California Water Service Group (NYSE:CWT) Cut to “Sell” at StockNews.com

StockNews.com cut shares of California Water Service Group (NYSE:CWT) from a hold rating to a sell rating in a research note released on Friday.

Several other research firms also recently commented on CWT. Bank of America started coverage on California Water Service Group in a report on Wednesday, December 11th. They set a “buy” rating and a $57.00 price objective on the stock. Wells Fargo & Company upgraded California Water Service Group from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $56.00 to $52.00 in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $53.25.

California Water Service Group Trading Up 1.5 %

CWT opened at $45.47 on Friday. The stock’s fifty day moving average is $46.25 and its two-hundred day moving average is $50.63. The company has a market capitalization of $2.70 billion, a P/E ratio of 13.14, a PEG ratio of 0.45 and a beta of 0.52. California Water Service Group has a 52 week low of $41.64 and a 52 week high of $56.25. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 0.64.

California Water Service Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Monday, February 10th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.64%. This is an increase from California Water Service Group’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, February 10th. California Water Service Group’s payout ratio is 34.68%.

Insiders Place Their Bets

In other California Water Service Group news, VP Michael B. Luu sold 985 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $51.50, for a total transaction 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.73% of the stock is currently owned by insiders.

Institutional Investors Weigh In On California Water Service Group

A number of large investors have recently made changes to their positions in the stock. Blue Trust Inc. lifted its stake in California Water Service Group by 255.6% during the third quarter. Blue Trust Inc. now owns 505 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 363 shares in the last quarter. GAMMA Investing LLC increased its holdings in California Water Service Group by 50.2% in the third quarter. GAMMA Investing LLC now owns 1,236 shares of the utilities provider’s stock valued at $67,000 after buying an additional 413 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in California Water Service Group in the second quarter valued at $85,000. nVerses Capital LLC purchased a new position in California Water Service Group in the third quarter valued at $119,000. Finally, CWM LLC increased its holdings in California Water Service Group by 129.1% in the third quarter. CWM LLC now owns 3,090 shares of the utilities provider’s stock valued at $168,000 after buying an additional 1,741 shares during the last quarter. 82.78% of the stock is currently owned by hedge funds and other institutional investors.

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 services.