California Water Service Group (NYSE:CWT) Director Sells $30,574.95 in Stock

California Water Service Group (NYSE:CWT) Director Thomas M. Krummel sold 555 shares of California Water Service Group stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $55.09, for a total value of $30,574.95. Following the completion of the transaction, the director now directly owns 21,951 shares in the company, valued at $1,209,280.59. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

California Water Service Group Stock Down 1.3 %

Shares of CWT opened at $54.26 on Friday. The company has a quick ratio of 0.49, a current ratio of 0.52 and a debt-to-equity ratio of 0.68. The company has a 50-day moving average price of $52.65 and a two-hundred day moving average price of $49.54. The stock has a market cap of $3.13 billion, a price-to-earnings ratio of 21.70 and a beta of 0.47. California Water Service Group has a 12 month low of $43.50 and a 12 month high of $55.52.

California Water Service Group (NYSE:CWT) last posted its earnings results on Thursday, August 1st. The utilities provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.42 by $0.28. California Water Service Group had a return on equity of 11.94% and a net margin of 17.78%. The business had revenue of $244.30 million during the quarter, compared to the consensus estimate of $216.25 million. During the same quarter last year, the company earned $0.17 EPS. California Water Service Group’s revenue was up 25.9% on a year-over-year basis. Equities analysts predict that California Water Service Group will post 3.33 EPS for the current fiscal year.

California Water Service Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 12th were paid a $0.28 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.12 annualized dividend and a dividend yield of 2.06%. California Water Service Group’s dividend payout ratio is presently 44.80%.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company upgraded shares of California Water Service Group from an “underweight” rating to an “equal weight” rating and upped their target price for the company 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $53.67.

Institutional Investors Weigh In On California Water Service Group

Hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in California Water Service Group by 109.9% during the 2nd quarter. GAMMA Investing LLC now owns 823 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 431 shares in the last quarter. TFO Wealth Partners LLC grew its holdings in shares of California Water Service Group by 57,000.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,142 shares of the utilities provider’s stock worth $59,000 after purchasing an additional 1,140 shares during the last quarter. CWM LLC raised its holdings in shares of California Water Service Group by 90.8% in the second quarter. CWM LLC now owns 1,349 shares of the utilities provider’s stock valued at $65,000 after buying an additional 642 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in California Water Service Group during the 2nd quarter worth about $85,000. Finally, Rothschild Investment LLC bought a new stake in California Water Service Group during the 2nd quarter worth about $127,000. Institutional investors and hedge funds 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.