California Water Service Group (NYSE:CWT) Shares Cross Above 200 Day Moving Average – Time to Sell?

California Water Service Group (NYSE:CWT)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $44.68 and traded as high as $45.59. California Water Service Group shares last traded at $45.2640, with a volume of 434,531 shares trading hands.

Analysts Set New Price Targets

CWT has been the topic of several research analyst reports. Weiss Ratings upgraded shares of California Water Service Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, June 12th. Robert W. Baird set a $54.00 price target on shares of California Water Service Group in a report on Friday, May 1st. Finally, Wall Street Zen lowered shares of California Water Service Group from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $54.50.

California Water Service Group Trading Up 0.1%

The company has a debt-to-equity ratio of 0.87, a current ratio of 0.69 and a quick ratio of 0.65. The business has a 50-day moving average of $44.73 and a 200-day moving average of $44.68. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of 22.63, a P/E/G ratio of 1.66 and a beta of 0.53.

California Water Service Group (NYSE:CWT) last posted its quarterly earnings results on Thursday, April 30th. The utilities provider reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.18). California Water Service Group had a net margin of 11.77% and a return on equity of 7.06%. The company had revenue of $214.57 million during the quarter, compared to the consensus estimate of $210.27 million. During the same quarter in the prior year, the business earned $0.22 earnings per share. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. Research analysts anticipate that California Water Service Group will post 2.56 EPS for the current year.

California Water Service Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 11th were given a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Monday, May 11th. California Water Service Group’s dividend payout ratio (DPR) is 67.00%.

Insider Activity

In other news, Director Thomas M. Krummel sold 3,700 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $43.30, for a total transaction of $160,210.00. Following the transaction, the director directly owned 23,805 shares in the company, valued at $1,030,756.50. The trade was a 13.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lester A. Snow sold 1,100 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $44.00, for a total transaction of $48,400.00. Following the completion of the sale, the director directly owned 18,316 shares in the company, valued at approximately $805,904. The trade was a 5.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.78% of the stock is owned by insiders.

Hedge Funds Weigh In On California Water Service Group

Institutional investors have recently bought and sold shares of the business. Danske Bank A S bought a new stake in California Water Service Group in the third quarter valued at approximately $28,000. EverSource Wealth Advisors LLC boosted its stake in shares of California Water Service Group by 109.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 697 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 365 shares during the period. Bessemer Group Inc. boosted its stake in shares of California Water Service Group by 67.9% during the 1st quarter. Bessemer Group Inc. now owns 744 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 301 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in shares of California Water Service Group during the 3rd quarter worth approximately $43,000. Finally, Advisory Services Network LLC acquired a new position in shares of California Water Service Group during the 3rd quarter worth approximately $44,000. Institutional investors and hedge funds own 82.78% of the company’s stock.

About California Water Service Group

California Water Service Group (NYSE: CWT) is a publicly traded holding company that provides regulated water utility services through its subsidiaries. The company delivers safe, reliable drinking water and wastewater management to residential, commercial, industrial and municipal customers across California, Hawaii and New Mexico. Its principal operating units include California Water Service, New Mexico Water Service and Hawaii Water Service, each responsible for end‐to‐end water supply operations—from source development and treatment to distribution and customer service.

Founded in 1926 as the California Water Service Company, the group has grown to become one of the largest investor‐owned water utilities in the United States by customer count.