California Water Service Group (CWT) VP David B. Healey Sells 1,000 Shares

California Water Service Group (NYSE:CWT) VP David B. Healey sold 1,000 shares of the company’s stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $41.76, for a total value of $41,760.00. Following the transaction, the vice president now directly owns 14,492 shares of the company’s stock, valued at $605,185.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

NYSE CWT traded up $0.50 during trading hours on Friday, hitting $42.50. 160,205 shares of the company traded hands, compared to its average volume of 157,654. California Water Service Group has a twelve month low of $35.25 and a twelve month high of $46.15. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.29 and a current ratio of 0.30. The stock has a market capitalization of $1.98 billion, a PE ratio of 30.36, a price-to-earnings-growth ratio of 4.71 and a beta of 0.54.

California Water Service Group (NYSE:CWT) last issued its quarterly earnings results on Thursday, July 26th. The utilities provider reported $0.27 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.08). California Water Service Group had a net margin of 8.55% and a return on equity of 8.44%. The company had revenue of $172.63 million for the quarter, compared to analyst estimates of $172.30 million. During the same period last year, the company posted $0.39 earnings per share. The business’s revenue for the quarter was up .9% on a year-over-year basis. research analysts forecast that California Water Service Group will post 1.25 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, August 17th. Investors of record on Monday, August 6th were given a dividend of $0.1875 per share. The ex-dividend date of this dividend was Friday, August 3rd. This represents a $0.75 annualized dividend and a yield of 1.76%. California Water Service Group’s dividend payout ratio (DPR) is presently 53.57%.

Several brokerages recently commented on CWT. Wells Fargo & Co began coverage on California Water Service Group in a research report on Monday, August 27th. They set a “market perform” rating for the company. Zacks Investment Research cut California Water Service Group from a “hold” rating to a “sell” rating in a research report on Monday, July 30th. Finally, ValuEngine cut California Water Service Group from a “buy” rating to a “hold” rating in a research report on Wednesday, June 6th. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. California Water Service Group has an average rating of “Hold” and an average target price of $39.25.

A number of hedge funds and other institutional investors have recently modified their holdings of CWT. Rhumbline Advisers boosted its position in California Water Service Group by 2.0% during the first quarter. Rhumbline Advisers now owns 116,317 shares of the utilities provider’s stock valued at $4,333,000 after purchasing an additional 2,277 shares during the last quarter. SG Americas Securities LLC bought a new stake in California Water Service Group in the first quarter valued at approximately $199,000. Mackay Shields LLC bought a new stake in California Water Service Group in the first quarter valued at approximately $779,000. Trexquant Investment LP bought a new stake in California Water Service Group in the first quarter valued at approximately $745,000. Finally, Victory Capital Management Inc. raised its stake in California Water Service Group by 306.2% in the first quarter. Victory Capital Management Inc. now owns 27,801 shares of the utilities provider’s stock valued at $1,036,000 after buying an additional 20,956 shares during the period. 71.81% of the stock is owned by hedge funds and other institutional investors.

About California Water Service Group

California Water Service Group, through its subsidiaries, provides water utility and other related services in California, Washington, New Mexico, and Hawaii. It is involved in the production, purchase, storage, treatment, testing, distribution, and sale of water for domestic, industrial, public, and irrigation uses, as well as for fire protection.

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