California Water Service Group (NYSE:CWT) Receives Consensus Recommendation of “Reduce” from Analysts

California Water Service Group (NYSE:CWTGet Free Report) has received a consensus rating of “Reduce” from the three research firms that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation and one has given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $56.50.

CWT has been the subject of a number of recent analyst reports. Wells Fargo & Company downgraded California Water Service Group from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $56.00 to $47.00 in a report on Wednesday, October 25th. StockNews.com raised California Water Service Group to a “sell” rating in a report on Wednesday, November 1st. Finally, TheStreet raised California Water Service Group from a “c+” rating to a “b-” rating in a report on Thursday, December 28th.

View Our Latest Report on CWT

California Water Service Group Trading Up 1.8 %

Shares of NYSE CWT opened at $47.82 on Tuesday. California Water Service Group has a twelve month low of $44.83 and a twelve month high of $61.59. The company has a current ratio of 0.79, a quick ratio of 0.75 and a debt-to-equity ratio of 0.74. The stock has a fifty day simple moving average of $49.55 and a 200-day simple moving average of $49.74. The stock has a market capitalization of $2.76 billion, a PE ratio of 66.42 and a beta of 0.49.

California Water Service Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Monday, February 12th will be issued a $1.12 dividend. The ex-dividend date of this dividend is Friday, February 9th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 9.37%. This is a boost from California Water Service Group’s previous quarterly dividend of $0.26. California Water Service Group’s dividend payout ratio is currently 155.56%.

Insider Buying and Selling

In other California Water Service Group news, Director Thomas M. Krummel sold 555 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $51.77, for a total transaction of $28,732.35. Following the sale, the director now owns 27,731 shares in the company, valued at approximately $1,435,633.87. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other California Water Service Group news, Director Thomas M. Krummel sold 555 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $51.77, for a total transaction of $28,732.35. Following the sale, the director now owns 27,731 shares in the company, valued at approximately $1,435,633.87. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michelle R. Mortensen sold 675 shares of the stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $52.56, for a total value of $35,478.00. Following the transaction, the insider now directly owns 8,983 shares in the company, valued at approximately $472,146.48. The disclosure for this sale can be found here. Insiders have sold a total of 2,340 shares of company stock worth $122,680 in the last quarter. Company insiders own 0.88% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Rosenberg Matthew Hamilton acquired a new stake in shares of California Water Service Group during the third quarter valued at about $28,000. Banque Cantonale Vaudoise purchased a new position in California Water Service Group during the 2nd quarter worth approximately $32,000. AdvisorNet Financial Inc lifted its stake in shares of California Water Service Group by 42.2% in the 4th quarter. AdvisorNet Financial Inc now owns 741 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 220 shares during the last quarter. Belpointe Asset Management LLC lifted its position in California Water Service Group by 58.6% during the 1st quarter. Belpointe Asset Management LLC now owns 731 shares of the utilities provider’s stock worth $43,000 after acquiring an additional 270 shares during the last quarter. Finally, FinTrust Capital Advisors LLC acquired a new position in California Water Service Group during the 4th quarter worth $46,000. Hedge funds and other institutional investors own 80.63% of the company’s stock.

About California Water Service Group

(Get Free Report

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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