California Water Service Group (NYSE:CWT) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of California Water Service Group (NYSE:CWT) have received an average recommendation of “Moderate Buy” from the four analysts that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $53.25.

CWT has been the subject of several analyst reports. Wells Fargo & Company raised California Water Service Group from an “equal weight” rating to an “overweight” rating and decreased their price objective for the company from $56.00 to $52.00 in a report on Tuesday, January 7th. Bank of America assumed coverage on California Water Service Group in a report on Wednesday, December 11th. They issued a “buy” rating and a $57.00 price target for the company. Finally, StockNews.com raised shares of California Water Service Group from a “sell” rating to a “hold” rating in a research note on Wednesday.

California Water Service Group Price Performance

Shares of NYSE:CWT opened at $41.88 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 0.64. California Water Service Group has a twelve month low of $41.82 and a twelve month high of $56.25. The company’s 50 day moving average is $48.36 and its 200 day moving average is $51.19. The company has a market cap of $2.49 billion, a PE ratio of 12.10 and a beta of 0.52.

California Water Service Group (NYSE:CWT) last issued its earnings results on Thursday, October 31st. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.02). The business had revenue of $299.60 million for the quarter, compared to analysts’ expectations of $289.55 million. California Water Service Group had a return on equity of 13.24% and a net margin of 19.56%. The company’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period last year, the business earned $0.60 EPS. On average, sell-side analysts forecast that California Water Service Group will post 3.29 EPS for the current year.

California Water Service Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Tuesday, November 12th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $1.12 dividend on an annualized basis and a yield of 2.67%. California Water Service Group’s dividend payout ratio is currently 32.37%.

Insider Buying and Selling at California Water Service Group

In other news, VP Michael B. Luu sold 985 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $51.50, for a total transaction of $50,727.50. Following the transaction, the vice president now owns 20,354 shares in the company, valued at $1,048,231. This trade represents a 4.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.73% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On California Water Service Group

A number of large investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its position in shares of California Water Service Group by 255.6% in the third quarter. Blue Trust Inc. now owns 505 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 363 shares during the period. GAMMA Investing LLC increased its stake in California Water Service Group by 50.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,236 shares of the utilities provider’s stock worth $67,000 after buying an additional 413 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in California Water Service Group during the 2nd quarter worth approximately $85,000. nVerses Capital LLC acquired a new position in shares of California Water Service Group during the third quarter valued at approximately $119,000. Finally, CWM LLC lifted its position in shares of California Water Service Group by 129.1% in the third quarter. CWM LLC now owns 3,090 shares of the utilities provider’s stock valued at $168,000 after acquiring an additional 1,741 shares in the last quarter. 82.78% of the stock is currently owned by institutional investors and hedge funds.

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, 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.