California Water Service Group (NYSE:CWT) Director Sells $555,400.00 in Stock

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California Water Service Group (NYSE:CWT) Director Peter C. Nelson sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $55.54, for a total transaction of $555,400.00. Following the sale, the director now directly owns 24,332 shares of the company’s stock, valued at approximately $1,351,399.28. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

NYSE CWT opened at $55.69 on Friday. The company has a fifty day simple moving average of $53.08 and a 200 day simple moving average of $51.62. California Water Service Group has a 12-month low of $40.10 and a 12-month high of $56.50. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 1.12. The company has a market cap of $2.67 billion, a P/E ratio of 45.16, a PEG ratio of 4.11 and a beta of 0.33.

California Water Service Group (NYSE:CWT) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.02). California Water Service Group had a net margin of 8.55% and a return on equity of 8.21%. The business had revenue of $179.03 million during the quarter, compared to analyst estimates of $180.97 million. During the same period in the previous year, the business posted $0.31 EPS. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. Sell-side analysts predict that California Water Service Group will post 1.35 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Monday, August 12th will be given a $0.198 dividend. This represents a $0.79 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Friday, August 9th. California Water Service Group’s payout ratio is currently 58.09%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in California Water Service Group in the 1st quarter valued at $732,000. Independent Advisor Alliance grew its position in California Water Service Group by 49.5% in the 1st quarter. Independent Advisor Alliance now owns 14,067 shares of the utilities provider’s stock valued at $764,000 after purchasing an additional 4,658 shares during the period. Everence Capital Management Inc. grew its position in California Water Service Group by 26.6% in the 2nd quarter. Everence Capital Management Inc. now owns 11,000 shares of the utilities provider’s stock valued at $557,000 after purchasing an additional 2,310 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in California Water Service Group by 1.8% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 18,616 shares of the utilities provider’s stock valued at $1,010,000 after acquiring an additional 336 shares in the last quarter. Finally, AlphaCrest Capital Management LLC bought a new position in California Water Service Group during the 1st quarter valued at $456,000. 76.01% of the stock is owned by institutional investors and hedge funds.

Several brokerages have recently commented on CWT. Boenning Scattergood began coverage on shares of California Water Service Group in a research report on Monday, June 10th. They set a “neutral” rating for the company. Wells Fargo & Co reissued a “hold” rating on shares of California Water Service Group in a research report on Monday, June 10th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $48.50.

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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