Wall Street Zen Downgrades California Water Service Group (NYSE:CWT) to Sell

California Water Service Group (NYSE:CWT - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday.

CWT has been the topic of a number of other research reports. Seaport Res Ptn upgraded shares of California Water Service Group from a "hold" rating to a "strong-buy" rating in a report on Friday, April 11th. Wells Fargo & Company increased their price objective on California Water Service Group from $54.00 to $59.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd.

California Water Service Group Stock Down 1.8%

Shares of NYSE CWT traded down $0.85 during trading on Friday, hitting $46.63. 287,896 shares of the company traded hands, compared to its average volume of 333,867. The firm has a market capitalization of $2.78 billion, a price-to-earnings ratio of 20.45, a P/E/G ratio of 2.29 and a beta of 0.66. The business's fifty day moving average is $47.89 and its 200 day moving average is $46.69. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.49 and a current ratio of 0.53. California Water Service Group has a fifty-two week low of $41.64 and a fifty-two week high of $56.25.

California Water Service Group (NYSE:CWT - Get Free Report) last issued its earnings results on Thursday, May 1st. The utilities provider reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.16 by $0.06. California Water Service Group had a return on equity of 8.32% and a net margin of 13.84%. The company had revenue of $203.97 million for the quarter, compared to analyst estimates of $194.80 million. During the same period in the prior year, the firm earned $1.21 earnings per share. California Water Service Group's revenue for the quarter was down 24.7% on a year-over-year basis. Equities research analysts predict that California Water Service Group will post 3.15 earnings per share for the current fiscal year.

Insider Buying and Selling at California Water Service Group

In related news, Director Lester A. Snow sold 1,200 shares of the firm's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $46.51, for a total transaction of $55,812.00. Following the completion of the sale, the director now owns 26,349 shares in the company, valued at approximately $1,225,491.99. This trade represents a 4.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.73% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in California Water Service Group by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 7,514,709 shares of the utilities provider's stock valued at $340,642,000 after purchasing an additional 158,295 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in California Water Service Group by 2.3% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,029,785 shares of the utilities provider's stock valued at $146,824,000 after acquiring an additional 67,002 shares during the period. Nuance Investments LLC raised its stake in California Water Service Group by 35.4% in the 1st quarter. Nuance Investments LLC now owns 2,017,511 shares of the utilities provider's stock valued at $97,769,000 after acquiring an additional 527,343 shares during the period. First Trust Advisors LP lifted its holdings in California Water Service Group by 4.9% during the fourth quarter. First Trust Advisors LP now owns 1,689,977 shares of the utilities provider's stock valued at $76,607,000 after purchasing an additional 79,658 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in California Water Service Group by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 1,360,158 shares of the utilities provider's stock worth $61,670,000 after purchasing an additional 22,192 shares during the period. 82.78% of the stock is owned by institutional investors.

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.