CALIFORNIA WATER SERVICE GROUP
In the published model solve dated 2026-Q2, anchored at $50.03, CALIFORNIA WATER SERVICE GROUP (CWT) is priced for +1.5% growth. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 25, 2026 from SEC EDGAR filings.
• Cal Water does not compete for customers; it earns an authorized return on the pipes, pumps and treatment plants a commission lets it put into rate base, which makes approved capital spending, not sales growth, the engine of the business. • Regulatory timing is the volatility: the FY2025 annual report records earnings per share falling ⟦from $3.25 to $2.15, or 33.8%, in 2025⟧, on a 36.7 million dollar decline in operating revenue that included 12.7 million of lower customer usage and the cumu
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326 institutional managers reported holding CWT in 13F filings for the quarter ended 2026-03-31. Together they hold about 86% of the company; the top 10 hold 58%. 38 opened new positions that quarter. Held by BlackRock, Vanguard Group, State Street, among others. On the short side, 1.8M shares were sold short as of the 2026-06-15 count, about 3% of shares outstanding (3.3 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
CWT's share count grew 16.9% over the past five years even with $7.79M spent on repurchases. It pays a dividend, and has paid one every year in our records (17 and counting), raised 16 years straight; the current rate is $1.24 a share annually. Cash returned over the past three years: $189.30M in dividends and $3.88M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at CWT over the trailing three years: 2025: 1 buy totaling $24k. 25 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
CWT's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-07-28 | -1.3% | -9.1% |
| 2023-10-27 | +4.5% | +6.8% |
| 2024-03-01 | -0.7% | +10.9% |
| 2024-04-26 | +3.0% | +1.1% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
CWT's latest 8-K filings: 2026-07-30 (items 2.02, 9.01); 2026-07-29 (items 8.01, 9.01); 2026-05-21 (items 5.07); 2026-05-20 (items 7.01, 9.01); 2026-05-01 (items 8.01, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 25, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.