California Water Service Group (NYSE:CWT) Given Consensus Rating of “Hold” by Brokerages

California Water Service Group (NYSE:CWTGet Free Report) has been assigned an average rating of “Hold” from the four analysts that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $54.25.

CWT has been the topic of several research reports. UBS Group raised California Water Service Group from a “sell” rating to a “neutral” rating and set a $49.00 price target on the stock in a research note on Thursday, April 4th. TheStreet cut shares of California Water Service Group from a “b-” rating to a “c+” rating in a research report on Wednesday, February 14th. Robert W. Baird increased their price objective on shares of California Water Service Group from $52.00 to $55.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Finally, StockNews.com raised shares of California Water Service Group from a “sell” rating to a “hold” rating in a report on Friday, April 26th.

Get Our Latest Research Report on California Water Service Group

Insiders Place Their Bets

In other news, Director Thomas M. Krummel sold 555 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $53.26, for a total value of $29,559.30. Following the completion of the transaction, the director now owns 23,318 shares of the company’s stock, valued at approximately $1,241,916.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Thomas M. Krummel sold 2,220 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $50.00, for a total transaction of $111,000.00. Following the sale, the director now owns 23,873 shares of the company’s stock, valued at $1,193,650. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Thomas M. Krummel sold 555 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $53.26, for a total value of $29,559.30. Following the completion of the transaction, the director now owns 23,318 shares of the company’s stock, valued at $1,241,916.68. The disclosure for this sale can be found here. Company insiders own 0.73% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Nuance Investments LLC raised its holdings in shares of California Water Service Group by 40.8% during the first quarter. Nuance Investments LLC now owns 3,013,749 shares of the utilities provider’s stock worth $140,079,000 after acquiring an additional 872,865 shares during the period. Norges Bank acquired a new stake in shares of California Water Service Group in the 4th quarter valued at about $28,614,000. Vanguard Group Inc. lifted its holdings in shares of California Water Service Group by 4.0% in the third quarter. Vanguard Group Inc. now owns 7,099,486 shares of the utilities provider’s stock valued at $335,877,000 after purchasing an additional 270,786 shares in the last quarter. Invesco Ltd. boosted its position in shares of California Water Service Group by 28.2% during the third quarter. Invesco Ltd. now owns 1,096,314 shares of the utilities provider’s stock worth $51,867,000 after buying an additional 240,944 shares during the period. Finally, Zimmer Partners LP bought a new position in shares of California Water Service Group during the first quarter worth about $7,957,000. Institutional investors own 82.78% of the company’s stock.

California Water Service Group Trading Down 2.0 %

CWT opened at $48.02 on Thursday. California Water Service Group has a 1-year low of $43.50 and a 1-year high of $58.30. The stock has a market capitalization of $2.77 billion, a PE ratio of 19.21 and a beta of 0.47. The company has a current ratio of 0.56, a quick ratio of 0.52 and a debt-to-equity ratio of 0.72. The firm has a 50-day moving average price of $48.37 and a two-hundred day moving average price of $48.70.

California Water Service Group (NYSE:CWTGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The utilities provider reported $1.21 EPS for the quarter, beating the consensus estimate of $0.21 by $1.00. California Water Service Group had a net margin of 15.42% and a return on equity of 10.09%. The business had revenue of $270.75 million for the quarter, compared to analysts’ expectations of $183.85 million. During the same period in the prior year, the firm earned ($0.40) earnings per share. California Water Service Group’s revenue was up 106.5% compared to the same quarter last year. As a group, equities analysts anticipate that California Water Service Group will post 3.15 earnings per share for the current fiscal year.

California Water Service Group Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Monday, May 6th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.33%. The ex-dividend date was Friday, May 3rd. California Water Service Group’s payout ratio is presently 44.80%.

California Water Service Group Company Profile

(Get Free Report

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.

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