Today: Today, Prudential Financial Inc. invests in 2,420 by purchasing California Water Service Group Holding (CWT) shares

Today, Prudential Financial Inc. invests in 2,420 by purchasing California Water  Service Group Holding (CWT) shares

Prudential Financial Inc. raised its position in shares of California Water Service Group Holding (NYSE:CWT) by 2.1% during the second quarter, Holdings Channel reports. The institutional investor owned 117,131 shares of the company’s stock after buying an additional 2,420 shares during the period. Prudential Financial Inc. owned 0.24% of California Water Service Group Holding worth $4,091,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. PNC Financial Services Group Inc. increased its stake in California Water Service Group Holding by 6.2% in the second quarter. PNC Financial Services Group Inc. now owns 3,428 shares of the company’s stock worth $120,000 after buying an additional 200 shares in the last quarter. M&T Bank Corp acquired a new stake in California Water Service Group Holding during the second quarter worth approximately $227,000. OLD National Bancorp IN acquired a new stake in California Water Service Group Holding during the second quarter worth approximately $228,000. Teacher Retirement System of Texas increased its stake in California Water Service Group Holding by 17.5% in the second quarter. Teacher Retirement System of Texas now owns 6,719 shares of the company’s stock worth $235,000 after buying an additional 1,003 shares in the last quarter. Finally, Beech Hill Advisors Inc. acquired a new stake in California Water Service Group Holding during the second quarter worth approximately $250,000. Institutional investors own 73.30% of the company’s stock.

Shares of California Water Service Group Holding (NYSE:CWT) opened at 32.11 on Tuesday. California Water Service Group Holding has a 12-month low of $21.01 and a 12-month high of $35.62. The company has a 50 day moving average price of $31.58 and a 200 day moving average price of $30.86. The stock has a market cap of $1.54 billion, a P/E ratio of 34.90 and a beta of 0.54.

California Water Service Group Holding (NYSE:CWT) last issued its earnings results on Thursday, July 28th. The company reported $0.24 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.24. California Water Service Group Holding had a return on equity of 6.94% and a net margin of 7.43%. The company earned $152.40 million during the quarter, compared to the consensus estimate of $121.55 million. During the same period in the previous year, the firm posted $0.21 earnings per share. California Water Service Group Holding’s quarterly revenue was up 5.5% compared to the same quarter last year. Analysts anticipate that California Water Service Group Holding will post $1.04 earnings per share for the current fiscal year.

A number of research firms have commented on CWT. Zacks Investment Research upgraded California Water Service Group Holding from a “sell” rating to a “hold” rating in a research report on Tuesday, June 28th. Robert W. Baird began coverage on California Water Service Group Holding in a research report on Friday. They issued a “neutral” rating and a $33.00 target price on the stock. Hilliard Lyons upgraded California Water Service Group Holding from a “neutral” rating to a “buy” rating and set a $36.00 target price on the stock in a research report on Monday, October 10th. Finally, Barclays PLC reduced their target price on California Water Service Group Holding from $33.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 6th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $33.60.

California Water Service Group Holding Company Profile

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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