California Water Service Group Holding (NYSE:CWT) shares fell 3.3% during trading on Thursday . The company traded as low as $33.75 and last traded at $33.81, with a volume of 122,579 shares. The stock had previously closed at $34.96.

A number of research firms recently commented on CWT. Zacks Investment Research cut California Water Service Group Holding from a “hold” rating to a “sell” rating in a report on Tuesday, May 3rd. Barclays PLC began coverage on California Water Service Group Holding in a report on Monday, April 4th. They issued an “equal weight” rating and a $29.00 price target on the stock. Finally, Janney Montgomery Scott cut California Water Service Group Holding from a “buy” rating to a “neutral” rating in a report on Tuesday, April 19th. They noted that the move was a valuation call. Six research analysts have rated the stock with a hold rating, California Water Service Group Holding presently has an average rating of “Hold” and a consensus target price of $28.00.

The stock has a 50 day moving average price of $31.62 and a 200-day moving average price of $27.25. The stock has a market cap of $1.64 billion and a price-to-earnings ratio of 38.31.

California Water Service Group Holding (NYSE:CWT) last released its earnings results on Thursday, April 28th. The company reported ($0.02) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by $0.05. The company earned $121.80 million during the quarter, compared to analysts’ expectations of $102.65 million. During the same period last year, the firm earned $0.03 earnings per share. California Water Service Group Holding’s quarterly revenue was down .2% compared to the same quarter last year. On average, analysts expect that California Water Service Group Holding will post $1.04 earnings per share for the current year.

In related news, VP David B. Healey sold 1,000 shares of the business’s stock in a transaction on Thursday, May 12th. The stock was sold at an average price of $28.61, for a total transaction of $28,610.00. Following the completion of the transaction, the vice president now directly owns 13,328 shares of the company’s stock, valued at approximately $381,314.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

A number of hedge funds and institutional investors recently added to or reduced their stakes in the company. BHF Kleinwort Benson Group S.A. bought a new position in California Water Service Group Holding during the fourth quarter valued at approximately $29,369,000. Baillie Gifford & Co. increased its stake in shares of California Water Service Group Holding by 5.2% in the fourth quarter. Baillie Gifford & Co. now owns 801,916 shares of the company’s stock worth $18,660,000 after buying an additional 39,540 shares during the period. OppenheimerFunds Inc. bought a new position in shares of California Water Service Group Holding during the fourth quarter valued at about $10,900,000. Monarch Partners Asset Management LLC boosted its position in shares of California Water Service Group Holding by 87.2% in the fourth quarter. Monarch Partners Asset Management LLC now owns 167,807 shares of the company’s stock valued at $3,905,000 after buying an additional 78,182 shares during the period. Finally, Russell Frank Co boosted its position in shares of California Water Service Group Holding by 4.4% in the fourth quarter. Russell Frank Co now owns 107,631 shares of the company’s stock valued at $2,570,000 after buying an additional 4,510 shares during the period.

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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