California Water Service Group (CWT) Director Sells $53,690.00 in Stock

California Water Service Group (NYSE:CWT) Director Lester A. Snow sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $53.69, for a total value of $53,690.00. Following the completion of the transaction, the director now owns 18,195 shares of the company’s stock, valued at $976,889.55. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

NYSE:CWT traded up $0.44 during trading hours on Friday, reaching $54.13. 1,464 shares of the stock were exchanged, compared to its average volume of 189,644. California Water Service Group has a twelve month low of $35.60 and a twelve month high of $54.53. The company has a quick ratio of 0.57, a current ratio of 0.59 and a debt-to-equity ratio of 0.97. The company has a market cap of $2.59 billion, a P/E ratio of 39.78, a price-to-earnings-growth ratio of 5.50 and a beta of 0.40.

California Water Service Group (NYSE:CWT) last released its quarterly earnings results on Thursday, February 28th. The utilities provider reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. California Water Service Group had a return on equity of 8.58% and a net margin of 8.71%. The firm had revenue of $167.42 million during the quarter, compared to the consensus estimate of $163.45 million. During the same quarter in the prior year, the firm posted $0.31 EPS. The business’s revenue was up 1.9% on a year-over-year basis. As a group, analysts anticipate that California Water Service Group will post 1.4 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, February 22nd. Shareholders of record on Monday, February 11th were given a dividend of $0.1975 per share. The ex-dividend date was Friday, February 8th. This represents a $0.79 dividend on an annualized basis and a yield of 1.46%. This is an increase from California Water Service Group’s previous quarterly dividend of $0.19. California Water Service Group’s dividend payout ratio is 58.09%.

A number of large investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. raised its stake in shares of California Water Service Group by 47.5% during the 4th quarter. Advisors Asset Management Inc. now owns 649 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 209 shares in the last quarter. Arjuna Capital raised its stake in shares of California Water Service Group by 5.2% during the 4th quarter. Arjuna Capital now owns 5,217 shares of the utilities provider’s stock worth $249,000 after purchasing an additional 260 shares in the last quarter. Amalgamated Bank raised its stake in shares of California Water Service Group by 4.2% during the 4th quarter. Amalgamated Bank now owns 6,919 shares of the utilities provider’s stock worth $330,000 after purchasing an additional 276 shares in the last quarter. CENTRAL TRUST Co raised its stake in shares of California Water Service Group by 100.0% during the 4th quarter. CENTRAL TRUST Co now owns 608 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 304 shares in the last quarter. Finally, Comerica Bank raised its stake in shares of California Water Service Group by 0.5% during the 4th quarter. Comerica Bank now owns 60,796 shares of the utilities provider’s stock worth $2,815,000 after purchasing an additional 312 shares in the last quarter. 73.15% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts recently issued reports on the company. Zacks Investment Research lowered California Water Service Group from a “hold” rating to a “sell” rating in a research report on Monday, February 11th. ValuEngine upgraded California Water Service Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 12th. Robert W. Baird raised California Water Service Group from a “neutral” rating to an “outperform” rating and set a $50.00 price target for the company in a research report on Thursday, December 6th. Finally, Wells Fargo & Co upped their price target on California Water Service Group from $45.00 to $49.00 and gave the stock a “market perform” rating in a research report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $45.20.

WARNING: This piece was first reported by Stock Observer and is owned by of Stock Observer. If you are reading this piece on another domain, it was illegally copied and reposted in violation of United States and international copyright and trademark legislation. The correct version of this piece can be accessed at https://www.thestockobserver.com/2019/03/15/california-water-service-group-cwt-director-sells-53690-00-in-stock.html.

About California Water Service Group

California Water Service Group, through its subsidiaries, provides water utility and other related services in California, Washington, New Mexico, and Hawaii. It 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.

Recommended Story: Candlestick

Receive News & Ratings for California Water Service Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for California Water Service Group and related companies with MarketBeat.com's FREE daily email newsletter.