First National Corp MA ADV Makes New $1.01 Million Investment in California Water Service Group (NYSE:CWT)

First National Corp MA ADV acquired a new stake in California Water Service Group (NYSE:CWT) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 22,197 shares of the utilities provider’s stock, valued at approximately $1,006,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. AQR Capital Management LLC acquired a new stake in California Water Service Group in the 2nd quarter worth about $804,000. Millennium Management LLC acquired a new stake in shares of California Water Service Group in the second quarter worth approximately $2,761,000. GAMMA Investing LLC grew its holdings in California Water Service Group by 50.2% in the third quarter. GAMMA Investing LLC now owns 1,236 shares of the utilities provider’s stock valued at $67,000 after purchasing an additional 413 shares during the period. CWM LLC grew its holdings in California Water Service Group by 129.1% in the third quarter. CWM LLC now owns 3,090 shares of the utilities provider’s stock valued at $168,000 after purchasing an additional 1,741 shares during the period. Finally, nVerses Capital LLC acquired a new position in California Water Service Group during the third quarter worth approximately $119,000. 82.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at California Water Service Group

In other news, VP Michael B. Luu sold 985 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $51.50, for a total value of $50,727.50. Following the completion of the transaction, the vice president now directly owns 20,354 shares in the company, valued at approximately $1,048,231. This represents a 4.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.73% of the stock is owned by corporate insiders.

California Water Service Group Trading Down 1.1 %

Shares of CWT opened at $43.86 on Monday. California Water Service Group has a 12 month low of $41.64 and a 12 month high of $56.25. The stock’s 50-day moving average is $45.57 and its two-hundred day moving average is $50.37. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.64 and a quick ratio of 0.60. The stock has a market cap of $2.61 billion, a PE ratio of 12.68, a P/E/G ratio of 0.45 and a beta of 0.52.

California Water Service Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Monday, February 10th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend is Monday, February 10th. This is a boost from California Water Service Group’s previous quarterly dividend of $0.28. California Water Service Group’s dividend payout ratio is currently 32.37%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Wells Fargo & Company raised California Water Service Group from an “equal weight” rating to an “overweight” rating and lowered their price target for the company from $56.00 to $52.00 in a research report on Tuesday, January 7th. StockNews.com upgraded California Water Service Group from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Bank of America initiated coverage on shares of California Water Service Group in a report on Wednesday, December 11th. They issued a “buy” rating and a $57.00 price target on the stock. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $53.25.

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.