California Water Service Group (NYSE:CWT) Upgraded to Hold at StockNews.com

California Water Service Group (NYSE:CWT) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Thursday.

California Water Service Group Trading Down 2.2 %

NYSE:CWT opened at $48.55 on Thursday. The company has a market capitalization of $2.89 billion, a P/E ratio of 14.03 and a beta of 0.50. The stock’s 50 day moving average price is $51.96 and its 200 day moving average price is $51.78. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.60 and a current ratio of 0.64. California Water Service Group has a 52 week low of $43.50 and a 52 week high of $56.25.

California Water Service Group (NYSE:CWT) last announced its quarterly earnings results on Thursday, October 31st. The utilities provider reported $1.03 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.02). California Water Service Group had a return on equity of 13.24% and a net margin of 19.56%. The business had revenue of $299.60 million for the quarter, compared to analyst estimates of $289.55 million. During the same quarter last year, the company earned $0.60 EPS. The business’s revenue for the quarter was up 17.5% compared to the same quarter last year. On average, research analysts forecast that California Water Service Group will post 3.29 EPS for the current fiscal year.

Insider Transactions at California Water Service Group

In other news, VP Michael B. Luu sold 985 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $51.50, for a total value of $50,727.50. Following the completion of the sale, the vice president now directly owns 20,354 shares in the company, valued at approximately $1,048,231. The trade was a 4.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.73% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Trust Inc. lifted its position in California Water Service Group by 255.6% during the 3rd quarter. Blue Trust Inc. now owns 505 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 363 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of California Water Service Group by 109.9% during the 2nd quarter. GAMMA Investing LLC now owns 823 shares of the utilities provider’s stock worth $40,000 after purchasing an additional 431 shares during the last quarter. CWM LLC lifted its position in shares of California Water Service Group by 90.8% during the 2nd quarter. CWM LLC now owns 1,349 shares of the utilities provider’s stock worth $65,000 after purchasing an additional 642 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of California Water Service Group during the 2nd quarter worth about $85,000. Finally, nVerses Capital LLC bought a new position in California Water Service Group in the 3rd quarter worth approximately $119,000. 82.78% of the stock is currently owned by institutional investors and hedge funds.

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.