Michael B. Luu, who serves as Senior Vice President of Corporate Services and Chief Risk Officer at California Water Service Group, completed the sale of 739.848 shares of the company's common stock on March 20, 2026. The sales were executed in multiple trades with prices spanning $44.21 to $44.53, producing an average proceeds-per-share of $44.53 and total consideration of $32,945.
After the transaction, Luu's direct ownership in California Water Service Group stands at 23,654.8870 shares. The company is identified by the ticker CWT on the New York Stock Exchange.
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These insider sales come as California Water Service Group released results for the fourth quarter of fiscal 2025 that missed consensus figures. The company reported earnings per share of $0.19, versus an expected $0.35, representing a negative surprise of 45.71%. Revenue for the quarter was $220 million, short of the $237.3 million forecast by 7.3%.
The combination of below-expectation EPS and revenue highlights a challenging quarter for the regulated water utility. The reported shortfalls indicate that both profitability metrics and top-line performance deteriorated relative to analyst projections for the period.
In a personnel announcement, California Water Service Group said that Greg A. Milleman, its Vice President of Rates and Regulatory Affairs, has informed the company of his intention to retire after 13 years of service. The company has not set an effective retirement date; it stated that a successor will be named before Milleman departs.
These recent developments - an insider sale by a senior executive, quarterly results that missed expectations on EPS and revenue, and an upcoming leadership transition in regulatory affairs - present a cluster of operational and governance items for shareholders to monitor as the company moves forward.
Key factual points and financial metrics cited in this report reflect the information released by the company and the details of the insider transaction announced on March 20, 2026.