California Water Service Group (NYSE:CWT) VP Lynne P. Mcghee sold 1,000 shares of the company’s stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $36.74, for a total value of $36,740.00. Following the completion of the sale, the vice president now owns 20,179 shares of the company’s stock, valued at approximately $741,376.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
California Water Service Group (CWT) traded up $0.30 during trading hours on Friday, reaching $37.40. The company’s stock had a trading volume of 1,646,093 shares, compared to its average volume of 362,140. California Water Service Group has a 1 year low of $32.75 and a 1 year high of $46.15. The company has a current ratio of 0.46, a quick ratio of 0.45 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $1,795.61, a PE ratio of 26.71, a price-to-earnings-growth ratio of 4.33 and a beta of 0.62.
California Water Service Group (NYSE:CWT) last posted its earnings results on Thursday, March 1st. The utilities provider reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.06. California Water Service Group had a return on equity of 9.97% and a net margin of 10.07%. The firm had revenue of $162.00 million during the quarter, compared to analysts’ expectations of $155.89 million. During the same period in the previous year, the firm earned $0.31 earnings per share. The company’s revenue was up 7.4% on a year-over-year basis. equities analysts expect that California Water Service Group will post 1.44 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Monday, February 12th were paid a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 2.01%. This is a boost from California Water Service Group’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, February 9th. California Water Service Group’s payout ratio is presently 53.57%.
CWT has been the subject of a number of recent analyst reports. ValuEngine upgraded California Water Service Group from a “hold” rating to a “buy” rating in a report on Tuesday, March 13th. Hilliard Lyons downgraded California Water Service Group from a “neutral” rating to an “underperform” rating in a report on Wednesday, January 17th. Zacks Investment Research upgraded California Water Service Group from a “sell” rating to a “hold” rating in a report on Tuesday, March 6th. Finally, UBS initiated coverage on California Water Service Group in a report on Thursday, March 8th. They issued a “sell” rating and a $34.00 price objective for the company. Three research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $37.25.
Large investors have recently bought and sold shares of the business. SeaCrest Wealth Management LLC acquired a new position in California Water Service Group in the fourth quarter valued at about $106,000. CoreCommodity Management LLC acquired a new position in shares of California Water Service Group during the fourth quarter worth about $146,000. SG Americas Securities LLC acquired a new position in shares of California Water Service Group during the third quarter worth about $160,000. HPM Partners LLC acquired a new position in shares of California Water Service Group during the fourth quarter worth about $204,000. Finally, ACG Wealth acquired a new position in shares of California Water Service Group during the fourth quarter worth about $207,000. 70.15% of the stock is owned by hedge funds and other institutional investors.
California Water Service Group Company Profile
California Water Service Group is a holding company. The Company operates through the supply and distribution of water and providing water-related utility services segment. The Company, through its subsidiaries, provides non-regulated services and non-regulated services to private companies and municipalities.
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