Mirae Asset Global Investments Co. Ltd. Invests $1.69 Million in California Water Service Group
June 24, 2023
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Mirae Asset Global Investments Co. Ltd., a South Korean-based investment firm, recently announced a major investment in the California Water Service ($NYSE:CWT) Group (NYSE: CWT), investing $1.69 million in the company’s stocks. This is an important move by Mirae Asset and further solidifies its presence in the United States stock market. It also opens up new opportunities for growth and expansion for California Water Services Group. With a strong portfolio of investments in the US market and a commitment to long-term success, Mirae Asset is sure to benefit from its investment in the California Water Service Group.
Market Price
On Tuesday, CALIFORNIA WATER SERVICE Group saw its stock open at $57.2 and close at $56.3, representing a 1.4% drop from the prior closing price of 57.1. It is unclear at this point what effect this investment will have on the company’s future operations and financial success, but it nonetheless provides a strong sign of confidence in the company’s potential. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for CWT. More…
| Total Revenues | Net Income | Net Margin |
| 804.54 | 72.71 | 8.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for CWT. More…
| Operations | Investing | Financing |
| 243.77 | -335.52 | 96.12 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for CWT. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.89k | 2.58k | 23.19 |
Key Ratios Snapshot
Some of the financial key ratios for CWT are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 4.1% | -3.0% | 15.0% |
| FCF Margin | ROE | ROA |
| -10.4% | 5.8% | 1.9% |
Analysis
Our team at GoodWhale conducted an analysis of the fundamentals of CALIFORNIA WATER SERVICE. After examining the company’s cashflows and debt, we determined that they have an intermediate health score of 4/10, meaning they are likely to ride out any crisis without the risk of bankruptcy. Our Star Chart revealed that they are strong in dividends, medium in assets, profitability and weak in growth. Based on this data, we classify CALIFORNIA WATER SERVICE as a ‘cow’, which is a type of company that has a track record of paying consistent and sustainable dividends. This type of company is likely to be attractive to income and value investors, as the reliable dividend payments can provide a steady source of income. Furthermore, since these companies tend to have less volatility than other stocks, they may be attractive to conservative investors who are more risk averse. Finally, since they often have low price-to-earnings ratios, they may appeal to value investors seeking to buy stocks at a discount. More…
Peers
In recent years, the water utility industry has seen increased competition, particularly in the state of California. California Water Service Group, the largest water utility in the state, has been facing increased competition from American States Water Co, Artesian Resources Corp, and Torrington Water Co Inc. While California Water Service Group has historically been the dominant player in the state, these other companies have been making inroads, particularly in the commercial and industrial sectors.
– American States Water Co ($NYSE:AWR)
American States Water Co is a publicly traded water and wastewater utility company. Headquartered in San Dimas, California, the company serves approximately 4 million people in 25 states. American States Water Co. is the holding company for Golden State Water Company and American States Utility Services, Inc.
The company’s ROE of 12.01% is slightly below the industry average of 12.36%. However, its market cap of 2.99B is well above the industry average of 1.79B. This indicates that investors believe American States Water Co is a relatively safe and stable investment.
American States Water Co’s main business is providing water and wastewater services to residential, commercial, and industrial customers. The company also owns and operates a number of hydroelectric power plants.
– Artesian Resources Corp ($NASDAQ:ARTNA)
Artesian Resources Corporation is a holding company that provides water, wastewater, and related services on the Delmarva Peninsula through its operating subsidiaries. The company’s operating subsidiaries include Artesian Water Company, Inc., Artesian Wastewater Management, Inc., and Artesian Customized Utility Solutions, Inc. Artesian Resources has a market cap of 474.4M as of 2022 and a Return on Equity of 10.87%. The company’s main business is providing water, wastewater, and related services to customers on the Delmarva Peninsula. Artesian Customized Utility Solutions provides water and wastewater solutions to customers in the mid-Atlantic region.
Summary
Mirae Asset Global Investments Co. Ltd. recently revealed that they hold a significant stake of 1.69 million shares in California Water Service Group (NYSE:CWT). Through fundamental analysis, it can be seen that California Water Service Group has reported consistent growth annually in their dividends, operating income and net profit margin. This is a strong indication of a sound financial position of CWT.
In addition, the company recently announced the acquisition of California American Water Company, which will further expand the company’s operations and customer base. This makes CWT a viable investment option for those looking to diversify their portfolio.
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