Lynne P. Mcghee Sells 1,605 Shares of California Water Service Group Holding (CWT) Stock

California Water Service Group Holding (NYSE:CWT) VP Lynne P. Mcghee sold 1,605 shares of the firm’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 value of $60,364.05. Following the sale, the vice president now owns 19,660 shares of the company’s stock, valued at approximately $739,412.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Shares of California Water Service Group Holding (CWT) opened at 37.00 on Wednesday. California Water Service Group Holding has a one year low of $29.25 and a one year high of $39.65. The company has a 50 day moving average price of $37.81 and a 200 day moving average price of $36.39. The company has a market cap of $1.78 billion, a P/E ratio of 30.83 and a beta of 0.70.

California Water Service Group Holding (NYSE:CWT) last released its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.08. California Water Service Group Holding had a return on equity of 8.78% and a net margin of 9.17%. The company had revenue of $171.10 million for the quarter, compared to analyst estimates of $162.23 million. During the same period in the prior year, the company posted $0.24 EPS. The company’s revenue was up 12.3% compared to the same quarter last year. Equities research analysts expect that California Water Service Group Holding will post $1.31 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 18th. Stockholders of record on Monday, August 7th were paid a $0.18 dividend. The ex-dividend date was Thursday, August 3rd. This represents a $0.72 annualized dividend and a dividend yield of 1.95%. California Water Service Group Holding’s dividend payout ratio is currently 60.00%.

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Several hedge funds have recently added to or reduced their stakes in CWT. LS Investment Advisors LLC grew its stake in shares of California Water Service Group Holding by 62.5% in the 1st quarter. LS Investment Advisors LLC now owns 2,782 shares of the utilities provider’s stock valued at $100,000 after purchasing an additional 1,070 shares during the period. Accurate Investment Solutions Inc. grew its stake in shares of California Water Service Group Holding by 0.3% in the 2nd quarter. Accurate Investment Solutions Inc. now owns 2,917 shares of the utilities provider’s stock valued at $107,000 after purchasing an additional 8 shares during the period. Ameritas Investment Partners Inc. bought a new stake in shares of California Water Service Group Holding in the 1st quarter valued at approximately $149,000. Riverhead Capital Management LLC grew its stake in shares of California Water Service Group Holding by 66.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 4,161 shares of the utilities provider’s stock valued at $153,000 after purchasing an additional 1,661 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in shares of California Water Service Group Holding by 5.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,575 shares of the utilities provider’s stock valued at $164,000 after purchasing an additional 225 shares during the period. Institutional investors own 68.73% of the company’s stock.

CWT has been the subject of several research reports. Zacks Investment Research upgraded California Water Service Group Holding from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research report on Friday, July 28th. BidaskClub upgraded California Water Service Group Holding from a “hold” rating to a “buy” rating in a research report on Friday, June 9th. Robert W. Baird reiterated a “hold” rating and issued a $35.00 target price on shares of California Water Service Group Holding in a research report on Sunday, September 3rd. Finally, US Capital Advisors reiterated a “hold” rating on shares of California Water Service Group Holding in a research report on Monday, July 17th. Two investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. California Water Service Group Holding currently has a consensus rating of “Hold” and a consensus target price of $34.80.

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.

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