ValuEngine upgraded shares of California Water Service Group (NYSE:CWT) from a hold rating to a buy rating in a research report report published on Tuesday.
A number of other equities research analysts have also recently commented on CWT. UBS Group assumed coverage on California Water Service Group in a report on Thursday, March 8th. They set a sell rating and a $34.00 target price on the stock. Zacks Investment Research upgraded California Water Service Group from a sell rating to a hold rating in a report on Tuesday, March 6th. Finally, Hilliard Lyons cut California Water Service Group from a neutral rating to an underperform rating in a report on Wednesday, January 17th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $37.25.
Shares of California Water Service Group (NYSE:CWT) opened at $37.60 on Tuesday. The company has a market capitalization of $1,810.00, a price-to-earnings ratio of 10.30, a price-to-earnings-growth ratio of 4.41 and a beta of 0.62. The company has a current ratio of 0.46, a quick ratio of 0.45 and a debt-to-equity ratio of 0.74. California Water Service Group has a fifty-two week low of $32.75 and a fifty-two week high of $46.15.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Monday, February 12th were issued a dividend of $0.1875 per share. This is a boost from California Water Service Group’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.75 annualized dividend and a dividend yield of 1.99%. California Water Service Group’s dividend payout ratio (DPR) is 20.55%.
In other California Water Service Group news, Director George A. Vera acquired 869 shares of the firm’s stock in a transaction dated Tuesday, March 6th. The shares were acquired at an average price of $35.40 per share, for a total transaction of $30,762.60. Following the completion of the acquisition, the director now directly owns 41,509 shares of the company’s stock, valued at $1,469,418.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Lester A. Snow sold 2,000 shares of the firm’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $38.59, for a total value of $77,180.00. The disclosure for this sale can be found here. Insiders have bought 874 shares of company stock worth $30,962 in the last 90 days. Insiders own 0.97% of the company’s stock.
Several hedge funds have recently bought and sold shares of CWT. SeaCrest Wealth Management LLC acquired a new stake in shares of California Water Service Group during the fourth quarter worth $106,000. CoreCommodity Management LLC acquired a new stake in shares of California Water Service Group during the fourth quarter worth $146,000. SG Americas Securities LLC acquired a new stake in shares of California Water Service Group during the third quarter worth $160,000. HPM Partners LLC acquired a new stake in shares of California Water Service Group during the fourth quarter worth $204,000. Finally, ACG Wealth acquired a new stake in shares of California Water Service Group during the fourth quarter worth $207,000. Institutional investors and hedge funds own 70.15% of the company’s stock.
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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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