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

Shares of California Water Service Group (NYSE:CWT - Get Free Report) hit a new 52-week low on Tuesday . The company traded as low as $41.64 and last traded at $42.21, with a volume of 425244 shares changing hands. The stock had previously closed at $41.88.

Wall Street Analysts Forecast Growth

CWT has been the subject of several recent research reports. Wells Fargo & Company raised shares of California Water Service Group from an "equal weight" rating to an "overweight" rating and dropped their price objective for the stock from $56.00 to $52.00 in a research report on Tuesday, January 7th. Bank of America initiated coverage on California Water Service Group in a research report on Wednesday, December 11th. They issued a "buy" rating and a $57.00 target price for the company. Finally, StockNews.com raised shares of California Water Service Group from a "sell" rating to a "hold" rating in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $53.25.

California Water Service Group Trading Up 1.3 %

The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 0.36 and a beta of 0.50. 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 firm has a 50-day moving average of $48.21 and a 200 day moving average of $51.17.

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). California Water Service Group had a net margin of 19.56% and a return on equity of 13.24%. The firm had revenue of $299.60 million during the quarter, compared to analyst estimates of $289.55 million. During the same quarter last year, the company earned $0.60 EPS. The company's quarterly revenue was up 17.5% compared to the same quarter last year. As a group, equities analysts predict that California Water Service Group will post 3.16 EPS for the current fiscal year.

California Water Service Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Tuesday, November 12th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date was Tuesday, November 12th. California Water Service Group's dividend payout ratio (DPR) is 32.37%.

Insider Activity at California Water Service Group

In other 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 directly owns 20,354 shares in the company, 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 document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.73% of the company's stock.

Institutional Trading of California Water Service Group

A number of hedge funds have recently bought and sold shares of CWT. Blue Trust Inc. increased its holdings 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 increased its stake in shares of California Water Service Group by 50.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,236 shares of the utilities provider's stock valued at $67,000 after buying an additional 413 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in California Water Service Group during the 2nd quarter worth about $85,000. nVerses Capital LLC bought a new stake in shares of California Water Service Group during the third quarter worth approximately $119,000. Finally, CWM LLC lifted its stake 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 purchasing an additional 1,741 shares during the period. 82.78% of the stock is owned by institutional investors.

About California Water Service Group

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.