The stock of California Water Service Group (NYSE:CWT) reached all time high today, Nov, 22 and still has $37.34 target or 3.00% above today’s $36.25 share price. This indicates more upside for the $1.75 billion company. This technical setup was reported by Barchart.com. If the $37.34 PT is reached, the company will be worth $52.50M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 90,464 shares traded hands. California Water Service Group (NYSE:CWT) has risen 26.17% since April 20, 2016 and is uptrending. It has outperformed by 21.61% the S&P500.
California Water Service Group (NYSE:CWT) Ratings Coverage
Out of 5 analysts covering California Water Service (NYSE:CWT), 1 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 20% are positive. California Water Service has been the topic of 7 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The rating was downgraded by Robert W. Baird to “Neutral” on Friday, February 26. On Monday, March 7 the stock rating was downgraded by Gabelli to “Hold”. The firm has “Buy” rating by Hilliard Lyons given on Monday, August 3. Robert W. Baird initiated California Water Service Group (NYSE:CWT) rating on Friday, October 14. Robert W. Baird has “Neutral” rating and $33 price target. The firm has “Equal Weight” rating given on Tuesday, September 6 by Barclays Capital. Janney Capital downgraded the stock to “Neutral” rating in Tuesday, April 19 report. The company was initiated on Monday, April 4 by Barclays Capital.
According to Zacks Investment Research, “California Water Service Company’s business, which is carried on through its operating subsidiaries, consists of the production, purchase, storage, purification, distribution and sale of water for domestic, industrial, public and irrigation uses, and for fire protection. It also provides water related services under agreements with municipalities and other private companies. The nonregulated services include full water system operation, and billing and meter reading services.”
Insitutional Activity: The institutional sentiment increased to 1.17 in Q2 2016. Its up 0.18, from 0.99 in 2016Q1. The ratio is positive, as 22 funds sold all California Water Service Group shares owned while 51 reduced positions. 17 funds bought stakes while 55 increased positions. They now own 33.77 million shares or 0.87% more from 33.48 million shares in 2016Q1.
Ny State Teachers Retirement Systems reported 34,931 shares or 0% of all its holdings. New York State Common Retirement Fund reported 46,200 shares or 0% of all its holdings. Renaissance Techs Limited Liability Corporation holds 0.01% of its portfolio in California Water Service Group (NYSE:CWT) for 224,000 shares. Us Fincl Bank De has invested 0% of its portfolio in California Water Service Group (NYSE:CWT). Teachers Retirement System Of The State Of Kentucky, a Kentucky-based fund reported 11,600 shares. The United Kingdom-based Barclays Public Limited Company has invested 0% in California Water Service Group (NYSE:CWT). Beech Hill Advisors holds 0.17% of its portfolio in California Water Service Group (NYSE:CWT) for 7,151 shares. Brookfield Asset Management accumulated 0.03% or 144,400 shares. Tortoise Advsrs Ltd Liability holds 0% or 99 shares in its portfolio. Hl Limited Liability Com holds 15,300 shares or 0.01% of its portfolio. Vanguard Gru last reported 0.01% of its portfolio in the stock. Glenmede Tru Na reported 77 shares or 0% of all its holdings. The Ontario – Canada-based Td Asset Management has invested 0% in California Water Service Group (NYSE:CWT). Neuberger Berman Group Limited Liability Com, a New York-based fund reported 9,960 shares. Blackrock Fund has 0.02% invested in the company for 3.13 million shares.
Insider Transactions: Since June 13, 2016, the stock had 6 buys, and 1 sale for $16,036 net activity. VERA GEORGE A bought $95 worth of stock. Treloar Timothy D had sold 518 shares worth $16,610.
More recent California Water Service Group (NYSE:CWT) news were published by: Forbes.com which released: “Ex-Dividend Reminder: SJW, FirstEnergy and California Water Service Group” on November 01, 2016. Also Nasdaq.com published the news titled: “California Water Service Group Holding Q3 Profit Falls 9%” on October 27, 2016. Nasdaq.com‘s news article titled: “California Water Service Group Reaches Analyst Target Price” with publication date: November 14, 2016 was also an interesting one.
CWT Company Profile
California Water Service Group, incorporated on August 2, 1999, is a holding company. The Firm operates through supply and distribution of water, and providing water-related utility services segment. The Company, through its subsidiaries, provides water utility and other related services in California, Washington, New Mexico and Hawaii. The Company’s subsidiaries include California Water Service Company (Cal Water), New Mexico Water Service Company (New Mexico Water), Washington Water Service Company (Washington Water), Hawaii Water Service Company, Inc. (Hawaii Water), and CWS Utility Services and HWS Utility Services LLC (collectively, Utility Services). Cal Water, New Mexico Water, Washington Water and Hawaii Water are regulated public utilities. The regulated utility entities also provide some non-regulated services. Utility Services provides non-regulated services to private companies and municipalities.
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