UBS Cuts California Water Service Group (CWT) Price Target to $33.00

California Water Service Group (NYSE:CWT) had its target price trimmed by UBS from $34.00 to $33.00 in a research note released on Friday, www.benzinga.com reports. The brokerage currently has a sell rating on the utilities provider’s stock.

A number of other brokerages have also recently weighed in on CWT. Zacks Investment Research cut shares of California Water Service Group from a hold rating to a sell rating in a research report on Wednesday, December 27th. Hilliard Lyons cut shares of California Water Service Group from a neutral rating to an underperform rating in a research report on Wednesday, January 17th. Finally, ValuEngine raised shares of California Water Service Group from a hold rating to a buy rating in a research report on Tuesday, March 13th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $37.00.

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Shares of California Water Service Group (NYSE CWT) opened at $35.95 on Friday. The company has a current ratio of 0.46, a quick ratio of 0.45 and a debt-to-equity ratio of 0.74. California Water Service Group has a 12-month low of $32.75 and a 12-month high of $46.15. The firm has a market cap of $1,726.01, a price-to-earnings ratio of 25.68, a P/E/G ratio of 4.19 and a beta of 0.62.

California Water Service Group (NYSE:CWT) last announced its quarterly earnings results on Thursday, March 1st. The utilities provider reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.06. California Water Service Group had a net margin of 10.07% and a return on equity of 9.97%. The firm had revenue of $162.00 million during the quarter, compared to analysts’ expectations of $155.89 million. During the same period in the prior year, the company earned $0.31 EPS. The firm’s revenue was up 7.4% on a year-over-year basis. analysts anticipate that California Water Service Group will post 1.43 earnings per share for the current year.

In other California Water Service Group news, VP Lynne P. Mcghee sold 1,000 shares of the business’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $36.74, for a total value of $36,740.00. Following the transaction, the vice president now owns 20,179 shares in the company, valued at approximately $741,376.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lester A. Snow sold 2,000 shares of the business’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $38.59, for a total transaction of $77,180.00. Following the completion of the transaction, the director now owns 41,511 shares in the company, valued at approximately $1,601,909.49. The disclosure for this sale can be found here. Insiders acquired a total of 874 shares of company stock worth $30,962 in the last quarter. 0.97% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the business. SeaCrest Wealth Management LLC acquired a new position in California Water Service Group in the 4th quarter worth $106,000. CoreCommodity Management LLC acquired a new position in California Water Service Group in the 4th quarter worth $146,000. SG Americas Securities LLC acquired a new position in California Water Service Group in the 3rd quarter worth $160,000. HPM Partners LLC acquired a new position in California Water Service Group in the 4th quarter worth $204,000. Finally, ACG Wealth acquired a new position in California Water Service Group in the 4th quarter worth $207,000. Hedge funds and other institutional investors own 70.11% of the company’s stock.

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California Water Service Group Company Profile

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 (NYSE:CWT)

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