Analysts Set California Water Service Group (NYSE:CWT) PT at $54.50

California Water Service Group (NYSE:CWT) has been assigned a consensus recommendation of “Moderate Buy” from the four research firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $53.25.

Several research analysts have commented on the company. Bank of America started coverage on California Water Service Group in a research report on Wednesday, December 11th. They issued a “buy” rating and a $57.00 price objective on the stock. StockNews.com lowered California Water Service Group from a “hold” rating to a “sell” rating in a research report on Friday, December 13th. Finally, Wells Fargo & Company raised shares of California Water Service Group from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $56.00 to $52.00 in a research report on Tuesday.

Insider Transactions at California Water Service Group

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

Institutional Trading of California Water Service Group

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

California Water Service Group Stock Up 0.9 %

California Water Service Group stock opened at $44.35 on Friday. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of 12.82 and a beta of 0.52. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.60 and a current ratio of 0.64. California Water Service Group has a fifty-two week low of $43.50 and a fifty-two week high of $56.25. The stock’s fifty day moving average is $48.86 and its two-hundred day moving average is $51.33.

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). California Water Service Group had a net margin of 19.56% and a return on equity of 13.24%. The company had revenue of $299.60 million during the quarter, compared to analysts’ expectations of $289.55 million. During the same quarter in the prior year, the company earned $0.60 earnings per share. The firm’s revenue was up 17.5% compared to the same quarter last year. Analysts predict that California Water Service Group will post 3.29 EPS for the current fiscal year.

California Water Service Group Dividend Announcement

The company 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. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $1.12 annualized dividend and a yield of 2.53%. California Water Service Group’s dividend payout ratio is currently 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.