Short Interest in California Water Service Group (NYSE:CWT) Expands By 14.3%

California Water Service Group (NYSE:CWT - Get Free Report) was the target of a large growth in short interest in January. As of January 15th, there was short interest totalling 771,900 shares, a growth of 14.3% from the December 31st total of 675,500 shares. Based on an average daily volume of 304,000 shares, the short-interest ratio is presently 2.5 days.

Insider Activity

In other news, VP Michael B. Luu sold 985 shares of the business's 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 of the company's stock, valued at approximately $1,048,231. The trade was a 4.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.73% of the company's stock.

Institutional Trading of California Water Service Group

Several hedge funds have recently modified their holdings of CWT. US Bancorp DE grew its position in shares of California Water Service Group by 9.0% during the 4th quarter. US Bancorp DE now owns 5,816 shares of the utilities provider's stock worth $264,000 after buying an additional 479 shares during the period. Maple Capital Management Inc. acquired a new position in shares of California Water Service Group in the 4th quarter valued at approximately $302,000. Illinois Municipal Retirement Fund increased its stake in California Water Service Group by 5.2% during the 4th quarter. Illinois Municipal Retirement Fund now owns 32,603 shares of the utilities provider's stock worth $1,478,000 after purchasing an additional 1,608 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in California Water Service Group by 21.2% during the 4th quarter. Bank of New York Mellon Corp now owns 634,179 shares of the utilities provider's stock worth $28,747,000 after buying an additional 110,962 shares during the period. Finally, Y Intercept Hong Kong Ltd lifted its stake in California Water Service Group by 207.8% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 13,554 shares of the utilities provider's stock valued at $614,000 after buying an additional 9,151 shares in the last quarter. 82.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

CWT has been the subject of several recent analyst reports. StockNews.com cut shares of California Water Service Group from a "hold" rating to a "sell" rating in a research report on Friday, January 31st. Bank of America started coverage on shares of California Water Service Group in a report on Wednesday, December 11th. They issued a "buy" rating and a $57.00 target price on the stock. Finally, Wells Fargo & Company raised California Water Service Group from an "equal weight" rating to an "overweight" rating and reduced their target price for the company from $56.00 to $52.00 in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $53.25.

California Water Service Group Price Performance

NYSE CWT traded down $0.15 on Wednesday, reaching $44.53. The company's stock had a trading volume of 260,555 shares, compared to its average volume of 359,664. California Water Service Group has a 52 week low of $41.64 and a 52 week high of $56.25. 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 business has a 50-day moving average price of $45.99 and a 200 day moving average price of $50.53. The firm has a market cap of $2.65 billion, a PE ratio of 12.87, a price-to-earnings-growth ratio of 0.46 and a beta of 0.52.

California Water Service Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Monday, February 10th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.69%. The ex-dividend date is Monday, February 10th. This is a boost from California Water Service Group's previous quarterly dividend of $0.28. California Water Service Group's dividend payout ratio is presently 32.37%.

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.