California Water Service Group (NYSE:CWT) Hits New 12-Month Low at $49.17

California Water Service Group (NYSE:CWTGet Rating)’s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $49.17 and last traded at $49.39, with a volume of 949 shares trading hands. The stock had previously closed at $50.97.

Separately, StockNews.com initiated coverage on California Water Service Group in a research report on Thursday, March 31st. They issued a “hold” rating for the company.

The company has a debt-to-equity ratio of 0.90, a current ratio of 0.97 and a quick ratio of 0.93. The stock has a market capitalization of $2.62 billion, a P/E ratio of 24.99 and a beta of 0.35. The firm has a 50-day simple moving average of $54.13 and a 200 day simple moving average of $59.56.

California Water Service Group (NYSE:CWTGet Rating) last issued its quarterly earnings data on Thursday, April 28th. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). California Water Service Group had a return on equity of 9.41% and a net margin of 12.90%. The company had revenue of $172.99 million for the quarter, compared to the consensus estimate of $154.00 million. During the same quarter last year, the business earned ($0.06) earnings per share. Sell-side analysts anticipate that California Water Service Group will post 1.83 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 20th. Stockholders of record on Monday, May 9th were given a dividend of $0.25 per share. The ex-dividend date was Friday, May 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.05%. California Water Service Group’s dividend payout ratio (DPR) is 49.02%.

In other California Water Service Group news, VP David B. Healey sold 500 shares of California Water Service Group stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $53.15, for a total value of $26,575.00. Following the completion of the sale, the vice president now directly owns 16,046 shares in the company, valued at $852,844.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Robert J. Kuta sold 1,365 shares of California Water Service Group stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $55.14, for a total value of $75,266.10. Following the completion of the sale, the vice president now owns 12,094 shares of the company’s stock, valued at $666,863.16. The disclosure for this sale can be found here. Insiders have sold 2,065 shares of company stock valued at $112,865 over the last 90 days. 0.97% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the business. Aptus Capital Advisors LLC increased its holdings in California Water Service Group by 23.6% in the fourth quarter. Aptus Capital Advisors LLC now owns 42,923 shares of the utilities provider’s stock worth $3,084,000 after purchasing an additional 8,190 shares in the last quarter. Barclays PLC boosted its position in shares of California Water Service Group by 33.5% during the fourth quarter. Barclays PLC now owns 70,891 shares of the utilities provider’s stock valued at $5,095,000 after buying an additional 17,806 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its holdings in California Water Service Group by 261.7% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 109,967 shares of the utilities provider’s stock worth $7,848,000 after acquiring an additional 79,567 shares during the period. Wellington Management Group LLP bought a new stake in California Water Service Group during the third quarter worth $553,000. Finally, Renaissance Technologies LLC bought a new stake in California Water Service Group during the third quarter worth $2,787,000. Institutional investors and hedge funds own 77.36% of the company’s stock.

California Water Service Group Company Profile (NYSE:CWT)

California Water Service Group, through its subsidiaries, provides water utility and other related services in California, Washington, New Mexico, Hawaii, and Texas. The company 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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