California Water Service Group (NYSE:CWT) VP Michael B. Luu Sells 985 Shares

California Water Service Group (NYSE:CWT) VP Michael B. Luu sold 985 shares of the firm’s stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

California Water Service Group Stock Up 0.8 %

California Water Service Group stock opened at $52.01 on Tuesday. The firm has a market capitalization of $3.09 billion, a P/E ratio of 15.03 and a beta of 0.49. The stock’s fifty day simple moving average is $52.36 and its 200-day simple moving average is $51.87. California Water Service Group has a twelve month low of $43.50 and a twelve month high of $56.25. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 0.64.

California Water Service Group (NYSE:CWT) last issued 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). The company had revenue of $299.60 million for the quarter, compared to analysts’ expectations of $289.55 million. California Water Service Group had a return on equity of 13.24% and a net margin of 19.56%. During the same quarter last year, the company earned $0.60 EPS. California Water Service Group’s revenue for the quarter was up 17.5% compared to the same quarter last year. As a group, equities analysts expect that California Water Service Group will post 3.29 earnings per share for the current fiscal year.

California Water Service Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Tuesday, November 12th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.15%. The ex-dividend date was Tuesday, November 12th. California Water Service Group’s dividend payout ratio (DPR) is presently 32.37%.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company raised California Water Service Group from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $50.00 to $57.00 in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $53.67.

Institutional Trading of California Water Service Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. acquired a new position in California Water Service Group in the second quarter valued at $6,823,000. Tidal Investments LLC purchased a new position in California Water Service Group during the 1st quarter worth approximately $535,000. Quest Partners LLC grew its stake in California Water Service Group by 297.1% during the 3rd quarter. Quest Partners LLC now owns 22,676 shares of the utilities provider’s stock worth $1,229,000 after buying an additional 16,966 shares during the last quarter. Vanguard Group Inc. increased its position in California Water Service Group by 3.3% during the first quarter. Vanguard Group Inc. now owns 7,198,981 shares of the utilities provider’s stock worth $334,609,000 after buying an additional 232,344 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in California Water Service Group in the second quarter valued at approximately $568,000. 82.78% of the stock is currently owned by institutional investors and hedge funds.

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.