California Water Service Group (CWT) VP Michael B. Luu Sells 2,400 Shares of Stock

California Water Service Group (NYSE:CWT) VP Michael B. Luu sold 2,400 shares of the stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $34.47, for a total value of $82,728.00. Following the transaction, the vice president now directly owns 8,532 shares in the company, valued at approximately $294,098.04. The transaction was disclosed in a filing with the SEC, which is available at this link.

Shares of California Water Service Group (NYSE:CWT) traded up 0.58% during midday trading on Monday, hitting $34.95. The company had a trading volume of 108,043 shares. California Water Service Group has a 12 month low of $25.42 and a 12 month high of $37.60. The company has a 50-day moving average of $35.05 and a 200 day moving average of $33.41. The firm has a market capitalization of $1.68 billion, a PE ratio of 34.60 and a beta of 0.65.

California Water Service Group (NYSE:CWT) last announced its quarterly earnings data on Thursday, February 23rd. The company reported $0.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.11. California Water Service Group had a return on equity of 6.56% and a net margin of 7.05%. The firm had revenue of $150.90 million for the quarter, compared to the consensus estimate of $146.33 million. During the same quarter last year, the business posted $0.18 earnings per share. The firm’s revenue was up 9.0% compared to the same quarter last year. On average, analysts expect that California Water Service Group will post $1.30 EPS for the current fiscal year.

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Institutional investors have recently made changes to their positions in the company. BlackRock Fund Advisors increased its position in shares of California Water Service Group by 8.3% in the third quarter. BlackRock Fund Advisors now owns 3,384,620 shares of the company’s stock worth $108,612,000 after buying an additional 258,291 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of California Water Service Group by 1.4% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,206,055 shares of the company’s stock worth $38,702,000 after buying an additional 16,878 shares during the last quarter. State Street Corp increased its position in shares of California Water Service Group by 10.8% in the fourth quarter. State Street Corp now owns 1,133,219 shares of the company’s stock worth $38,419,000 after buying an additional 110,306 shares during the last quarter. Zacks Investment Management increased its position in shares of California Water Service Group by 1.8% in the third quarter. Zacks Investment Management now owns 425,628 shares of the company’s stock worth $13,658,000 after buying an additional 7,623 shares during the last quarter. Finally, Baillie Gifford & Co. increased its position in shares of California Water Service Group by 1.8% in the fourth quarter. Baillie Gifford & Co. now owns 412,650 shares of the company’s stock worth $13,989,000 after buying an additional 7,260 shares during the last quarter. Hedge funds and other institutional investors own 68.63% of the company’s stock.

CWT has been the topic of a number of recent research reports. Macquarie initiated coverage on California Water Service Group in a research report on Wednesday, January 18th. They set a “neutral” rating and a $32.00 price target on the stock. Zacks Investment Research raised California Water Service Group from a “sell” rating to a “hold” rating in a research report on Tuesday, January 10th. Wells Fargo & Co downgraded California Water Service Group from a “market perform” rating to an “underperform” rating in a research report on Friday, February 24th. They noted that the move was a valuation call. Hilliard Lyons downgraded California Water Service Group from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 23rd. Finally, Gabelli raised California Water Service Group from a “hold” rating to a “buy” rating in a research report on Thursday, February 16th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $33.20.

About California Water Service Group

California Water Service Group is a holding company that provides water utility and other related services in California, Washington, New Mexico and Hawaii through its subsidiaries. It operates through supply and distribution of water, and providing water-related utility services segment. Its business comprises the production, purchase, storage, treatment, testing, distribution and sale of water for domestic, industrial, public and irrigation uses, and for fire protection.

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