California Water Service Group (NYSE:CWT) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of California Water Service Group (NYSE:CWT) from a sell rating to a hold rating in a report published on Saturday morning.

A number of other equities research analysts also recently commented on the company. Wells Fargo & Company upgraded California Water Service Group from an “equal weight” rating to an “overweight” rating and reduced their target price for the company from $56.00 to $52.00 in a research report on Tuesday, January 7th. Bank of America initiated coverage on California Water Service Group in a research report on Wednesday, December 11th. They issued a “buy” rating and a $57.00 target price on the stock. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $53.25.

California Water Service Group Stock Performance

Shares of NYSE:CWT opened at $43.71 on Friday. 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 business’s 50 day moving average price is $45.44 and its 200-day moving average price is $50.30. The firm has a market capitalization of $2.60 billion, a PE ratio of 12.63, a P/E/G ratio of 0.45 and a beta of 0.52. California Water Service Group has a 1 year low of $41.64 and a 1 year 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. Shareholders of record on Monday, February 10th will be given a $0.30 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.20 dividend on an annualized basis and a yield of 2.75%. This is an increase from California Water Service Group’s previous quarterly dividend of $0.28. California Water Service Group’s payout ratio is currently 32.37%.

Insider Buying and Selling

In related news, VP Michael B. Luu sold 985 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was 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 of the company’s stock, valued at $1,048,231. This represents a 4.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.73% of the stock is currently owned by insiders.

Institutional Trading of California Water Service Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cibc World Markets Corp purchased a new stake in California Water Service Group during the 4th quarter valued at approximately $253,000. Creative Financial Designs Inc. ADV grew its holdings in California Water Service Group by 5.2% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 12,666 shares of the utilities provider’s stock valued at $574,000 after buying an additional 625 shares during the last quarter. Corient Private Wealth LLC grew its holdings in California Water Service Group by 3.6% during the 4th quarter. Corient Private Wealth LLC now owns 9,420 shares of the utilities provider’s stock valued at $427,000 after buying an additional 327 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of California Water Service Group by 3.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 12,228 shares of the utilities provider’s stock worth $554,000 after purchasing an additional 382 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of California Water Service Group during the fourth quarter worth $1,582,000. 82.78% of the stock is 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.