California Water Service Group (NYSE:CWT) Receives $54.25 Average Price Target from Analysts

Shares of California Water Service Group (NYSE:CWT) have received a consensus recommendation of “Hold” from the four research firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $54.25.

Several analysts have weighed in on the stock. Robert W. Baird boosted their price target on shares of California Water Service Group from $52.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. StockNews.com raised shares of California Water Service Group from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Finally, UBS Group raised shares of California Water Service Group from a “sell” rating to a “neutral” rating and set a $49.00 price target for the company in a research note on Thursday, April 4th.

California Water Service Group Stock Performance

NYSE CWT opened at $47.92 on Monday. California Water Service Group has a 52-week low of $43.50 and a 52-week high of $54.85. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.52 and a current ratio of 0.56. The company has a market capitalization of $2.77 billion, a P/E ratio of 19.17 and a beta of 0.48. The company has a fifty day moving average of $48.99 and a 200-day moving average of $48.45.

California Water Service Group (NYSE:CWT) last posted its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $1.00. The company had revenue of $270.75 million during the quarter, compared to the consensus estimate of $183.85 million. California Water Service Group had a net margin of 15.42% and a return on equity of 10.09%. The firm’s revenue was up 106.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.40) EPS. As a group, equities research analysts predict that California Water Service Group will post 3.15 EPS for the current fiscal year.

California Water Service Group Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Monday, May 6th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend was Friday, May 3rd. California Water Service Group’s dividend payout ratio is currently 44.80%.

Insider Activity at California Water Service Group

In related news, Director Thomas M. Krummel sold 2,220 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $50.00, for a total transaction of $111,000.00. Following the transaction, the director now owns 23,873 shares in the company, valued at $1,193,650. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Thomas M. Krummel sold 555 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $53.26, for a total transaction of $29,559.30. Following the transaction, the director now owns 23,318 shares in the company, valued at $1,241,916.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas M. Krummel sold 2,220 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $50.00, for a total transaction of $111,000.00. Following the completion of the sale, the director now owns 23,873 shares in the company, valued at approximately $1,193,650. The disclosure for this sale can be found here. 0.73% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On California Water Service Group

A number of hedge funds and other institutional investors have recently bought and sold shares of CWT. Swiss National Bank grew its holdings in California Water Service Group by 1.7% in the third quarter. Swiss National Bank now owns 123,100 shares of the utilities provider’s stock worth $5,824,000 after purchasing an additional 2,100 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in California Water Service Group by 7.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 581,528 shares of the utilities provider’s stock worth $27,512,000 after purchasing an additional 40,655 shares during the period. Pathstone Family Office LLC grew its holdings in California Water Service Group by 6.3% in the third quarter. Pathstone Family Office LLC now owns 9,630 shares of the utilities provider’s stock worth $456,000 after purchasing an additional 569 shares during the period. State of New Jersey Common Pension Fund D grew its holdings in California Water Service Group by 17.1% in the third quarter. State of New Jersey Common Pension Fund D now owns 49,317 shares of the utilities provider’s stock worth $2,333,000 after purchasing an additional 7,219 shares during the period. Finally, Rhumbline Advisers lifted its stake in shares of California Water Service Group by 1.8% in the third quarter. Rhumbline Advisers now owns 212,413 shares of the utilities provider’s stock worth $10,049,000 after buying an additional 3,662 shares in the last quarter. Hedge funds and other institutional investors own 82.78% of the company’s stock.

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.