David B. Healey Sells 1,000 Shares of California Water Service Group (NYSE:CWT) Stock

California Water Service Group (NYSE:CWT) VP David B. Healey sold 1,000 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $50.00, for a total value of $50,000.00. Following the sale, the vice president now owns 15,106 shares in the company, valued at $755,300. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

NYSE CWT traded down $0.64 on Monday, reaching $49.99. 438,000 shares of the stock traded hands, compared to its average volume of 229,733. The stock’s fifty day moving average price is $50.26. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.49 and a current ratio of 0.50. The company has a market capitalization of $2.44 billion, a P/E ratio of 36.76, a price-to-earnings-growth ratio of 3.63 and a beta of 0.35. California Water Service Group has a 12 month low of $38.85 and a 12 month high of $55.05.

California Water Service Group (NYSE:CWT) last released its quarterly earnings data on Thursday, April 25th. The utilities provider reported ($0.16) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.21). The company had revenue of $126.10 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.05) earnings per share. Research analysts predict that California Water Service Group will post 1.39 earnings per share for the current fiscal year.

A number of brokerages have recently weighed in on CWT. Wells Fargo & Co reiterated a “hold” rating on shares of California Water Service Group in a research report on Monday, June 10th. Boenning Scattergood assumed coverage on California Water Service Group in a research report on Monday, June 10th. They issued a “neutral” rating on the stock. Finally, ValuEngine cut California Water Service Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 11th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $48.50.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CWT. BlackRock Inc. boosted its stake in shares of California Water Service Group by 2.1% during the 4th quarter. BlackRock Inc. now owns 7,470,871 shares of the utilities provider’s stock worth $356,064,000 after acquiring an additional 155,103 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new stake in shares of California Water Service Group in the fourth quarter valued at $6,692,000. Norges Bank purchased a new stake in shares of California Water Service Group in the fourth quarter valued at $6,293,000. Millennium Management LLC purchased a new stake in shares of California Water Service Group in the fourth quarter valued at $4,982,000. Finally, WINTON GROUP Ltd lifted its holdings in shares of California Water Service Group by 26.4% in the fourth quarter. WINTON GROUP Ltd now owns 322,690 shares of the utilities provider’s stock valued at $15,379,000 after purchasing an additional 67,453 shares in the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

About California Water Service Group

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.

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