Insider Selling: California Water Service Group (NYSE:CWT) Director Sells 10,000 Shares of Stock

California Water Service Group (NYSE:CWT) Director Peter C. Nelson sold 10,000 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $49.10, for a total transaction of $491,000.00. Following the transaction, the director now directly owns 39,509 shares in the company, valued at $1,939,891.90. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Shares of NYSE CWT traded up $0.11 during midday trading on Tuesday, hitting $50.19. The company had a trading volume of 226,277 shares, compared to its average volume of 216,087. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.50 and a quick ratio of 0.49. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of 36.83, a price-to-earnings-growth ratio of 3.61 and a beta of 0.37. The firm has a 50-day simple moving average of $50.21. California Water Service Group has a twelve month low of $38.75 and a twelve month high of $55.05.

California Water Service Group (NYSE:CWT) last announced its earnings results on Thursday, April 25th. The utilities provider reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.21). The business had revenue of $126.10 million for the quarter, compared to analyst estimates of $138.86 million. California Water Service Group had a return on equity of 7.76% and a net margin of 8.05%. The business’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.05) EPS. Research analysts forecast that California Water Service Group will post 1.39 earnings per share for the current fiscal year.

Several analysts have recently weighed in on CWT shares. Boenning Scattergood started coverage on shares of California Water Service Group in a report on Monday, June 10th. They issued a “neutral” rating on the stock. Wells Fargo & Co reiterated a “hold” rating on shares of California Water Service Group in a research note on Monday, June 10th. ValuEngine cut shares of California Water Service Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 11th. Finally, Zacks Investment Research upgraded shares of California Water Service Group from a “sell” rating to a “hold” rating in a research note on Tuesday, February 26th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $48.50.

Institutional investors and hedge funds have recently made changes to their positions in the business. Los Angeles Capital Management & Equity Research Inc. acquired a new position in California Water Service Group during the first quarter worth about $732,000. Independent Advisor Alliance grew its holdings in shares of California Water Service Group by 49.5% during the first quarter. Independent Advisor Alliance now owns 14,067 shares of the utilities provider’s stock worth $764,000 after buying an additional 4,658 shares in the last quarter. Mackay Shields LLC grew its holdings in shares of California Water Service Group by 50.5% during the fourth quarter. Mackay Shields LLC now owns 33,570 shares of the utilities provider’s stock worth $1,600,000 after buying an additional 11,270 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of California Water Service Group by 2.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 34,357 shares of the utilities provider’s stock worth $1,637,000 after buying an additional 755 shares in the last quarter. Finally, Arjuna Capital grew its holdings in shares of California Water Service Group by 5.2% during the fourth quarter. Arjuna Capital now owns 5,217 shares of the utilities provider’s stock worth $249,000 after buying an additional 260 shares in the last quarter. Institutional investors own 74.22% of the company’s stock.

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, and Hawaii. It 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.

Featured Article: The basics of gap trading strategies

Receive News & Ratings for California Water Service Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for California Water Service Group and related companies with MarketBeat.com's FREE daily email newsletter.