Shares of California Water Service Group (NYSE:CWT) have received an average rating of “Hold” from the eight analysts that are covering the firm, Marketbeat reports. Three analysts have rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $33.50.
Several equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of California Water Service Group from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. Hilliard Lyons lowered shares of California Water Service Group from a “neutral” rating to an “underperform” rating in a report on Wednesday, January 17th.
Several large investors have recently modified their holdings of CWT. Nuance Investments LLC boosted its stake in shares of California Water Service Group by 106.1% in the 3rd quarter. Nuance Investments LLC now owns 661,848 shares of the utilities provider’s stock valued at $25,250,000 after purchasing an additional 340,789 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of California Water Service Group in the 4th quarter valued at $4,621,000. Impax Asset Management LTD boosted its stake in shares of California Water Service Group by 4.0% in the 3rd quarter. Impax Asset Management LTD now owns 1,912,267 shares of the utilities provider’s stock valued at $72,953,000 after purchasing an additional 73,467 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of California Water Service Group by 27.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 330,104 shares of the utilities provider’s stock valued at $12,147,000 after purchasing an additional 71,424 shares in the last quarter. Finally, Chicago Equity Partners LLC acquired a new stake in shares of California Water Service Group in the 4th quarter valued at $3,062,000. Institutional investors own 69.71% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Monday, February 12th will be paid a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Friday, February 9th. This is an increase from California Water Service Group’s previous quarterly dividend of $0.18. California Water Service Group’s payout ratio is currently 50.35%.
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About California Water Service Group
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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