Free Trial

California Water Service Group (NYSE:CWT) Downgraded by StockNews.com to Sell

California Water Service Group logo with Utilities background

California Water Service Group (NYSE:CWT - Get Free Report) was downgraded by research analysts at StockNews.com from a "hold" rating to a "sell" rating in a research report issued on Friday.

Separately, 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $54.50.

Read Our Latest Stock Analysis on CWT

California Water Service Group Trading Up 0.1 %

Shares of NYSE CWT traded up $0.07 during midday trading on Friday, hitting $48.51. The stock had a trading volume of 166,694 shares, compared to its average volume of 324,107. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.64 and a quick ratio of 0.60. California Water Service Group has a fifty-two week low of $43.50 and a fifty-two week high of $56.25. The firm has a market cap of $2.88 billion, a P/E ratio of 14.02 and a beta of 0.50. The company's 50-day simple moving average is $51.21 and its 200 day simple moving average is $51.61.

California Water Service Group (NYSE:CWT - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $289.55 million. California Water Service Group had a return on equity of 13.24% and a net margin of 19.56%. The business's revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.60 earnings per share. Research analysts anticipate that California Water Service Group will post 3.29 EPS for the current year.

Insider Buying and Selling at California Water Service Group

In other California Water Service Group news, VP Michael B. Luu sold 985 shares of the business's 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 completion of the transaction, the vice president now directly owns 20,354 shares of the company's stock, 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 Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.73% of the company's stock.

Hedge Funds Weigh In On California Water Service Group

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

California Water Service Group Company Profile

(Get Free Report)

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.

Featured Articles

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Should you invest $1,000 in California Water Service Group right now?

Before you consider California Water Service Group, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and California Water Service Group wasn't on the list.

While California Water Service Group currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Elon Musk's Next Move Cover

Wondering when you'll finally be able to invest in SpaceX, StarLink, or The Boring Company? Click the link below to learn when Elon Musk will let these companies finally IPO.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

3 High Short Interest Stocks You Need to Watch

3 High Short Interest Stocks You Need to Watch

Learn how to navigate high short-interest stocks and identify the best entry points for your portfolio. Check out these 3 high short interest stocks to watch.

Recent Videos

Broadcom Hits $1 Trillion – Can This AI Powerhouse Go Higher?
SoundHound Stock Explodes Again – Is a Major Breakout Coming?
How Fintech Strategy at FinWise Bancorp and CEO Vision Are Driving 78% Gains

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines