California Water Service Group Holding (NYSE:CWT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday, July 11th.

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. “

Other research analysts also recently issued reports about the stock. BidaskClub upgraded shares of California Water Service Group Holding from a “hold” rating to a “buy” rating in a research report on Friday, June 9th. Gabelli downgraded shares of California Water Service Group Holding from a “buy” rating to a “hold” rating in a research report on Friday, April 28th. Two research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $34.40.

Shares of California Water Service Group Holding (NYSE CWT) traded down 0.77% during midday trading on Tuesday, reaching $38.55. 82,113 shares of the company were exchanged. The stock’s 50-day moving average price is $37.38 and its 200-day moving average price is $35.74. California Water Service Group Holding has a 52-week low of $29.25 and a 52-week high of $39.65. The company has a market capitalization of $1.85 billion, a PE ratio of 32.12 and a beta of 0.69.

California Water Service Group Holding (NYSE:CWT) last released its earnings results on Thursday, July 27th. The utilities provider reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.08. California Water Service Group Holding had a net margin of 9.17% and a return on equity of 8.78%. The company had revenue of $171.10 million for the quarter, compared to the consensus estimate 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. Analysts anticipate that California Water Service Group Holding will post $1.31 EPS for the current year.

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In related news, VP David B. Healey sold 1,000 shares of the stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $35.90, for a total transaction of $35,900.00. Following the completion of the sale, the vice president now directly owns 13,574 shares of the company’s stock, valued at approximately $487,306.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of CWT. GHP Investment Advisors Inc. boosted its position in shares of California Water Service Group Holding by 1.6% in the first quarter. GHP Investment Advisors Inc. now owns 72,122 shares of the utilities provider’s stock valued at $2,586,000 after buying an additional 1,146 shares in the last quarter. Baldwin Brothers Inc. MA acquired a new position in shares of California Water Service Group Holding during the first quarter valued at $368,000. Russell Investments Group Ltd. acquired a new position in shares of California Water Service Group Holding during the fourth quarter valued at $129,000. Principal Financial Group Inc. boosted its position in shares of California Water Service Group Holding by 4.3% in the first quarter. Principal Financial Group Inc. now owns 418,991 shares of the utilities provider’s stock valued at $15,021,000 after buying an additional 17,427 shares in the last quarter. Finally, State Street Corp boosted its position in shares of California Water Service Group Holding by 10.8% in the fourth quarter. State Street Corp now owns 1,133,219 shares of the utilities provider’s stock valued at $38,419,000 after buying an additional 110,306 shares in the last quarter. 68.45% of the stock is owned by institutional investors.

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

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