California Water Service Group Holding (NYSE:CWT) Upgraded by Zacks Investment Research to “Buy”

California Water Service Group Holding (NYSE:CWT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, October 27th. The brokerage presently has a $48.00 target price on the utilities provider’s stock. Zacks Investment Research‘s price target indicates a potential upside of 10.60% from the stock’s current price.

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. “

CWT has been the subject of several other reports. BidaskClub downgraded shares of California Water Service Group Holding from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Barclays PLC upped their price target on shares of California Water Service Group Holding from $30.00 to $32.00 and gave the company an “underweight” rating in a research report on Friday, September 22nd. US Capital Advisors reissued a “hold” rating on shares of California Water Service Group Holding in a research report on Monday, July 17th. Finally, Robert W. Baird reissued a “hold” rating and set a $35.00 price objective on shares of California Water Service Group Holding in a research report on Sunday, September 3rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $36.75.

California Water Service Group Holding (NYSE:CWT) traded up $0.40 on Friday, hitting $43.40. The company’s stock had a trading volume of 223,700 shares, compared to its average volume of 156,636. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.47 and a quick ratio of 0.46. The firm has a market cap of $2,064.65, a P/E ratio of 30.28, a price-to-earnings-growth ratio of 5.83 and a beta of 0.72. California Water Service Group Holding has a 1 year low of $32.45 and a 1 year high of $43.75.

California Water Service Group Holding (NYSE:CWT) last issued its quarterly earnings data on Thursday, October 26th. The utilities provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. California Water Service Group Holding had a return on equity of 10.31% and a net margin of 10.46%. The company had revenue of $211.70 million during the quarter, compared to analysts’ expectations of $203.00 million. During the same quarter in the previous year, the company posted $0.48 earnings per share. The business’s revenue was up 14.9% on a year-over-year basis. research analysts expect that California Water Service Group Holding will post 1.34 EPS for the current year.

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In other news, VP Lynne P. Mcghee sold 1,605 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $37.61, for a total transaction of $60,364.05. Following the completion of the sale, the vice president now owns 19,660 shares in the company, valued at approximately $739,412.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Lynne P. Mcghee sold 1,079 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $36.94, for a total transaction of $39,858.26. Following the completion of the transaction, the vice president now directly owns 18,581 shares of the company’s stock, valued at $686,382.14. The disclosure for this sale can be found here. Company insiders own 0.97% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Accurate Investment Solutions Inc. boosted its holdings in California Water Service Group Holding by 0.3% in the 2nd quarter. Accurate Investment Solutions Inc. now owns 2,917 shares of the utilities provider’s stock valued at $107,000 after purchasing an additional 8 shares during the period. Creative Planning lifted its holdings in shares of California Water Service Group Holding by 0.4% during the 2nd quarter. Creative Planning now owns 9,946 shares of the utilities provider’s stock worth $366,000 after acquiring an additional 43 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its holdings in shares of California Water Service Group Holding by 1.7% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 10,960 shares of the utilities provider’s stock worth $393,000 after acquiring an additional 180 shares during the last quarter. Amalgamated Bank lifted its holdings in shares of California Water Service Group Holding by 3.3% during the 2nd quarter. Amalgamated Bank now owns 6,621 shares of the utilities provider’s stock worth $244,000 after acquiring an additional 209 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of California Water Service Group Holding by 5.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,575 shares of the utilities provider’s stock worth $164,000 after acquiring an additional 225 shares during the last quarter. 68.14% 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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