According to the most recent SEC filing, the State of New Jersey Common Pension Fund D sold 4.9% of its holdings in California Water Service Group (NYSE: CWT) during the third quarter. Following the sale of 2,050 shares throughout the period, the fund ultimately wound up with an ownership stake in the stock of the utility provider equal to 39,801 shares. According to the most recent filing with the SEC, the State of New Jersey Common Pension Fund D possesses an ownership interest in approximately 0.07% of California Water Service Group, which is currently valued at $2,097,000.
Several other large investors have recently adjusted how they hold CWT shares. JPMorgan Chase & Co. increased the amount of California Water Service Group stock owned by 45.7% over the first three months of 2018. By purchasing an additional 33,634 of those shares during the most recent quarter, JPMorgan Chase & Co. was able to increase its holdings in the stock of the utility provider by 107,210 shares, bringing the total number of shares it owned to a total of 333,634. The current value of the holdings that JPMorgan Chase & Co. has in the stock of the utility provider is $6,356,000, according to the market. During the first three months of 2018, HighTower Advisors LLC completed a 5.5% increase in the amount of California Water Service Group stock held in its portfolio. HighTower Advisors LLC now has 7,158 shares of the utility provider’s stock following purchasing 373 additional shares during the most recent quarter. Each share of this utility’s stock is currently worth $7.158. In the first three months of 2018, Cetera Advisor Networks LLC saw a 47.4 percent increase in the value of its holdings in California Water Service Group. During the most recent quarter, Cetera Advisor Networks LLC increased its holdings in the stock of the utility provider by 1,401 shares, bringing the total number of shares owned in the company to 4,358 with a market value of $258,000. During the first three months of 2018, Citigroup Inc. increased the percentage of California Water Service Group shares that it owned by 29.3 percent. As a result of the purchase of an additional 12,226 shares during the most recent fiscal quarter, Citigroup Inc. now owns a total of 54,021 shares of the utility service provider’s stock, which has a market value of $3,203,000.
Last but not least, PNC Financial Services Group Inc. increased its stake in California Water Service Group by 10.4% during the first quarter. This was the company’s first quarterly increase in its holdings in the company. After making a new purchase of 758 shares during the most recent fiscal quarter, PNC Financial Services Group Inc. now has a total of 8,042 shares of the stock held by the utility provider. Based on the current market price, these shares are worth a combined sum of $477,000. At this point, institutional investors and hedge funds own 79.01% of the company’s stock.
Recently, several people who follow the market have been concentrating their attention on CWT stock in particular. Wells Fargo & Company disclosed in a report distributed on Wednesday, December 14, that they had increased their price objective on shares of California Water Service Group to $63.00. When UBS Group initially began providing coverage for California Water Service Group shares, it was a Wednesday, November 30. They assigned a rating of “neutral” to the company and determined that the price target should be $67.0. The alteration