California Water Service Group (NYSE:CWT) Short Interest Update

California Water Service Group (NYSE:CWT) was the recipient of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 646,600 shares, an increase of 58.5% from the October 31st total of 407,900 shares. Based on an average daily volume of 278,000 shares, the short-interest ratio is currently 2.3 days.

Analyst Ratings Changes

Separately, StockNews.com lowered California Water Service Group from a “hold” rating to a “sell” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $53.67.

Insider Activity at California Water Service Group

In other news, VP Michael B. Luu sold 985 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $51.50, for a total transaction of $50,727.50. Following the completion of the sale, the vice president now directly owns 20,354 shares of the company’s stock, valued at $1,048,231. This trade represents a 4.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas M. Krummel sold 555 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $55.09, for a total value of $30,574.95. Following the completion of the sale, the director now directly owns 21,951 shares of the company’s stock, valued at approximately $1,209,280.59. The trade was a 2.47 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

Institutional Trading of California Water Service Group

Several hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. raised its stake in California Water Service Group by 117.0% during the 3rd quarter. Franklin Resources Inc. now owns 58,258 shares of the utilities provider’s stock valued at $3,100,000 after purchasing an additional 31,412 shares during the last quarter. Geode Capital Management LLC grew its position in California Water Service Group by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,337,966 shares of the utilities provider’s stock worth $72,559,000 after purchasing an additional 24,275 shares during the last quarter. Duff & Phelps Investment Management Co. increased its holdings in shares of California Water Service Group by 52.2% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 63,554 shares of the utilities provider’s stock worth $3,446,000 after purchasing an additional 21,791 shares during the period. Barclays PLC raised its position in shares of California Water Service Group by 135.8% during the third quarter. Barclays PLC now owns 119,645 shares of the utilities provider’s stock valued at $6,486,000 after buying an additional 68,914 shares during the last quarter. Finally, XTX Topco Ltd lifted its stake in shares of California Water Service Group by 58.3% in the third quarter. XTX Topco Ltd now owns 9,475 shares of the utilities provider’s stock valued at $514,000 after buying an additional 3,489 shares during the period. Institutional investors own 82.78% of the company’s stock.

California Water Service Group Trading Up 0.5 %

NYSE:CWT opened at $51.19 on Friday. The company’s 50 day moving average is $52.21 and its 200-day moving average is $51.85. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 0.64. California Water Service Group has a 12 month low of $43.50 and a 12 month high of $56.25. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of 14.79 and a beta of 0.49.

California Water Service Group (NYSE:CWT) last announced its earnings results on Thursday, October 31st. The utilities provider reported $1.03 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.02). California Water Service Group had a return on equity of 13.24% and a net margin of 19.56%. The firm had revenue of $299.60 million during the quarter, compared to the consensus estimate of $289.55 million. During the same quarter last year, the business earned $0.60 EPS. The business’s revenue was up 17.5% compared to the same quarter last year. Equities analysts anticipate that California Water Service Group will post 3.29 EPS for the current year.

California Water Service Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Tuesday, November 12th were given a dividend of $0.28 per share. The ex-dividend date was Tuesday, November 12th. This represents a $1.12 annualized dividend and a dividend yield of 2.19%. California Water Service Group’s dividend payout ratio is presently 32.37%.

About California Water Service Group

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 services.