Zacks Investment Research lowered shares of California Water Service Group Holding (NYSE:CWT) from a buy rating to a hold rating in a research report report published on Monday.

According to Zacks, “California Water Service Company’s business, which is carried on through its operating subsidiaries, consists of the production, purchase, storage, purification, distribution and sale of water for domestic, industrial, public and irrigation uses, and for fire protection. It also provides water related services under agreements with municipalities and other private companies. The nonregulated services include full water system operation, and billing and meter reading services. “

A number of other analysts have also weighed in on the stock. Barclays PLC reduced their price target on shares of California Water Service Group Holding from $33.00 to $31.00 and set an equal weight rating for the company in a research note on Tuesday, September 6th. Hilliard Lyons raised shares of California Water Service Group Holding from a neutral rating to a buy rating in a research note on Monday. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $30.75.

Analyst Recommendations for California Water  Service Group Holding (NYSE:CWT)

California Water Service Group Holding (NYSE:CWT) traded down 0.268% during mid-day trading on Monday, reaching $31.665. 36,864 shares of the company’s stock traded hands. California Water Service Group Holding has a 52-week low of $21.01 and a 52-week high of $35.62. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 34.418 and a beta of 0.54. The company has a 50-day moving average of $31.46 and a 200-day moving average of $30.69.

California Water Service Group Holding (NYSE:CWT) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.24 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.24. The company earned $152.40 million during the quarter, compared to analyst estimates of $121.55 million. California Water Service Group Holding had a net margin of 7.43% and a return on equity of 6.94%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.21 EPS. Equities research analysts expect that California Water Service Group Holding will post $1.04 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CWT. PNC Financial Services Group Inc. raised its position in California Water Service Group Holding by 6.2% in the second quarter. PNC Financial Services Group Inc. now owns 3,428 shares of the company’s stock valued at $120,000 after buying an additional 200 shares in the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co bought a new position in California Water Service Group Holding during the second quarter valued at $196,000. Bluestein R H & Co. bought a new position in California Water Service Group Holding during the second quarter valued at $210,000. PineBridge Investments L.P. raised its position in California Water Service Group Holding by 4.0% in the second quarter. PineBridge Investments L.P. now owns 6,083 shares of the company’s stock valued at $212,000 after buying an additional 234 shares in the last quarter. Finally, Raymond James & Associates bought a new position in California Water Service Group Holding during the second quarter valued at $215,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

California Water Service Group Holding Company Profile

California Water Service Group is a holding company that provides water utility and other related services in California, Washington, New Mexico and Hawaii through its subsidiaries. It operates through supply and distribution of water, and providing water-related utility services segment. Its business comprises the production, purchase, storage, treatment, testing, distribution and sale of water for domestic, industrial, public and irrigation uses, and for fire protection.

5 Day Chart for NYSE:CWT

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