California Water Service Group (NYSE:CWT – Get Free Report) was upgraded by research analysts at Freedom Broker to a “hold” rating in a note issued to investors on Wednesday, Zacks reports.
CWT has been the topic of a number of other research reports. Seaport Research Partners reaffirmed a “buy” rating and issued a $53.00 price target on shares of California Water Service Group in a research report on Wednesday, August 12th. Weiss Ratings raised California Water Service Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 4th. Finally, Wall Street Zen upgraded shares of California Water Service Group from a “sell” rating to a “hold” rating in a research note on Saturday, July 18th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $54.00.
Check Out Our Latest Stock Report on California Water Service Group
California Water Service Group Price Performance
California Water Service Group (NYSE:CWT – Get Free Report) last posted its earnings results on Thursday, July 30th. The utilities provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.13. The firm had revenue of $308.60 million during the quarter, compared to analysts’ expectations of $283.50 million. California Water Service Group had a net margin of 12.63% and a return on equity of 7.74%. The business’s revenue was up 16.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.71 EPS. Research analysts expect that California Water Service Group will post 2.57 EPS for the current year.
Insider Buying and Selling
In related news, Director Lester A. Snow sold 500 shares of California Water Service Group stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $50.21, for a total value of $25,105.00. Following the completion of the sale, the director owned 17,817 shares of the company’s stock, valued at approximately $894,591.57. The trade was a 2.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas M. Krummel sold 3,700 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $50.37, for a total transaction of $186,369.00. Following the completion of the sale, the director owned 20,104 shares of the company’s stock, valued at $1,012,638.48. The trade was a 15.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.78% of the company’s stock.
Institutional Investors Weigh In On California Water Service Group
A number of institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new position in California Water Service Group during the 2nd quarter worth $523,255,000. Amundi lifted its holdings in California Water Service Group by 0.5% during the 2nd quarter. Amundi now owns 3,486,859 shares of the utilities provider’s stock worth $169,741,000 after buying an additional 15,862 shares during the period. Nuance Investments LLC grew its position in shares of California Water Service Group by 3.5% in the 4th quarter. Nuance Investments LLC now owns 1,825,390 shares of the utilities provider’s stock valued at $79,094,000 after buying an additional 60,931 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of California Water Service Group by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,158,359 shares of the utilities provider’s stock valued at $52,522,000 after buying an additional 4,428 shares during the last quarter. Finally, Legal & General Group Plc acquired a new stake in shares of California Water Service Group in the second quarter valued at about $39,285,000. 82.78% of the stock is owned by institutional investors.
California Water Service Group Company Profile
California Water Service Group (NYSE: CWT) is a water utility holding company that provides regulated water service to residential, commercial, industrial and public-sector customers. Its operating companies collect, treat, test and distribute drinking water through local water systems, while also maintaining the wells, reservoirs, treatment facilities, pipelines and other infrastructure needed to deliver reliable service.
The company operates primarily through California Water Service Company, along with subsidiaries serving customers in Hawaii, New Mexico and Washington.
See Also
- Five stocks we like better than California Water Service Group
- Dave’s Success Has Investors Split
- Hims & Hers Slides Nearly 7% as Legal Pressure Adds to Its Growing List of Risks
- Paychex Plunges, Providing the Entry Investors Have Been Waiting For
- The Case for Buying High-Yield General Mills Just Strengthened
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.
