MIRAE ASSET Global Investments Co. Ltd. Takes $1.02 Million Position In California Water Service Group

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CALIFORNIA WATER SERVICE ($NYSE:CWT) GROUP is a holding company that provides water utility and wastewater service in California, Washington, and Hawaii through its subsidiaries.

Price History

So far, media sentiment surrounding the company has been mostly positive. On Friday, CALIFORNIA WATER SERVICE stock opened at $52.3 and closed at $53.4, up by 3.4% from the prior closing price of 51.7.

VI Analysis

California Water Service is a low risk investment in terms of financial and business aspects, according to the VI Risk Rating. The company’s fundamentals reflect its long term potential. However, the VI App has detected 3 risk warnings in income sheet, balance sheet, cashflow statement. Register on vi.app to check it out.

VI Peers

In recent years, the water utility industry has seen increased competition, particularly in the state of California. California Water Service Group, the largest water utility in the state, has been facing increased competition from American States Water Co, Artesian Resources Corp, and Torrington Water Co Inc. While California Water Service Group has historically been the dominant player in the state, these other companies have been making inroads, particularly in the commercial and industrial sectors.

– American States Water Co ($NYSE:AWR)

American States Water Co is a publicly traded water and wastewater utility company. Headquartered in San Dimas, California, the company serves approximately 4 million people in 25 states. American States Water Co. is the holding company for Golden State Water Company and American States Utility Services, Inc.

The company’s ROE of 12.01% is slightly below the industry average of 12.36%. However, its market cap of 2.99B is well above the industry average of 1.79B. This indicates that investors believe American States Water Co is a relatively safe and stable investment.

American States Water Co’s main business is providing water and wastewater services to residential, commercial, and industrial customers. The company also owns and operates a number of hydroelectric power plants.

– Artesian Resources Corp ($NASDAQ:ARTNA)

Artesian Resources Corporation is a holding company that provides water, wastewater, and related services on the Delmarva Peninsula through its operating subsidiaries. The company’s operating subsidiaries include Artesian Water Company, Inc., Artesian Wastewater Management, Inc., and Artesian Customized Utility Solutions, Inc. Artesian Resources has a market cap of 474.4M as of 2022 and a Return on Equity of 10.87%. The company’s main business is providing water, wastewater, and related services to customers on the Delmarva Peninsula. Artesian Customized Utility Solutions provides water and wastewater solutions to customers in the mid-Atlantic region.

Summary

Water is a vital resource, and investing in companies that provide water services can be a smart way to profit from this necessity. California Water Service Group is one such company, and it has a long history of providing high-quality water services to its customers. The company has a strong financial position, with a recent $1.02 million investment from MIRAE ASSET Global Investments Co. Ltd.

This vote of confidence from a major investor shows that CALIFORNIA WATER SERVICE is a sound investment. The company’s stock price has also been on the rise, making it an attractive option for investors.