California Water Service Group (NYSE:CWT) Reaches New 1-Year Low - What's Next?

California Water Service Group (NYSE:CWT - Get Free Report) shares hit a new 52-week low during trading on Wednesday . The stock traded as low as $43.44 and last traded at $43.71, with a volume of 32514 shares traded. The stock had previously closed at $44.36.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. StockNews.com cut California Water Service Group from a "hold" rating to a "sell" rating in a report on Friday, December 13th. Bank of America began coverage on California Water Service Group in a research note on Wednesday, December 11th. They issued a "buy" rating and a $57.00 target price for the company. Finally, Wells Fargo & Company raised California Water Service Group from an "equal weight" rating to an "overweight" rating and cut their price target for the company from $56.00 to $52.00 in a report on Tuesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, California Water Service Group presently has an average rating of "Hold" and an average target price of $53.25.

California Water Service Group Trading Down 2.5 %

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 has a market cap of $2.57 billion, a P/E ratio of 12.50 and a beta of 0.52. The business has a 50-day moving average price of $48.86 and a two-hundred day moving average price of $51.33.

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. On average, analysts predict that California Water Service Group will post 3.29 EPS for the current year.

California Water Service Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Tuesday, November 12th were paid a $0.28 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $1.12 dividend on an annualized basis and a yield of 2.59%. California Water Service Group's payout ratio is presently 32.37%.

Insiders Place Their Bets

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 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 represents a 4.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.73% of the company's stock.

Hedge Funds Weigh In On California Water Service Group

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

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.