California Water Service Group (NYSE:CWT) Short Interest Update

California Water Service Group (NYSE:CWT - Get Free Report) saw a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 646,600 shares, an increase of 58.5% from the October 31st total of 407,900 shares. Based on an average trading volume of 278,000 shares, the short-interest ratio is currently 2.3 days.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of California Water Service Group from a "hold" rating to a "sell" rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, California Water Service Group has an average rating of "Hold" and a consensus target price of $53.67.

Insider Buying and Selling

In other California Water Service Group news, Director Thomas M. Krummel sold 555 shares of the company's stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $55.09, for a total transaction of $30,574.95. Following the transaction, the director now owns 21,951 shares in the company, valued at approximately $1,209,280.59. This represents a 2.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael B. Luu sold 985 shares of the business's stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $51.50, for a total transaction of $50,727.50. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 0.73% of the stock is owned by company insiders.

Institutional Trading of California Water Service Group

A number of large investors have recently made changes to their positions in CWT. Wulff Hansen & CO. boosted 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 buying an additional 1,031,103 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of California Water Service Group during the 2nd quarter worth about $6,823,000. Barclays PLC grew its holdings in California Water Service Group by 135.8% during the 3rd quarter. Barclays PLC now owns 119,645 shares of the utilities provider's stock valued at $6,486,000 after purchasing an additional 68,914 shares during the last quarter. Arjuna Capital purchased a new stake in California Water Service Group in the 3rd quarter worth about $3,724,000. Finally, Marshall Wace LLP lifted its stake in California Water Service Group by 354.9% in the second quarter. Marshall Wace LLP now owns 76,851 shares of the utilities provider's stock worth $3,727,000 after purchasing an additional 59,956 shares during the last quarter. 82.78% of the stock is currently owned by institutional investors.

California Water Service Group Stock Performance

Shares of NYSE:CWT remained flat at $51.19 during mid-day trading on Friday. The company had a trading volume of 153,268 shares, compared to its average volume of 323,789. The business has a 50-day moving average of $52.09 and a 200 day moving average of $51.84. California Water Service Group has a 12 month low of $43.50 and a 12 month high of $56.25. The firm has a market cap of $3.04 billion, a P/E ratio of 14.79 and a beta of 0.49. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.60 and a current ratio of 0.64.

California Water Service Group (NYSE:CWT - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate 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 earned $0.60 earnings per share. The firm's revenue was up 17.5% on a year-over-year basis. Analysts predict that California Water Service Group will post 3.29 earnings per share for the current fiscal year.

California Water Service Group Dividend Announcement

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 was Tuesday, November 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.19%. California Water Service Group's payout ratio is currently 32.37%.

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.