Analysts Set California Water Service Group (NYSE:CWT) Price Target at $54.50

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

A number of research analysts have weighed in on CWT shares. StockNews.com cut shares of California Water Service Group from a "hold" rating to a "sell" rating in a research report on Friday, December 13th. Bank of America initiated coverage on shares of California Water Service Group in a research report on Wednesday, December 11th. They issued a "buy" rating and a $57.00 price objective on the stock.

California Water Service Group Trading Up 0.0 %

Shares of NYSE:CWT traded up $0.01 during trading on Friday, reaching $44.78. The company's stock had a trading volume of 198,503 shares, compared to its average volume of 195,352. The firm's 50 day simple moving average is $49.16 and its two-hundred day simple moving average is $51.39. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 0.64. California Water Service Group has a 12 month low of $43.50 and a 12 month high of $56.25. The stock has a market capitalization of $2.66 billion, a PE ratio of 12.94 and a beta of 0.52.

California Water Service Group (NYSE:CWT - Get Free Report) last announced its earnings results on Thursday, October 31st. The utilities provider reported $1.03 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 company had revenue of $299.60 million during the quarter, compared to analysts' expectations of $289.55 million. During the same quarter last year, the firm posted $0.60 EPS. California Water Service Group's revenue for the quarter was up 17.5% compared to the same quarter last year. On average, research analysts predict that California Water Service Group will post 3.29 EPS for the current fiscal year.

California Water Service Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Tuesday, November 12th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend was Tuesday, November 12th. California Water Service Group's dividend payout ratio is presently 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 California Water Service Group stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $51.50, for a total transaction of $50,727.50. Following the completion of the sale, the vice president now directly owns 20,354 shares of the company's stock, valued at $1,048,231. The trade was a 4.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.73% of the stock is owned by corporate insiders.

Institutional Trading of California Water Service Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC increased its position in California Water Service Group by 70.5% during the 3rd quarter. FMR LLC now owns 63,625 shares of the utilities provider's stock valued at $3,450,000 after purchasing an additional 26,299 shares during the period. Quest Partners LLC increased its holdings in California Water Service Group by 297.1% during the third quarter. Quest Partners LLC now owns 22,676 shares of the utilities provider's stock valued at $1,229,000 after buying an additional 16,966 shares during the period. Intech Investment Management LLC bought a new position in California Water Service Group in the third quarter worth approximately $585,000. Charles Schwab Investment Management Inc. raised its stake 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 worth $38,548,000 after buying an additional 48,055 shares in the last quarter. Finally, Entropy Technologies LP purchased a new stake in California Water Service Group during the third quarter worth $588,000. 82.78% of the stock is currently 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.