Cutter Co Brokerage Lowers stake in California Water Service Group (CWT)

California Water Service Group (CWT) : Cutter Co Brokerage reduced its stake in California Water Service Group by 13.26% during the most recent quarter end. The investment management company now holds a total of 98,048 shares of California Water Service Group which is valued at $3,192,443 after selling 14,983 shares in California Water Service Group , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.California Water Service Group makes up approximately 1.36% of Cutter Co Brokerage’s portfolio.

Other Hedge Funds, Including , Swiss National Bank boosted its stake in CWT in the latest quarter, The investment management firm added 1,500 additional shares and now holds a total of 82,100 shares of California Water Service Group which is valued at $2,673,176.Public Employees Retirement Association Of Colorado reduced its stake in CWT by selling 7,275 shares or 37.28% in the most recent quarter. The Hedge Fund company now holds 12,237 shares of CWT which is valued at $412,754. Monarch Partners Asset Management sold out all of its stake in CWT during the most recent quarter. The investment firm sold 101,737 shares of CWT which is valued $3,363,425.Msi Financial Services Inc boosted its stake in CWT in the latest quarter, The investment management firm added 1 additional shares and now holds a total of 1,443 shares of California Water Service Group which is valued at $47,706.

California Water Service Group closed down -0.58 points or -1.80% at $31.6 with 2,17,290 shares getting traded on Monday. Post opening the session at $32.22, the shares hit an intraday low of $31.49 and an intraday high of $32.29 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, California Water Service Group reported $0.24 EPS for the quarter, based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus estimate of $0.24. The company had revenue of $152.40 million for the quarter, compared to analysts expectations of $146.00 million. The company’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.21 EPS.

California Water Service Group is a holding company. The Company through its wholly owned subsidiaries provides water utility and other related services in California Washington New Mexico and Hawaii. It operates through six operating subsidiaries: California Water Service Company (Cal Water) New Mexico Water Service Company (New Mexico Water) Washington Water Service Company (Washington Water) Hawaii Water Service Company Inc. (Hawaii Water) and CWS Utility Services and HWS Utility Services LLC (collectively Utility Services). Utility Services provides non-regulated services to private companies and municipalities. Its business consists of the production purchase storage treatment testing distribution and sale of water for domestic industrial public and irrigation uses and for fire protection. Its non-regulated services include full water system operation billing and meter reading services.

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