Recent Investment Analysts’ Ratings Changes for California Water Service Group (CWT)

A number of research firms have changed their ratings and price targets for California Water Service Group (NYSE: CWT):

• 12/13/2024 – California Water Service Group was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 12/11/2024 – California Water Service Group is now covered by analysts at Bank of America Co.. They set a “buy” rating and a $57.00 price target on the stock.
• 12/5/2024 – California Water Service Group was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 11/27/2024 – California Water Service Group was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.

California Water Service Group Stock Down 0.9 %

Shares of CWT opened at $47.93 on Wednesday. The firm has a market cap of $2.85 billion, a PE ratio of 13.85 and a beta of 0.50. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 0.64. The company’s fifty day moving average is $51.06 and its two-hundred day moving average is $51.63. California Water Service Group has a fifty-two week low of $43.50 and a fifty-two week high of $56.25.

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

California Water Service Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Tuesday, November 12th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.34%. The ex-dividend date was Tuesday, November 12th. California Water Service Group’s dividend payout ratio is presently 32.37%.

Insider Activity

In other news, VP Michael B. Luu sold 985 shares of California Water Service Group stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $51.50, for a total value of $50,727.50. Following the completion of the transaction, the vice president now owns 20,354 shares in the company, valued at approximately $1,048,231. The trade was a 4.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.73% of the stock is owned by company insiders.

Institutional Investors Weigh In On California Water Service Group

Institutional investors have recently added to or reduced their stakes in the stock. Arizona State Retirement System raised its stake in California Water Service Group by 1.8% in the second quarter. Arizona State Retirement System now owns 16,147 shares of the utilities provider’s stock valued at $783,000 after purchasing an additional 287 shares in the last quarter. Creative Financial Designs Inc. ADV increased its position in California Water Service Group by 2.7% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 12,041 shares of the utilities provider’s stock valued at $653,000 after purchasing an additional 316 shares during the period. Blue Trust Inc. increased its position in shares of California Water Service Group by 255.6% during the third quarter. Blue Trust Inc. now owns 505 shares of the utilities provider’s stock worth $27,000 after buying an additional 363 shares during the period. Glenmede Trust Co. NA grew its position in shares of California Water Service Group by 8.4% during the 3rd quarter. Glenmede Trust Co. NA now owns 5,026 shares of the utilities provider’s stock worth $273,000 after buying an additional 390 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in California Water Service Group by 0.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 64,767 shares of the utilities provider’s stock valued at $3,512,000 after purchasing an additional 407 shares in the last quarter. 82.78% of the stock is owned by institutional investors.

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.