California Water Service Group (NYSE:CWT) director Thomas M. Krummel has recently sold a portion of his holdings in the company, according to the latest regulatory filings. The transaction, which took place on May 15, 2024, involved Krummel parting with 555 shares of common stock at a weighted average price of $53.2557 per share.
The sale was executed across multiple trades, with prices ranging from $53.09 to $53.50. The total value of the shares sold by Krummel amounted to approximately $29,556. This move has adjusted Krummel's ownership in the company to a total of 23,318 shares following the transaction.
California Water Service Group, based in San Jose, California, is known for its involvement in the water supply sector. The company has a strong presence in the industry and is incorporated in Delaware.
Investors often monitor the buying and selling activities of company insiders as these transactions can provide insight into their perspective on the company's future performance. However, it's important to note that there can be many reasons for an insider to sell shares, and such transactions do not necessarily indicate a lack of confidence in the company.
For those interested in following the stock, California Water Service Group trades under the ticker symbol CWT on the New York Stock Exchange. The company's stock performance and further insider transactions can be tracked for a clearer picture of its financial health and insider confidence.
InvestingPro Insights
Amidst the insider transactions at California Water Service Group (NYSE:CWT), investors seeking to understand the company's financial health can look to key metrics and insights. The company currently boasts a market capitalization of $3.05 billion, reflecting its significant standing in the water supply sector. With a P/E ratio of 21.06 and a slight increase to 21.21 when adjusted for the last twelve months as of Q1 2024, CWT is trading at a valuation that aligns with its near-term earnings growth. Moreover, the company's revenue growth for the same period stands at a robust 16.13%, highlighting its upward trajectory in sales.
InvestingPro Tips reveal that California Water Service Group has a history of rewarding its shareholders, having raised its dividend for a remarkable 31 consecutive years. This is further supported by the company maintaining dividend payments for an impressive 54 consecutive years. For investors prioritizing income, this consistency in dividend payments may be particularly appealing. Additionally, analysts anticipate both net income and sales growth in the current year, which could signal a positive outlook for the company's profitability.
For those considering an investment in CWT, the company's strong return over the last month, which stands at 19.59%, suggests a positive short-term performance. However, it is essential to consider that the company's short-term obligations exceed its liquid assets, which could pose a risk for meeting immediate financial liabilities. Investors looking for more insights can find additional InvestingPro Tips by visiting Investing.com, where there are 9 tips in total that could further guide investment decisions. Use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, offering a comprehensive analysis of CWT's financial outlook.
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