California Water Service Group Holding’s (NYSE:CWT) “Hold” Rating Reaffirmed at US Capital Advisors

US Capital Advisors reaffirmed their hold rating on shares of California Water Service Group Holding (NYSE:CWT) in a research report released on Monday, July 17th.

CWT has been the subject of several other research reports. Zacks Investment Research downgraded shares of California Water Service Group Holding from a hold rating to a sell rating in a research note on Friday, April 28th. BidaskClub raised shares of California Water Service Group Holding from a hold rating to a buy rating in a research note on Friday, June 9th. Finally, Gabelli downgraded shares of California Water Service Group Holding from a buy rating to a hold rating in a research note on Friday, April 28th. Two investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. The company presently has an average rating of Hold and a consensus price target of $34.40.

California Water Service Group Holding (NYSE CWT) traded down 0.92% during midday trading on Monday, reaching $37.90. 165,397 shares of the company traded hands. The firm has a market capitalization of $1.82 billion, a PE ratio of 31.58 and a beta of 0.69. California Water Service Group Holding has a 12 month low of $29.25 and a 12 month high of $39.65. The company’s 50-day moving average price is $37.74 and its 200 day moving average price is $35.98.

California Water Service Group Holding (NYSE:CWT) last released its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.39 EPS for the quarter, topping the consensus estimate of $0.31 by $0.08. California Water Service Group Holding had a net margin of 9.17% and a return on equity of 8.78%. The business had revenue of $171.10 million for the quarter, compared to analyst estimates of $162.23 million. During the same period in the previous year, the firm earned $0.24 EPS. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. On average, equities analysts anticipate that California Water Service Group Holding will post $1.31 earnings per share for the current year.

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The company also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Investors of record on Monday, August 7th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.90%. The ex-dividend date is Thursday, August 3rd. California Water Service Group Holding’s payout ratio is 60.00%.

In other news, VP David B. Healey sold 1,000 shares of the company’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $35.90, for a total transaction of $35,900.00. Following the completion of the transaction, the vice president now owns 13,574 shares of the company’s stock, valued at approximately $487,306.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its position in California Water Service Group Holding by 8,783.3% in the first quarter. BlackRock Inc. now owns 5,939,636 shares of the utilities provider’s stock worth $212,936,000 after buying an additional 5,872,773 shares in the last quarter. Vanguard Group Inc. increased its position in California Water Service Group Holding by 1.3% in the second quarter. Vanguard Group Inc. now owns 4,985,488 shares of the utilities provider’s stock worth $183,466,000 after buying an additional 63,704 shares in the last quarter. Impax Asset Management LTD increased its position in California Water Service Group Holding by 1.0% in the first quarter. Impax Asset Management LTD now owns 1,747,183 shares of the utilities provider’s stock worth $62,633,000 after buying an additional 17,235 shares in the last quarter. Dimensional Fund Advisors LP increased its position in California Water Service Group Holding by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,619,018 shares of the utilities provider’s stock worth $59,579,000 after buying an additional 5,639 shares in the last quarter. Finally, State Street Corp increased its position in California Water Service Group Holding by 7.2% in the first quarter. State Street Corp now owns 1,215,362 shares of the utilities provider’s stock worth $43,575,000 after buying an additional 82,143 shares in the last quarter. 68.45% of the stock is owned by institutional investors.

About California Water Service Group Holding

California Water Service Group is a holding company. The Company operates through the supply and distribution of water and providing water-related utility services segment. The Company, through its subsidiaries, provides non-regulated services and non-regulated services to private companies and municipalities.

Analyst Recommendations for California Water  Service Group Holding (NYSE:CWT)

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