Clean Yield Group lowered its stake in shares of Connecticut Water Service Inc (NASDAQ:CTWS) by 10.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 57,743 shares of the utilities provider’s stock after selling 6,940 shares during the period. Clean Yield Group owned 0.50% of Connecticut Water Service worth $3,190,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its position in Connecticut Water Service by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 91,410 shares of the utilities provider’s stock valued at $4,858,000 after buying an additional 1,702 shares during the last quarter. Janney Montgomery Scott LLC raised its position in Connecticut Water Service by 7.5% in the first quarter. Janney Montgomery Scott LLC now owns 13,638 shares of the utilities provider’s stock valued at $725,000 after buying an additional 954 shares during the last quarter. Sit Investment Associates Inc. raised its position in Connecticut Water Service by 381.8% in the first quarter. Sit Investment Associates Inc. now owns 5,300 shares of the utilities provider’s stock valued at $282,000 after buying an additional 4,200 shares during the last quarter. ProShare Advisors LLC raised its position in Connecticut Water Service by 17.6% in the first quarter. ProShare Advisors LLC now owns 122,829 shares of the utilities provider’s stock valued at $6,528,000 after buying an additional 18,393 shares during the last quarter. Finally, First Manhattan Co. raised its position in Connecticut Water Service by 2.5% in the first quarter. First Manhattan Co. now owns 38,046 shares of the utilities provider’s stock valued at $1,892,000 after buying an additional 925 shares during the last quarter. Hedge funds and other institutional investors own 45.56% of the company’s stock.
Shares of Connecticut Water Service Inc (NASDAQ CTWS) traded down 2.46% during trading on Friday, reaching $54.72. 30,242 shares of the company were exchanged. Connecticut Water Service Inc has a 1-year low of $45.13 and a 1-year high of $62.15. The company’s 50-day moving average is $56.54 and its 200 day moving average is $54.94. The firm has a market capitalization of $632.78 million, a PE ratio of 25.37 and a beta of 0.09.
Connecticut Water Service (NASDAQ:CTWS) last posted its quarterly earnings results on Tuesday, August 8th. The utilities provider reported $0.73 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.76 by $0.03. The company had revenue of $29.50 million during the quarter. Connecticut Water Service had a return on equity of 13.11% and a net margin of 30.17%. Equities research analysts expect that Connecticut Water Service Inc will post $2.21 EPS for the current fiscal year.
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Separately, Zacks Investment Research upgraded shares of Connecticut Water Service from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th.
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),The Avon Water Company (AWC) and Chester Realty Company (Chester Realty).
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