California Water Service Group (NYSE:CWT) Receives Average Rating of "Moderate Buy" from Brokerages

Shares of California Water Service Group (NYSE:CWT - Get Free Report) have been given an average recommendation of "Moderate Buy" by the four analysts that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $54.50.

A number of equities research analysts have recently commented on the company. StockNews.com upgraded California Water Service Group from a "sell" rating to a "hold" rating in a research report on Thursday, December 5th. Bank of America began coverage on California Water Service Group in a research report on Wednesday. They set a "buy" rating and a $57.00 price target on the stock.

California Water Service Group Stock Performance

California Water Service Group stock traded up $0.19 during mid-day trading on Wednesday, hitting $48.83. The company had a trading volume of 415,360 shares, compared to its average volume of 325,426. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $2.90 billion, a price-to-earnings ratio of 14.05 and a beta of 0.50. The company's fifty day moving average is $51.49 and its 200-day moving average is $51.66. California Water Service Group has a 12-month low of $43.50 and a 12-month high of $56.25.

California Water Service Group (NYSE:CWT - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.05 by ($0.02). California Water Service Group had a return on equity of 13.24% and a net margin of 19.56%. The firm had revenue of $299.60 million for the quarter, compared to analysts' expectations of $289.55 million. During the same period last year, the company posted $0.60 earnings per share. The business's quarterly revenue was up 17.5% on a year-over-year basis. Equities research analysts predict that California Water Service Group will post 3.29 EPS for the current year.

California Water Service Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders 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 2.29%. California Water Service Group's dividend payout ratio (DPR) is currently 32.37%.

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 stock in a transaction dated 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 sale, the vice president now owns 20,354 shares in the company, valued at approximately $1,048,231. This represents a 4.62 % decrease in their position. 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.

Institutional Investors Weigh In On California Water Service Group

Large investors have recently made changes to their positions in the stock. Geode Capital Management LLC grew its stake in shares of California Water Service Group by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,337,966 shares of the utilities provider's stock valued at $72,559,000 after buying an additional 24,275 shares during the period. Dimensional Fund Advisors LP grew its position in California Water Service Group by 2.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,288,740 shares of the utilities provider's stock worth $62,491,000 after acquiring an additional 25,711 shares during the period. Wulff Hansen & CO. increased its stake 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 worth $51,093,000 after acquiring an additional 1,031,103 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in California Water Service Group by 7.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 710,958 shares of the utilities provider's stock valued at $38,548,000 after purchasing an additional 48,055 shares during the period. Finally, Deprince Race & Zollo Inc. lifted its stake in shares of California Water Service Group by 2.8% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 693,025 shares of the utilities provider's stock valued at $33,605,000 after purchasing an additional 19,118 shares during the last quarter. 82.78% of the stock is currently owned by hedge funds and other institutional investors.

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.