California Water Service Group (NYSE:CWT) Shares Cross Above 200 Day Moving Average - Here's What Happened

Key Points

• Shares crossed above the 200-day moving average: CWT traded as high as $47.30 and last at $46.89, above its 200‑day MA of $45.28, on volume of about 742,000 shares.
• Quarterly results beat expectations — EPS $0.61 vs. $0.36 estimate and revenue $265.6M vs. $239.1M — and the company raised its quarterly dividend to $0.335 (annualized $1.34, yield ~2.9%).
• Analyst consensus is a “Moderate Buy” with an average target of $55.00, while insiders recently sold shares (insiders own 0.73%) and institutions hold ~82.78% of the stock.

California Water Service Group (NYSE:CWT - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $45.28 and traded as high as $47.30. California Water Service Group shares last traded at $46.8910, with a volume of 741,880 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a "hold (c)" rating on shares of California Water Service Group in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, California Water Service Group currently has an average rating of "Moderate Buy" and an average target price of $55.00.

California Water Service Group Price Performance

The firm has a market cap of $2.81 billion, a P/E ratio of 21.81, a price-to-earnings-growth ratio of 1.66 and a beta of 0.61. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 0.87. The business has a 50-day moving average of $45.38 and a two-hundred day moving average of $45.28.

California Water Service Group (NYSE:CWT - Get Free Report) last issued its quarterly earnings data on Wednesday, February 25th. The utilities provider reported $0.61 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.25. The business had revenue of $265.61 million for the quarter, compared to analyst estimates of $239.10 million. California Water Service Group had a return on equity of 7.67% and a net margin of 12.82%.California Water Service Group's quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS. On average, sell-side analysts anticipate that California Water Service Group will post 2.56 earnings per share for the current fiscal year.

California Water Service Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Monday, February 9th were given a dividend of $0.335 per share. The ex-dividend date was Monday, February 9th. This represents a $1.34 dividend on an annualized basis and a yield of 2.9%. This is an increase from California Water Service Group's previous quarterly dividend of $0.30. California Water Service Group's dividend payout ratio is presently 62.33%.

Insiders Place Their Bets

In other California Water Service Group news, VP Michael B. Luu sold 740 shares of the company's stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $44.53, for a total value of $32,952.20. Following the completion of the transaction, the vice president directly owned 23,655 shares in the company, valued at approximately $1,053,357.15. This represents a 3.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Michael S. Mares, Jr. sold 3,892 shares of the company's stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $44.00, for a total transaction of $171,248.00. Following the completion of the transaction, the vice president owned 8,525 shares of the company's stock, valued at approximately $375,100. This trade represents a 31.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.73% of the company's stock.

Hedge Funds Weigh In On California Water Service Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC increased its position in California Water Service Group by 3,318.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 547 shares of the utilities provider's stock valued at $25,000 after acquiring an additional 531 shares during the period. Danske Bank A S acquired a new position in California Water Service Group in the 3rd quarter valued at approximately $28,000. EverSource Wealth Advisors LLC increased its position in California Water Service Group by 109.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 697 shares of the utilities provider's stock valued at $32,000 after acquiring an additional 365 shares during the period. Hantz Financial Services Inc. increased its position in California Water Service Group by 291.1% in the 3rd quarter. Hantz Financial Services Inc. now owns 880 shares of the utilities provider's stock valued at $40,000 after acquiring an additional 655 shares during the period. Finally, Aster Capital Management DIFC Ltd acquired a new position in California Water Service Group in the 3rd quarter valued at approximately $43,000. 82.78% of the stock is currently owned by institutional investors and hedge funds.

California Water Service Group Company Profile

California Water Service Group NYSE: CWT is a publicly traded holding company that provides regulated water utility services through its subsidiaries. The company delivers safe, reliable drinking water and wastewater management to residential, commercial, industrial and municipal customers across California, Hawaii and New Mexico. Its principal operating units include California Water Service, New Mexico Water Service and Hawaii Water Service, each responsible for end‐to‐end water supply operations—from source development and treatment to distribution and customer service.

Founded in 1926 as the California Water Service Company, the group has grown to become one of the largest investor‐owned water utilities in the United States by customer count.

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