Analysts Set California Water Service Group (NYSE:CWT) Price Target at $53.67

California Water Service Group (NYSE:CWT) has earned an average rating of “Moderate Buy” from the four research firms that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $54.50.

Several equities research analysts recently issued reports on the stock. StockNews.com lowered shares of California Water Service Group from a “hold” rating to a “sell” rating in a report on Friday. Bank of America started coverage on shares of California Water Service Group in a research note on Wednesday. They issued a “buy” rating and a $57.00 price objective on the stock.

Insider Transactions at California Water Service Group

In other news, VP Michael B. Luu sold 985 shares of California Water Service Group stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $51.50, for a total transaction of $50,727.50. Following the sale, the vice president now owns 20,354 shares of the company’s stock, valued at approximately $1,048,231. The trade was a 4.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.73% of the company’s stock.

Institutional Trading of California Water Service Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Wulff Hansen & CO. lifted its position in California Water Service Group by 4,565.4% during the second quarter. Wulff Hansen & CO. now owns 1,053,688 shares of the utilities provider’s stock valued at $51,093,000 after buying an additional 1,031,103 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of California Water Service Group in the 2nd quarter worth about $6,823,000. Barclays PLC lifted its position in California Water Service Group by 135.8% during the 3rd quarter. Barclays PLC now owns 119,645 shares of the utilities provider’s stock valued at $6,486,000 after acquiring an additional 68,914 shares during the period. Arjuna Capital bought a new stake in California Water Service Group during the third quarter worth about $3,724,000. Finally, Marshall Wace LLP increased its stake in shares of California Water Service Group by 354.9% during the second quarter. Marshall Wace LLP now owns 76,851 shares of the utilities provider’s stock valued at $3,727,000 after purchasing an additional 59,956 shares in the last quarter. 82.78% of the stock is currently owned by hedge funds and other institutional investors.

California Water Service Group Stock Up 0.1 %

Shares of CWT stock opened at $48.51 on Wednesday. California Water Service Group has a 52-week low of $43.50 and a 52-week high of $56.25. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.60 and a current ratio of 0.64. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of 14.02 and a beta of 0.50. The firm’s 50-day moving average is $51.21 and its 200-day moving average is $51.61.

California Water Service Group (NYSE:CWT) last issued its quarterly earnings data 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 company had revenue of $299.60 million for the quarter, compared to analyst estimates 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 was up 17.5% on a year-over-year basis. During the same quarter last year, the business earned $0.60 earnings per share. Sell-side analysts predict 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. This represents a $1.12 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date was Tuesday, November 12th. California Water Service Group’s payout ratio is 32.37%.

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.