California Water Service Group Holding (CWT) Stake Lessened by Metropolitan Life Insurance Co. NY

Metropolitan Life Insurance Co. NY decreased its holdings in California Water Service Group Holding (NYSE:CWT) by 52.6% during the 4th quarter, Holdings Channel reports. The firm owned 15,500 shares of the utilities provider’s stock after selling 17,206 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in California Water Service Group were worth $703,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CWT. SeaCrest Wealth Management LLC bought a new position in shares of California Water Service Group in the 4th quarter valued at $106,000. CoreCommodity Management LLC acquired a new stake in shares of California Water Service Group during the 4th quarter valued at $146,000. SG Americas Securities LLC acquired a new stake in shares of California Water Service Group during the 3rd quarter valued at $160,000. HPM Partners LLC acquired a new stake in shares of California Water Service Group during the 4th quarter valued at $204,000. Finally, ACG Wealth acquired a new stake in shares of California Water Service Group during the 4th quarter valued at $207,000. Institutional investors own 70.11% of the company’s stock.

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Several equities research analysts recently weighed in on CWT shares. Zacks Investment Research downgraded California Water Service Group from a “hold” rating to a “sell” rating in a report on Thursday, February 15th. Hilliard Lyons downgraded California Water Service Group from a “neutral” rating to an “underperform” rating in a report on Wednesday, January 17th. ValuEngine raised California Water Service Group from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. UBS started coverage on California Water Service Group in a report on Thursday, March 8th. They set a “sell” rating and a $34.00 price objective on the stock. Finally, Wells Fargo raised California Water Service Group from an “underperform” rating to a “market perform” rating and set a $35.00 price objective on the stock in a report on Monday, April 2nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. California Water Service Group currently has an average rating of “Hold” and a consensus price target of $36.60.

In other California Water Service Group news, VP Lynne P. Mcghee sold 1,000 shares of California Water Service Group stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $36.74, for a total transaction of $36,740.00. Following the transaction, the vice president now directly owns 20,179 shares of the company’s stock, valued at approximately $741,376.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director George A. Vera bought 869 shares of the business’s stock in a transaction on Tuesday, March 6th. The shares were bought at an average cost of $35.40 per share, for a total transaction of $30,762.60. Following the completion of the acquisition, the director now directly owns 41,509 shares in the company, valued at approximately $1,469,418.60. The disclosure for this purchase can be found here. Insiders have acquired a total of 874 shares of company stock worth $30,962 over the last ninety days. Company insiders own 1.00% of the company’s stock.

NYSE CWT opened at $37.00 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.45 and a current ratio of 0.46. California Water Service Group Holding has a twelve month low of $32.75 and a twelve month high of $46.15. The firm has a market cap of $1,776.41, a P/E ratio of 26.43, a PEG ratio of 4.31 and a beta of 0.65.

California Water Service Group (NYSE:CWT) last announced its earnings results on Thursday, March 1st. The utilities provider reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.06. The firm had revenue of $162.00 million for the quarter, compared to the consensus estimate of $155.89 million. California Water Service Group had a return on equity of 9.97% and a net margin of 10.07%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.31 EPS. analysts forecast that California Water Service Group Holding will post 1.43 earnings per share for the current fiscal year.

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California Water Service Group Profile

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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Institutional Ownership by Quarter for California Water  Service Group (NYSE:CWT)

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