California Water Service Group Holding (NYSE:CWT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

According to Zacks, “California Water Service Company’s business, which is carried on through its operating subsidiaries, consists of the production, purchase, storage, purification, distribution and sale of water for domestic, industrial, public and irrigation uses, and for fire protection. It also provides water related services under agreements with municipalities and other private companies. The nonregulated services include full water system operation, and billing and meter reading services. “

CWT has been the topic of several other reports. Robert W. Baird reiterated a “hold” rating and issued a $35.00 target price on shares of California Water Service Group Holding in a report on Sunday, September 3rd. Barclays PLC boosted their target price on shares of California Water Service Group Holding from $30.00 to $32.00 and gave the company an “underweight” rating in a report on Friday, September 22nd. Finally, BidaskClub lowered shares of California Water Service Group Holding from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Two analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $36.75.

California Water Service Group Holding (NYSE:CWT) opened at $44.10 on Thursday. The firm has a market cap of $2,083.86, a PE ratio of 30.56, a P/E/G ratio of 5.89 and a beta of 0.72. California Water Service Group Holding has a 52-week low of $32.45 and a 52-week high of $44.30. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.46 and a current ratio of 0.47.

California Water Service Group Holding (NYSE:CWT) last posted its quarterly earnings results on Thursday, October 26th. The utilities provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The firm had revenue of $211.70 million for the quarter, compared to analyst estimates of $203.00 million. California Water Service Group Holding had a net margin of 10.46% and a return on equity of 10.31%. California Water Service Group Holding’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.48 earnings per share. analysts anticipate that California Water Service Group Holding will post 1.34 EPS for the current fiscal year.

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In other news, VP Lynne P. Mcghee sold 1,079 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $36.94, for a total value of $39,858.26. Following the sale, the vice president now directly owns 18,581 shares of the company’s stock, valued at approximately $686,382.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Lynne P. Mcghee sold 1,605 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $37.61, for a total transaction of $60,364.05. Following the completion of the sale, the vice president now directly owns 19,660 shares in the company, valued at $739,412.60. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in CWT. Nuance Investments LLC raised its stake in shares of California Water Service Group Holding by 106.1% in the 3rd quarter. Nuance Investments LLC now owns 661,848 shares of the utilities provider’s stock valued at $25,250,000 after acquiring an additional 340,789 shares during the period. State Street Corp raised its stake in shares of California Water Service Group Holding by 7.2% in the 1st quarter. State Street Corp now owns 1,215,362 shares of the utilities provider’s stock valued at $43,575,000 after acquiring an additional 82,143 shares during the period. Impax Asset Management LTD raised its stake in shares of California Water Service Group Holding by 4.0% in the 3rd quarter. Impax Asset Management LTD now owns 1,912,267 shares of the utilities provider’s stock valued at $72,953,000 after acquiring an additional 73,467 shares during the period. Ameriprise Financial Inc. raised its stake in shares of California Water Service Group Holding by 27.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 330,104 shares of the utilities provider’s stock valued at $12,147,000 after acquiring an additional 71,424 shares during the period. Finally, Forsta AP Fonden raised its stake in shares of California Water Service Group Holding by 299.5% in the 2nd quarter. Forsta AP Fonden now owns 87,500 shares of the utilities provider’s stock valued at $3,220,000 after acquiring an additional 65,600 shares during the period. 68.14% of the stock is currently owned by institutional investors and hedge funds.

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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