Private Capital Group LLC lessened its holdings in Connecticut Water Service Inc (NASDAQ:CTWS) by 11.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,172 shares of the utilities provider’s stock after selling 2,551 shares during the period. Private Capital Group LLC owned 0.17% of Connecticut Water Service worth $1,349,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. MetLife Investment Advisors LLC raised its stake in Connecticut Water Service by 34.5% during the second quarter. MetLife Investment Advisors LLC now owns 6,552 shares of the utilities provider’s stock worth $428,000 after purchasing an additional 1,681 shares during the period. SRS Capital Advisors Inc. acquired a new stake in shares of Connecticut Water Service in the third quarter worth $194,000. Northern Trust Corp increased its position in shares of Connecticut Water Service by 1.8% in the second quarter. Northern Trust Corp now owns 161,847 shares of the utilities provider’s stock worth $10,572,000 after acquiring an additional 2,827 shares in the last quarter. Nuance Investments LLC increased its position in shares of Connecticut Water Service by 105.2% in the third quarter. Nuance Investments LLC now owns 263,673 shares of the utilities provider’s stock worth $18,280,000 after acquiring an additional 135,180 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Connecticut Water Service by 7.3% in the third quarter. Renaissance Technologies LLC now owns 221,200 shares of the utilities provider’s stock worth $15,345,000 after acquiring an additional 15,000 shares in the last quarter. 47.94% of the stock is currently owned by institutional investors.
CTWS has been the subject of several recent research reports. BidaskClub raised shares of Connecticut Water Service from a “hold” rating to a “buy” rating in a research report on Saturday, October 13th. Wells Fargo & Co initiated coverage on shares of Connecticut Water Service in a research report on Thursday, January 10th. They issued a “market perform” rating and a $66.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $62.00.
Connecticut Water Service stock opened at $67.10 on Monday. Connecticut Water Service Inc has a 52-week low of $48.86 and a 52-week high of $70.30. The firm has a market capitalization of $808.54 million, a PE ratio of 29.69 and a beta of 0.02. The company has a quick ratio of 0.59, a current ratio of 0.61 and a debt-to-equity ratio of 0.84.
Connecticut Water Service (NASDAQ:CTWS) last released its quarterly earnings data on Friday, November 9th. The utilities provider reported $1.31 earnings per share (EPS) for the quarter. Connecticut Water Service had a net margin of 14.73% and a return on equity of 7.74%. The company had revenue of $39.30 million during the quarter. Research analysts anticipate that Connecticut Water Service Inc will post 2.23 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be given a $0.313 dividend. The ex-dividend date is Thursday, February 28th. This represents a $1.25 annualized dividend and a dividend yield of 1.87%. This is a positive change from Connecticut Water Service’s previous quarterly dividend of $0.31. Connecticut Water Service’s dividend payout ratio is presently 55.31%.
Connecticut Water Service Company Profile
Connecticut Water Service, Inc, together with its subsidiaries, operates as a regulated water company. The company operates through three segments: Water Operations, Real Estate Transactions, and Services and Rentals. The Water Operations segment supplies public drinking water. The Real Estate Transactions segment is involved in the sale or donation of its real estate holdings.
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