,070 shares in the last quarter. Accurate Investment Solutions Inc. boosted its stake in California Water Service Group Holding by 0.3% during the 2nd quarter. Accurate Investment Solutions Inc. now owns 2,917 shares of the utilities provider’s stock valued at $107,000 after acquiring an additional 8 shares during the last quarter. Ameritas Investment Partners Inc. bought a new position in California Water Service Group Holding during the 1st quarter valued at $149,000. PNC Financial Services Group Inc. boosted its stake in California Water Service Group Holding by 5.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,575 shares of the utilities provider’s stock valued at $164,000 after acquiring an additional 225 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in California Water Service Group Holding by 1.9% during the 1st quarter. State of Alaska Department of Revenue now owns 5,290 shares of the utilities provider’s stock valued at $189,000 after acquiring an additional 100 shares during the last quarter. 68.69% of the stock is owned by institutional investors and hedge funds.

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In related news, VP Lynne P. Mcghee sold 1,079 shares of the business’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $36.94, for a total transaction of $39,858.26. Following the sale, the vice president now directly owns 18,581 shares in the company, valued at approximately $686,382.14. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Lynne P. Mcghee sold 1,605 shares of the business’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $37.61, for a total value of $60,364.05. Following the sale, the vice president now owns 19,660 shares in the company, valued at $739,412.60. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Shares of California Water Service Group Holding (CWT) opened at 38.05 on Friday. California Water Service Group Holding has a 12-month low of $29.25 and a 12-month high of $39.65. The company’s 50 day moving average is $37.63 and its 200 day moving average is $36.42. The firm has a market capitalization of $1.83 billion, a PE ratio of 31.71 and a beta of 0.70.

California Water Service Group Holding (NYSE:CWT) last released its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.08. California Water Service Group Holding had a return on equity of 8.78% and a net margin of 9.17%. The firm had revenue of $171.10 million during the quarter, compared to the consensus estimate of $162.23 million. During the same quarter in the previous year, the company posted $0.24 earnings per share. The company’s quarterly revenue was up 12.3% on a year-over-year basis. On average, analysts forecast that California Water Service Group Holding will post $1.31 earnings per share for the current year.

A number of research firms have commented on CWT. Barclays PLC increased their price objective on shares of California Water Service Group Holding from $30.00 to $32.00 and gave the company an “underweight” rating in a research note on Friday. Robert W. Baird reiterated a “hold” rating and issued a $35.00 price objective on shares of California Water Service Group Holding in a research report on Sunday, September 3rd. Zacks Investment Research downgraded shares of California Water Service Group Holding from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. BidaskClub cut shares of California Water Service Group Holding from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Finally, US Capital Advisors reaffirmed a “hold” rating on shares of California Water Service Group Holding in a research note on Monday, July 17th. Two equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $35.60.

About California Water Service Group Holding

California Water Service Group is a holding company. The Company operates through the supply and distribution of water and providing water-related utility services segment. The Company, through its subsidiaries, provides non-regulated services and non-regulated services to private companies and municipalities.

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

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