California Water Services Group (NYSE:CWT) is among them Stock Kings List: Top 15 Stocks.
On February 24, California Water Services Group (NYSE:CWT) announced an agreement to purchase Nexus Water Group’s water and wastewater systems in Nevada and Oregon. The transaction will add approximately 36,000 equivalent residential connections and a combined rate base of $109 million by December 31, 2025.
Chairman and CEO Martin A. Kropelnicki called the acquisition an important step for the company as it enters an important year. He commented as follows:
“This is a great way to kick off our centennial year. We began serving four small communities in California in 1926, and with this acquisition, we will serve nearly two million people through approximately 584,000 service contacts in seven western states. We look forward to completing the transition and providing better customer service opportunities.”
Kruplinki said the purchase price is approximately $218 million, subject to standard closing adjustments. The company plans to finance the transaction using working capital and existing debt, and equity facilities. Management expects the transaction to close by the end of 2026, pending customary conditions, including approvals from the relevant public service commissions. The company also expects the acquisition to be effective for existing operations within one year after closing.
California Water Service Group (NYSE:CWT) operates as a utility holding company, the parent company of regulated utilities, California Water Service, Weather Water Service, New Mexico Water Service, and Washington Water Service, along with Texas Water Service. Together, these businesses provide regulated and unregulated water and wastewater to more than 2.1 million people in California, Hawaii, New Mexico, Washington, and Texas.
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Read more: The 40 most popular stocks among hedge funds heading into 2026 And the 13 best defensive dividend stocks for 2026.
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