California Water Service Group (CWT)
Operates regulated water and wastewater utilities across five western states.
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Supplies regulated water and wastewater services through local utilities in California, Hawaii, New Mexico, Washington, and Texas, alongside smaller contract operations and related services. California contributes most customer connections and revenue, while state commissions determine rates and recovery of infrastructure investment.
Supplies drinking water and, in selected communities, wastewater collection and treatment through Cal Water, Hawaii Water, New Mexico Water, Washington Water, and Texas Water. Regulated utilities produce, purchase, store, test, treat, and distribute water, while smaller non-regulated operations run third-party systems, meter accounts, and provide billing and laboratory services.
Serves communities across California, Hawaii, New Mexico, Washington, and Texas, with California accounting for most customer connections and revenue. The operating model centers on maintaining and replacing pipes, wells, storage, treatment, and other local utility infrastructure; system acquisitions extend the western footprint.
Rates and investment recovery require approval from state utility commissions, while operations depend on reliable purchased and groundwater supplies and compliance with drinking-water and wastewater standards.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 12, 2026 | Seaport Global | Reiterate | Rating: —Target: — | Target: $53 |
| May 1, 2026 | Robert W. Baird | Target | Target: $55 | Target: $54 |
| Oct 31, 2025 | Robert W. Baird | Target | Target: — | Target: $55 |
| Apr 11, 2025 | Seaport Global | Upgrade | ||
| Jan 7, 2025 | Wells Fargo | Upgrade | Target: $57 | Target: $52 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $43.4M · Total debt $1.68B · Total assets $5.95B · Shareholders' equity $1.81B
- Revenue
- $308.6M
- Operating income
- $88.2M
- Net income
- $56.5M
HistoryDividendAnnual yield
| Institutions | 90.60% | 56.03M shares | |
|---|---|---|---|
| 346 holders · as of Jun 30, 2026 | |||
| Insiders | 0.77% | 475.8K shares | |
| 26 holders · as of Sep 8, 2026 | |||
| Other | 8.63% | 5.34M shares | |
| remainder | |||
61.84M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 17.39% | 10.76M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 7.08% | 4.38M | as of Jun 30, 2026 |
T. Rowe Price Investment Management, Inc.Institution | 5.69% | 3.52M | as of Jun 30, 2026 |
AmundiInstitution | 5.64% | 3.49M | as of Jun 30, 2026 |
State Street CorpInstitution | 5.28% | 3.27M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 1, 2026 | Lester A. Snow | director | −500 | $50.21 |
| Aug 13, 2026 | Thomas M. Krummel | director | −3,700 | $50.37 |
| May 27, 2026 | Lester A. Snow | director | −1,100 | $44.00 |
| May 21, 2026 | Thomas M. Krummel | director | −3,700 | $43.30 |
| Mar 20, 2026 | Michael S. JR Mares | officer: Vice President, Operations | −3,892 | $44.00 |
- American Water Works
Largest U.S. regulated water peer across utility scale and M&A
- American States Water
California water utility peer with CPUC-regulated overlap
- H2O America
Bay Area and Texas regulated water/wastewater peer
- Essential Utilities
Regulated water/wastewater peer through Aqua
- Middlesex Water
Regulated water peer with wastewater and contract-operations overlap
- Global Water Resources
Western water, wastewater, and recycled-water utility peer
CompareAfter hours
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| California Water Service Group | $47.35 | +0.20% | $2.92B | 21.3 | 18.1 | 2.8 | +16.5% |
| American Water Works | $133.82 | −0.01% | $26.62B | 23.2 | 21.9 | 5.0 | +6.2% |
| American States Water | $84.39 | −0.01% | $3.33B | 23.2 | 22.7 | 4.8 | +11.2% |
| H2O America | $62.92 | −0.05% | $2.62B | 22.0 | 23.0 | 3.2 | +6.2% |
| Essential Utilities | $40.44 | +0.10% | $11.48B | 20.7 | 17.5 | 4.5 | +3.1% |
| Middlesex Water | $54.92 | +0.07% | $1.04B | 21.2 | 20.9 | 5.0 | +14.3% |
| Global Water Resources | $8.29 | −0.06% | $241.9M | 76.4 | 74.3 | 4.0 | +24.8% |
| Median | 22.6 | 22.3 | 4.6 | +8.7% |