California Water Service Group (NYSE:CWT) Receives Average Rating of “Hold” from Brokerages

California Water Service Group (NYSE:CWT) has been given a consensus rating of “Hold” by the six research firms that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $56.33.

Separately, Seaport Global Securities restated a “sell” rating and issued a $55.00 price objective on shares of California Water Service Group in a research note on Thursday, April 22nd.

Shares of NYSE:CWT traded up $0.19 on Thursday, hitting $59.78. The company’s stock had a trading volume of 4,603 shares, compared to its average volume of 242,578. The company’s 50-day moving average price is $57.24. California Water Service Group has a 12 month low of $41.19 and a 12 month high of $61.98. The firm has a market capitalization of $3.04 billion, a P/E ratio of 26.26 and a beta of 0.12. The company has a quick ratio of 0.45, a current ratio of 0.46 and a debt-to-equity ratio of 0.84.

California Water Service Group (NYSE:CWT) last released its earnings results on Thursday, April 29th. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.03). California Water Service Group had a net margin of 13.98% and a return on equity of 12.95%. The business had revenue of $147.74 million during the quarter, compared to analyst estimates of $131.00 million. On average, equities research analysts expect that California Water Service Group will post 1.74 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, May 21st. Shareholders of record on Monday, May 10th were given a $0.23 dividend. The ex-dividend date was Friday, May 7th. This represents a $0.92 annualized dividend and a yield of 1.54%. California Water Service Group’s payout ratio is presently 46.70%.

In other California Water Service Group news, Director Terry Bayer sold 1,554 shares of California Water Service Group stock in a transaction dated Tuesday, June 15th. The stock was sold at an average price of $58.47, for a total transaction of $90,862.38. Following the completion of the transaction, the director now owns 14,692 shares in the company, valued at approximately $859,041.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP David B. Healey sold 500 shares of California Water Service Group stock in a transaction dated Monday, June 7th. The stock was sold at an average price of $57.00, for a total value of $28,500.00. Following the completion of the sale, the vice president now owns 15,755 shares in the company, valued at $898,035. The disclosure for this sale can be found here. Insiders sold a total of 3,315 shares of company stock valued at $193,116 over the last three months. Corporate insiders own 0.96% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its holdings in shares of California Water Service Group by 5.5% in the 1st quarter. BlackRock Inc. now owns 8,708,941 shares of the utilities provider’s stock valued at $490,661,000 after purchasing an additional 455,364 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of California Water Service Group by 2.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,337,599 shares of the utilities provider’s stock valued at $126,300,000 after buying an additional 59,612 shares during the period. Northern Trust Corp boosted its stake in California Water Service Group by 4.8% during the 1st quarter. Northern Trust Corp now owns 849,844 shares of the utilities provider’s stock valued at $47,880,000 after purchasing an additional 38,874 shares during the period. Geode Capital Management LLC lifted its stake in shares of California Water Service Group by 8.9% in the 1st quarter. Geode Capital Management LLC now owns 820,496 shares of the utilities provider’s stock worth $46,226,000 after acquiring an additional 66,786 shares during the period. Finally, Norges Bank bought a new stake in shares of California Water Service Group in the 4th quarter worth approximately $29,083,000. 74.67% of the stock is owned by institutional investors.

California Water Service Group Company Profile

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.

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