California Water Service Group (NYSE:CWT - Get Rating) insider Michelle R. Mortensen sold 615 shares of the stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $56.74, for a total value of $34,895.10. Following the completion of the transaction, the insider now directly owns 8,582 shares in the company, valued at approximately $486,942.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
California Water Service Group Stock Performance
CWT stock traded down $0.03 during midday trading on Thursday, reaching $56.89. The stock had a trading volume of 209,891 shares, compared to its average volume of 252,369. The stock has a market cap of $3.09 billion, a PE ratio of 34.48 and a beta of 0.34. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.93 and a current ratio of 0.97. The firm has a fifty day simple moving average of $59.57 and a two-hundred day simple moving average of $56.58. California Water Service Group has a 52-week low of $48.46 and a 52-week high of $72.08.
California Water Service Group (NYSE:CWT - Get Rating) last issued its earnings results on Thursday, July 28th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.60 by ($0.24). California Water Service Group had a return on equity of 7.39% and a net margin of 10.69%. During the same period in the previous year, the business posted $0.75 earnings per share. As a group, equities research analysts anticipate that California Water Service Group will post 1.78 EPS for the current year.
California Water Service Group Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, August 19th. Shareholders of record on Monday, August 8th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend was Friday, August 5th. California Water Service Group's dividend payout ratio is currently 60.61%.
Analysts Set New Price Targets
Separately, StockNews.com cut California Water Service Group from a "hold" rating to a "sell" rating in a research note on Monday, August 1st.
Institutional Investors Weigh In On California Water Service Group
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of California Water Service Group by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 6,297,891 shares of the utilities provider's stock valued at $373,339,000 after acquiring an additional 55,862 shares during the period. State Street Corp lifted its stake in California Water Service Group by 27.0% in the 2nd quarter. State Street Corp now owns 5,369,713 shares of the utilities provider's stock valued at $298,288,000 after buying an additional 1,140,204 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in California Water Service Group by 0.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,278,162 shares of the utilities provider's stock valued at $126,552,000 after buying an additional 9,949 shares in the last quarter. Pictet Asset Management SA lifted its stake in California Water Service Group by 5.7% in the 2nd quarter. Pictet Asset Management SA now owns 1,563,970 shares of the utilities provider's stock valued at $86,879,000 after buying an additional 83,688 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in California Water Service Group by 6.2% in the 4th quarter. Invesco Ltd. now owns 1,414,270 shares of the utilities provider's stock valued at $101,629,000 after buying an additional 81,975 shares in the last quarter. 80.07% of the stock is owned by institutional investors and hedge funds.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to email@example.com.
Before you consider California Water Service Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and California Water Service Group wasn't on the list.
While California Water Service Group currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here