Key Points
- Director Thomas Krummel sold 3,700 shares of California Water Service Group stock on May 21 at an average price of $43.30, totaling about $160,210. After the sale, he still owned 23,805 shares, a 13.45% reduction in his position.
- The company recently reported mixed quarterly results: EPS came in at $0.07, missing analyst expectations of $0.25, while revenue of $214.57 million slightly beat estimates and rose 5.2% year over year.
- California Water Service Group also declared a quarterly dividend of $0.335 per share, equivalent to an annualized yield of about 3.1%. Analysts currently rate the stock a “Moderate Buy” with an average price target of $54.50.
California Water Service Group (NYSE:CWT - Get Free Report) Director Thomas Krummel sold 3,700 shares of the business's stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $43.30, for a total transaction of $160,210.00. Following the completion of the sale, the director owned 23,805 shares in the company, valued at approximately $1,030,756.50. The trade was a 13.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
California Water Service Group Stock Down 0.3%
Shares of NYSE CWT opened at $43.20 on Friday. The firm's 50-day moving average price is $44.74 and its 200-day moving average price is $44.77. The company has a current ratio of 0.69, a quick ratio of 0.65 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of 21.60, a P/E/G ratio of 1.59 and a beta of 0.51. California Water Service Group has a 12-month low of $41.29 and a 12-month high of $50.44.
California Water Service Group (NYSE:CWT - Get Free Report) last announced its earnings results on Thursday, April 30th. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.18). The business had revenue of $214.57 million for the quarter, compared to analysts' expectations of $210.27 million. California Water Service Group had a net margin of 11.77% and a return on equity of 7.06%. The firm's quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.22 earnings per share. On average, equities research analysts anticipate that California Water Service Group will post 2.56 EPS for the current fiscal year.
California Water Service Group Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Monday, May 11th will be given a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Monday, May 11th. California Water Service Group's dividend payout ratio is currently 67.00%.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of California Water Service Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, May 8th. Robert W. Baird set a $54.00 price target on shares of California Water Service Group in a report on Friday, May 1st. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $54.50.
Check Out Our Latest Stock Analysis on California Water Service Group
Hedge Funds Weigh In On California Water Service Group
Hedge funds have recently added to or reduced their stakes in the company. Danske Bank A S bought a new position in California Water Service Group during the 3rd quarter valued at about $28,000. EverSource Wealth Advisors LLC grew its stake 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 worth $32,000 after acquiring an additional 365 shares in the last quarter. Bessemer Group Inc. grew its stake in California Water Service Group by 67.9% in the 1st quarter. Bessemer Group Inc. now owns 744 shares of the utilities provider's stock worth $34,000 after acquiring an additional 301 shares in the last quarter. Hantz Financial Services Inc. grew its stake 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 worth $40,000 after acquiring an additional 655 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new position in California Water Service Group in the 3rd quarter worth about $43,000. 82.78% of the stock is currently owned by institutional investors.
About California Water Service Group
(
Get Free Report)
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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