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Several other equities research analysts also recently issued reports on CWT. Bank of America initiated coverage on California Water Service Group in a research report on Wednesday, December 11th. They set a "buy" rating and a $57.00 target price on the stock. Wells Fargo & Company upgraded California Water Service Group from an "equal weight" rating to an "overweight" rating and decreased their price objective for the company from $56.00 to $52.00 in a research note on Tuesday, January 7th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $53.25.
Get Our Latest Analysis on California Water Service Group
NYSE CWT opened at $43.86 on Friday. The firm has a market cap of $2.61 billion, a P/E ratio of 12.68, a price-to-earnings-growth ratio of 0.46 and a beta of 0.52. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 0.64. The company's 50 day moving average is $45.57 and its 200-day moving average is $50.39. California Water Service Group has a 12-month low of $41.64 and a 12-month high of $56.25.
In related news, VP Michael B. Luu sold 985 shares of the firm's stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $51.50, for a total value of $50,727.50. Following 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.73% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. lifted its holdings in shares of California Water Service Group by 255.6% during the 3rd quarter. Blue Trust Inc. now owns 505 shares of the utilities provider's stock worth $27,000 after acquiring an additional 363 shares during the last quarter. GAMMA Investing LLC lifted its stake in California Water Service Group by 50.2% during the third quarter. GAMMA Investing LLC now owns 1,236 shares of the utilities provider's stock worth $67,000 after purchasing an additional 413 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of California Water Service Group in the 3rd quarter worth about $119,000. CWM LLC boosted its holdings in shares of California Water Service Group by 129.1% in the 3rd quarter. CWM LLC now owns 3,090 shares of the utilities provider's stock worth $168,000 after purchasing an additional 1,741 shares in the last quarter. Finally, Old Port Advisors bought a new position in shares of California Water Service Group during the 3rd quarter valued at about $202,000. Institutional investors own 82.78% of the company's stock.
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.
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