Analysts Set California Water Service Group (NYSE:CWT) Price Target at $53.67

California Water Service Group (NYSE:CWT) has been assigned a consensus recommendation of “Moderate Buy” from the four research firms that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $54.50.

Several analysts recently issued reports on CWT shares. StockNews.com cut California Water Service Group from a “hold” rating to a “sell” rating in a research note on Friday, December 13th. Bank of America started coverage on California Water Service Group in a research report on Wednesday, December 11th. They issued a “buy” rating and a $57.00 price objective on the stock.

Insider Buying and Selling at California Water Service Group

In other news, VP Michael B. Luu sold 985 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $51.50, for a total value of $50,727.50. Following the completion of the transaction, the vice president now owns 20,354 shares of the company’s stock, valued at approximately $1,048,231. This represents a 4.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On California Water Service Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its position in 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 period. CWM LLC increased its stake in shares of California Water Service Group by 90.8% in the 2nd quarter. CWM LLC now owns 1,349 shares of the utilities provider’s stock worth $65,000 after acquiring an additional 642 shares in the last quarter. GAMMA Investing LLC lifted its position in California Water Service Group by 50.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,236 shares of the utilities provider’s stock valued at $67,000 after acquiring an additional 413 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in California Water Service Group during the second quarter worth about $85,000. Finally, nVerses Capital LLC purchased a new stake in California Water Service Group in the third quarter worth about $119,000. 82.78% of the stock is owned by hedge funds and other institutional investors.

California Water Service Group Stock Performance

NYSE:CWT opened at $47.93 on Wednesday. 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 has a fifty-two week low of $43.50 and a fifty-two week high of $56.25. The firm has a market cap of $2.85 billion, a PE ratio of 13.85 and a beta of 0.50. The business has a 50 day moving average price of $51.06 and a 200-day moving average price of $51.63.

California Water Service Group (NYSE:CWT) last announced its quarterly earnings results on Thursday, October 31st. The utilities provider reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.02). California Water Service Group had a net margin of 19.56% and a return on equity of 13.24%. The firm had revenue of $299.60 million for the quarter, compared to analysts’ expectations of $289.55 million. During the same period in the previous year, the company earned $0.60 EPS. The company’s quarterly revenue was up 17.5% on a year-over-year basis. Equities research analysts predict that California Water Service Group will post 3.29 earnings per share for the current year.

California Water Service Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Tuesday, November 12th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date was Tuesday, November 12th. California Water Service Group’s payout ratio is currently 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.