California Water Service Group (NYSE:CWT) Raised to "Hold" at StockNews.com

California Water Service Group (NYSE:CWT - Get Free Report) was upgraded by research analysts at StockNews.com from a "sell" rating to a "hold" rating in a research report issued on Saturday.

CWT has been the topic of several other research reports. Wells Fargo & Company raised shares of California Water Service Group from an "equal weight" rating to an "overweight" rating and lowered their price target for the company from $56.00 to $52.00 in a report on Tuesday, January 7th. Bank of America started coverage on shares of California Water Service Group in a report on Wednesday, December 11th. They set a "buy" rating and a $57.00 price target on the stock. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $53.25.

California Water Service Group Stock Performance

Shares of CWT stock traded up $2.06 during trading hours on Friday, reaching $45.81. The company had a trading volume of 694,165 shares, compared to its average volume of 378,021. The business has a fifty day moving average price of $45.36 and a 200-day moving average price of $50.25. California Water Service Group has a one year low of $41.64 and a one year high of $56.25. The firm has a market cap of $2.72 billion, a PE ratio of 13.24, a price-to-earnings-growth ratio of 0.45 and a beta of 0.52. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.60 and a current ratio of 0.64.

Insider Buying and Selling at California Water Service Group

In other news, VP Michael B. Luu sold 985 shares of the company'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 transaction, the vice president now directly owns 20,354 shares in the company, valued at approximately $1,048,231. This represents 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 the SEC website. Company insiders own 0.73% of the company's stock.

Institutional Trading of California Water Service Group

A number of hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its position in shares of California Water Service Group by 255.6% during the third 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 last quarter. Parkworth Wealth Management Inc. purchased a new stake in shares of California Water Service Group during the fourth quarter valued at about $50,000. GAMMA Investing LLC lifted its position in shares of California Water Service Group by 50.2% during the third 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 last quarter. Millstone Evans Group LLC purchased a new stake in shares of California Water Service Group during the fourth quarter valued at about $102,000. Finally, nVerses Capital LLC acquired a new position in shares of California Water Service Group during the third quarter valued at about $119,000. 82.78% of the stock is owned by hedge funds and other institutional investors.

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.