Todays Report: The Mason Street Advisors LLC Acquires Shares of 9,378 California Water Service Group Holding (CWT)

The Mason Street Advisors LLC Acquires Shares of 9,378 California Water  Service Group Holding (CWT)

Mason Street Advisors LLC acquired a new stake in shares of California Water Service Group Holding (NYSE:CWT) during the second quarter, Holdings Channel reports. The institutional investor acquired 9,378 shares of the company’s stock, valued at approximately $328,000.

Other hedge funds have also recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its stake in shares of California Water Service Group Holding by 6.2% in the second quarter. PNC Financial Services Group Inc. now owns 3,428 shares of the company’s stock valued at $120,000 after buying an additional 200 shares during the last quarter. PineBridge Investments L.P. increased its stake in shares of California Water Service Group Holding by 4.0% in the second quarter. PineBridge Investments L.P. now owns 6,083 shares of the company’s stock valued at $212,000 after buying an additional 234 shares during the last quarter. Profund Advisors LLC increased its stake in shares of California Water Service Group Holding by 1.9% in the second quarter. Profund Advisors LLC now owns 13,017 shares of the company’s stock valued at $455,000 after buying an additional 245 shares during the last quarter. Arizona State Retirement System increased its stake in shares of California Water Service Group Holding by 1.2% in the second quarter. Arizona State Retirement System now owns 24,900 shares of the company’s stock valued at $870,000 after buying an additional 300 shares during the last quarter. Finally, BlackRock Advisors LLC increased its stake in shares of California Water Service Group Holding by 3.0% in the second quarter. BlackRock Advisors LLC now owns 22,613 shares of the company’s stock valued at $790,000 after buying an additional 656 shares during the last quarter. Hedge funds and other institutional investors own 73.31% of the company’s stock.

Shares of California Water Service Group Holding (NYSE:CWT) opened at 30.28 on Friday. The firm has a 50-day moving average of $31.46 and a 200-day moving average of $30.58. The company has a market capitalization of $1.45 billion, a P/E ratio of 32.91 and a beta of 0.54. California Water Service Group Holding has a one year low of $21.01 and a one year high of $35.62.

California Water Service Group Holding (NYSE:CWT) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.24 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.24. California Water Service Group Holding had a net margin of 7.43% and a return on equity of 6.94%. The business had revenue of $152.40 million for the quarter, compared to analyst estimates of $121.55 million. During the same quarter in the prior year, the business posted $0.21 EPS. California Water Service Group Holding’s revenue for the quarter was up 5.5% compared to the same quarter last year. Analysts forecast that California Water Service Group Holding will post $1.04 earnings per share for the current year.

Several brokerages have recently commented on CWT. Barclays PLC decreased their price objective on shares of California Water Service Group Holding from $33.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 6th. Zacks Investment Research upgraded shares of California Water Service Group Holding from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research report on Tuesday, July 12th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. California Water Service Group Holding presently has a consensus rating of “Hold” and an average target price of $30.75.

About California Water Service Group Holding

California Water Service Group is a holding company that provides water utility and other related services in California, Washington, New Mexico and Hawaii through its subsidiaries. It operates through supply and distribution of water, and providing water-related utility services segment. Its business comprises the production, purchase, storage, treatment, testing, distribution and sale of water for domestic, industrial, public and irrigation uses, and for fire protection.

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