California Water Service Group (NYSE:CWT) Receives $53.25 Consensus Target Price from Brokerages

California Water Service Group (NYSE:CWT) has received an average recommendation of “Moderate Buy” from the four brokerages that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $53.25.

A number of equities analysts recently commented on the stock. Wells Fargo & Company raised shares of California Water Service Group from an “equal weight” rating to an “overweight” rating and decreased their price objective for the stock from $56.00 to $52.00 in a research note on Tuesday, January 7th. StockNews.com downgraded shares of California Water Service Group from a “hold” rating to a “sell” rating in a report on Friday. Finally, Bank of America began coverage on shares of California Water Service Group in a report on Wednesday, December 11th. They issued a “buy” rating and a $57.00 target price on the stock.

Insider Buying and Selling

In other California Water Service Group news, VP Michael B. Luu sold 985 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $51.50, for a total transaction of $50,727.50. Following the sale, the vice president now directly owns 20,354 shares of the company’s stock, valued at approximately $1,048,231. This represents a 4.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.73% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On California Water Service Group

Institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. grew 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 buying an additional 363 shares in the last quarter. GAMMA Investing LLC raised its holdings in California Water Service Group by 50.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,236 shares of the utilities provider’s stock worth $67,000 after purchasing an additional 413 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in California Water Service Group during the 2nd quarter worth approximately $85,000. nVerses Capital LLC bought a new position in California Water Service Group during the 3rd quarter worth approximately $119,000. Finally, CWM LLC raised its holdings in California Water Service Group by 129.1% during the 3rd quarter. CWM LLC now owns 3,090 shares of the utilities provider’s stock worth $168,000 after purchasing an additional 1,741 shares during the last quarter. 82.78% of the stock is currently owned by institutional investors and hedge funds.

California Water Service Group Trading Up 0.1 %

California Water Service Group stock opened at $45.33 on Thursday. The firm has a 50 day simple moving average of $46.11 and a 200-day simple moving average of $50.58. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.64 and a quick ratio of 0.60. The stock has a market capitalization of $2.70 billion, a PE ratio of 13.10, a price-to-earnings-growth ratio of 0.46 and a beta of 0.52. California Water Service Group has a 12-month low of $41.64 and a 12-month high of $56.25.

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 issued a dividend of $0.30 per share. This is a boost from California Water Service Group’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.20 annualized dividend and a yield of 2.65%. California Water Service Group’s dividend payout ratio is presently 32.37%.

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.