Clean Yield Group decreased its stake in shares of Connecticut Water Service Inc. (NASDAQ:CTWS) by 8.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 103,908 shares of the company’s stock after selling 9,410 shares during the period. Connecticut Water Service accounts for approximately 2.5% of Clean Yield Group’s portfolio, making the stock its 6th largest position. Clean Yield Group’s holdings in Connecticut Water Service were worth $5,840,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in CTWS. Franklin Resources Inc. raised its stake in shares of Connecticut Water Service by 81.3% in the first quarter. Franklin Resources Inc. now owns 116,400 shares of the company’s stock valued at $5,250,000 after buying an additional 52,200 shares in the last quarter. Geode Capital Management LLC increased its position in Connecticut Water Service by 17.1% in the first quarter. Geode Capital Management LLC now owns 83,954 shares of the company’s stock valued at $3,786,000 after buying an additional 12,267 shares during the last quarter. Aperio Group LLC purchased a new position in Connecticut Water Service during the first quarter valued at $377,000. Metropolitan Life Insurance Co. NY increased its position in Connecticut Water Service by 26.0% in the first quarter. Metropolitan Life Insurance Co. NY now owns 9,382 shares of the company’s stock valued at $423,000 after buying an additional 1,937 shares during the last quarter. Finally, First Manhattan Co. increased its position in Connecticut Water Service by 3.0% in the second quarter. First Manhattan Co. now owns 34,306 shares of the company’s stock valued at $1,927,000 after buying an additional 1,000 shares during the last quarter. 44.51% of the stock is owned by hedge funds and other institutional investors.
Connecticut Water Service Inc. (NASDAQ:CTWS) traded down 1.44% on Thursday, hitting $50.02. The stock had a trading volume of 30,130 shares. The firm has a 50-day moving average of $48.95 and a 200 day moving average of $48.93. The company has a market capitalization of $561.77 million, a price-to-earnings ratio of 23.16 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.
Connecticut Water Service (NASDAQ:CTWS) last released its earnings results on Tuesday, August 9th. The company reported $0.90 EPS for the quarter, topping the Thomson Reuters’ 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. On average, analysts predict that Connecticut Water Service Inc. will post $2.15 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were issued a dividend of $0.2825 per share. This represents a $1.13 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date was Tuesday, August 30th. Connecticut Water Service’s payout ratio is currently 52.31%.
Several research analysts have recently weighed in on CTWS shares. Zacks Investment Research downgraded Connecticut Water Service from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Barclays PLC started coverage on Connecticut Water Service in a research note on Tuesday, September 6th. They set an “equal weight” rating and a $52.00 price target for the company.
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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