California State Teachers Retirement System reduced its position in Connecticut Water Service Inc. (NASDAQ:CTWS) by 3.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 22,722 shares of the company’s stock after selling 931 shares during the period. California State Teachers Retirement System owned approximately 0.20% of Connecticut Water Service worth $1,277,000 as of its most recent filing with the SEC.
Other institutional investors have also recently modified their holdings of the company. Commonwealth Equity Services Inc raised its stake in Connecticut Water Service by 4.2% in the first quarter. Commonwealth Equity Services Inc now owns 10,936 shares of the company’s stock worth $493,000 after buying an additional 439 shares during the period. Aperio Group LLC bought a new stake in Connecticut Water Service during the first quarter worth approximately $377,000. Franklin Resources Inc. raised its stake in Connecticut Water Service by 81.3% in the first quarter. Franklin Resources Inc. now owns 116,400 shares of the company’s stock worth $5,250,000 after buying an additional 52,200 shares during the period. BlackRock Inc. raised its stake in Connecticut Water Service by 15.8% in the first quarter. BlackRock Inc. now owns 5,447 shares of the company’s stock worth $246,000 after buying an additional 745 shares during the period. Finally, State Street Corp raised its stake in Connecticut Water Service by 2.5% in the first quarter. State Street Corp now owns 218,787 shares of the company’s stock worth $9,870,000 after buying an additional 5,420 shares during the period. 44.51% of the stock is owned by institutional investors and hedge funds.
Shares of Connecticut Water Service Inc. (NASDAQ:CTWS) traded down 0.57% during midday trading on Friday, hitting $52.00. The company had a trading volume of 29,545 shares. The company has a market capitalization of $584.01 million, a P/E ratio of 24.07 and a beta of 0.24. Connecticut Water Service Inc. has a 52 week low of $34.15 and a 52 week high of $56.62. The firm’s 50 day moving average is $48.80 and its 200 day moving average is $48.65.
Connecticut Water Service (NASDAQ:CTWS) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.18. Connecticut Water Service had a return on equity of 10.65% and a net margin of 23.55%. The business had revenue of $26.06 million for the quarter, compared to the consensus estimate of $27.20 million. Equities research analysts anticipate that Connecticut Water Service Inc. will post $2.15 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were given a dividend of $0.2825 per share. The ex-dividend date was Tuesday, August 30th. This represents a $1.13 dividend on an annualized basis and a yield of 2.17%. Connecticut Water Service’s payout ratio is 52.31%.
A number of research firms have commented on CTWS. Zacks Investment Research upgraded Connecticut Water Service from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research report on Wednesday, July 13th. Barclays PLC started coverage on Connecticut Water Service in a research report on Tuesday, September 6th. They set an “equal weight” rating and a $52.00 target price on the stock.
About Connecticut Water Service
Connecticut Water Service, Inc is a non-operating holding company. The Company’s income is derived from the earnings of its subsidiary companies, including The Connecticut Water Company (Connecticut Water), The Maine Water Company (Maine Water), New England Water Utility Services, Inc (NEWUS) and Chester Realty Company (Chester Realty).
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