California Water Service Group (NYSE:CWT) insider Elissa Y. Ouyang sold 1,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $54.03, for a total transaction of $54,030.00. Following the completion of the sale, the insider now directly owns 3,680 shares of the company’s stock, valued at $198,830.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
CWT stock traded up $0.20 during mid-day trading on Friday, reaching $53.89. 427,975 shares of the stock traded hands, compared to its average volume of 194,703. The company has a current ratio of 0.59, a quick ratio of 0.57 and a debt-to-equity ratio of 0.97. California Water Service Group has a 52-week low of $35.60 and a 52-week high of $54.53. The firm has a market capitalization of $2.59 billion, a PE ratio of 39.63, a P/E/G ratio of 5.50 and a beta of 0.40.
California Water Service Group (NYSE:CWT) last posted its quarterly earnings data on Thursday, February 28th. The utilities provider reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. The company had revenue of $167.42 million during the quarter, compared to analyst estimates of $163.45 million. California Water Service Group had a net margin of 8.71% and a return on equity of 8.58%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.31 earnings per share. On average, equities research analysts anticipate that California Water Service Group will post 1.4 earnings per share for the current year.
Institutional investors and hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN increased its holdings in shares of California Water Service Group by 3.1% in the 3rd quarter. Wells Fargo & Company MN now owns 121,413 shares of the utilities provider’s stock valued at $5,208,000 after purchasing an additional 3,595 shares during the period. FMR LLC acquired a new position in California Water Service Group in the third quarter worth approximately $110,000. Vanguard Group Inc. increased its holdings in California Water Service Group by 2.3% in the third quarter. Vanguard Group Inc. now owns 5,337,436 shares of the utilities provider’s stock worth $228,976,000 after buying an additional 118,398 shares during the last quarter. Legal & General Group Plc increased its holdings in California Water Service Group by 3.2% in the third quarter. Legal & General Group Plc now owns 298,133 shares of the utilities provider’s stock worth $12,745,000 after buying an additional 9,108 shares during the last quarter. Finally, Arjuna Capital increased its holdings in California Water Service Group by 5.2% in the fourth quarter. Arjuna Capital now owns 5,217 shares of the utilities provider’s stock worth $249,000 after buying an additional 260 shares during the last quarter. Institutional investors own 73.15% of the company’s stock.
A number of research firms have commented on CWT. Robert W. Baird raised shares of California Water Service Group from a “neutral” rating to an “outperform” rating and set a $50.00 price objective for the company in a research note on Thursday, December 6th. Zacks Investment Research raised shares of California Water Service Group from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research note on Thursday, January 3rd. ValuEngine raised shares of California Water Service Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 12th. Finally, Wells Fargo & Co upped their price objective on shares of California Water Service Group from $45.00 to $49.00 and gave the company a “market perform” rating in a research note on Monday, March 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $45.20.
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About California Water Service Group
California Water Service Group, through its subsidiaries, provides water utility and other related services in California, Washington, New Mexico, and Hawaii. It 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.
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