California Water Service Group (NYSE:CWT) Short Interest Down 14.2% in May

California Water Service Group (NYSE:CWT - Get Free Report) was the recipient of a significant decrease in short interest in May. As of May 15th, there was short interest totalling 686,200 shares, a decrease of 14.2% from the April 30th total of 799,800 shares. Based on an average trading volume of 392,600 shares, the days-to-cover ratio is presently 1.7 days. Approximately 1.2% of the company's stock are short sold.

California Water Service Group Stock Performance

California Water Service Group stock traded down $0.89 during mid-day trading on Wednesday, hitting $45.72. The company had a trading volume of 236,072 shares, compared to its average volume of 330,567. 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 has a 12-month low of $41.64 and a 12-month high of $56.25. The company's fifty day moving average is $48.47 and its 200-day moving average is $47.12. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of 13.21, a P/E/G ratio of 0.46 and a beta of 0.70.

California Water Service Group (NYSE:CWT - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The utilities provider reported $0.22 EPS for the quarter, topping the consensus estimate of $0.16 by $0.06. The business had revenue of $203.97 million for the quarter, compared to analyst estimates of $194.80 million. California Water Service Group had a return on equity of 13.24% and a net margin of 19.56%. The business's quarterly revenue was down 24.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.21 EPS. Equities research analysts predict that California Water Service Group will post 3.15 EPS for the current year.

California Water Service Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 12th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend was Monday, May 12th. California Water Service Group's payout ratio is 52.63%.

Institutional Investors Weigh In On California Water Service Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Versant Capital Management Inc lifted its stake in shares of California Water Service Group by 751.3% in the first quarter. Versant Capital Management Inc now owns 681 shares of the utilities provider's stock worth $33,000 after buying an additional 601 shares in the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of California Water Service Group in the first quarter worth about $34,000. Parkworth Wealth Management Inc. purchased a new position in shares of California Water Service Group in the fourth quarter worth about $50,000. Sterling Capital Management LLC lifted its stake in shares of California Water Service Group by 785.8% in the fourth quarter. Sterling Capital Management LLC now owns 1,435 shares of the utilities provider's stock worth $65,000 after buying an additional 1,273 shares in the last quarter. Finally, Mather Group LLC. purchased a new position in shares of California Water Service Group in the first quarter worth about $74,000. Institutional investors and hedge funds own 82.78% of the company's stock.

Analyst Ratings Changes

CWT has been the topic of a number of recent research reports. Wall Street Zen lowered California Water Service Group from a "hold" rating to a "sell" rating in a research report on Saturday, May 24th. Seaport Res Ptn upgraded California Water Service Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. Finally, Wells Fargo & Company upped their target price on California Water Service Group from $54.00 to $59.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd.

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.

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