Shares of California Water Service Group Holding (NYSE:CWT) gapped down before the market opened on Tuesday . The stock had previously closed at $31.91, but opened at $31.93. California Water Service Group Holding shares last traded at $32.17, with a volume of 98,937 shares changing hands.

Several analysts recently weighed in on CWT shares. Zacks Investment Research upgraded California Water Service Group Holding from a “sell” rating to a “hold” rating in a report on Tuesday, June 28th. Barclays PLC reduced their target price on California Water Service Group Holding from $33.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Tuesday, September 6th. Six investment analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and an average target price of $30.75.

The firm has a market cap of $1.54 billion, a price-to-earnings ratio of 35.00 and a beta of 0.59. The firm has a 50 day moving average price of $31.37 and a 200-day moving average price of $30.08.

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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 (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.24. The firm had revenue of $152.40 million for the quarter, compared to analyst estimates of $121.55 million. California Water Service Group Holding had a return on equity of 6.94% and a net margin of 7.43%. The business’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.21 earnings per share. Equities research analysts expect that California Water Service Group Holding will post $1.04 EPS for the current year.

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of California Water Service Group Holding by 6.8% in the second quarter. Vanguard Group Inc. now owns 4,419,785 shares of the company’s stock worth $154,384,000 after buying an additional 282,307 shares in the last quarter. BlackRock Fund Advisors raised its stake in shares of California Water Service Group Holding by 4.5% in the second quarter. BlackRock Fund Advisors now owns 3,126,329 shares of the company’s stock worth $109,203,000 after buying an additional 134,954 shares in the last quarter. Pictet Asset Management Ltd. raised its stake in shares of California Water Service Group Holding by 3.9% in the first quarter. Pictet Asset Management Ltd. now owns 2,873,978 shares of the company’s stock worth $71,045,000 after buying an additional 108,101 shares in the last quarter. Impax Asset Management LTD raised its stake in shares of California Water Service Group Holding by 2.2% in the second quarter. Impax Asset Management LTD now owns 1,850,607 shares of the company’s stock worth $64,642,000 after buying an additional 39,706 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of California Water Service Group Holding by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,604,341 shares of the company’s stock worth $56,037,000 after buying an additional 15,539 shares in the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

About California Water Service Group Holding

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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