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

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 brokerages have also recently issued reports on CWT. BidaskClub raised California Water Service Group Holding from a “hold” rating to a “buy” rating in a report on Friday, June 9th. Gabelli cut California Water Service Group Holding from a “buy” rating to a “hold” rating in a report on Friday, April 28th. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. California Water Service Group Holding presently has a consensus rating of “Hold” and an average target price of $33.20.

Shares of California Water Service Group Holding (NYSE CWT) traded up 0.82% during mid-day trading on Tuesday, hitting $37.10. 163,677 shares of the company’s stock were exchanged. California Water Service Group Holding has a 52 week low of $29.25 and a 52 week high of $39.40. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of 35.33 and a beta of 0.68. The firm has a 50 day moving average price of $35.58 and a 200-day moving average price of $35.09.

California Water Service Group Holding (NYSE:CWT) last issued its quarterly earnings data on Thursday, April 27th. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.05 by $0.03. The company had revenue of $122.04 million for the quarter, compared to the consensus estimate of $128.30 million. California Water Service Group Holding had a net margin of 8.30% and a return on equity of 7.79%. The firm’s revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.02) earnings per share. On average, equities analysts anticipate that California Water Service Group Holding will post $1.30 EPS for the current year.

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In other California Water Service Group Holding news, VP David B. Healey sold 1,000 shares of the business’s stock in a transaction dated 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the company. LS Investment Advisors LLC boosted its stake in shares of California Water Service Group Holding by 62.5% in the first quarter. LS Investment Advisors LLC now owns 2,782 shares of the utilities provider’s stock valued at $100,000 after buying an additional 1,070 shares in the last quarter. Gierl Augustine Investment Management Inc boosted its stake in shares of California Water Service Group Holding by 0.3% in the first quarter. Gierl Augustine Investment Management Inc now owns 2,909 shares of the utilities provider’s stock valued at $104,000 after buying an additional 8 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of California Water Service Group Holding during the fourth quarter valued at $129,000. Ameritas Investment Partners Inc. purchased a new stake in shares of California Water Service Group Holding during the first quarter valued at $149,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of California Water Service Group Holding by 5.2% in the first quarter. PNC Financial Services Group Inc. now owns 4,575 shares of the utilities provider’s stock valued at $164,000 after buying an additional 225 shares in the last quarter. 68.53% of the stock is owned by hedge funds and other 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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