Ameriprise Financial Inc. acquired a new position in Connecticut Water Service, Inc. (NASDAQ:CTWS) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 4,595 shares of the utilities provider’s stock, valued at approximately $244,000.
Other institutional investors have also bought and sold shares of the company. Bank of Montreal Can boosted its stake in Connecticut Water Service by 137.5% in the first quarter. Bank of Montreal Can now owns 1,983 shares of the utilities provider’s stock worth $105,000 after buying an additional 1,148 shares during the last quarter. State Board of Administration of Florida Retirement System purchased a new stake in Connecticut Water Service during the fourth quarter worth approximately $204,000. Sit Investment Associates Inc. boosted its stake 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. Comerica Bank boosted its stake in Connecticut Water Service by 6.3% in the fourth quarter. Comerica Bank now owns 6,383 shares of the utilities provider’s stock valued at $343,000 after buying an additional 376 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake 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. 46.59% of the stock is currently owned by institutional investors.
Connecticut Water Service, Inc. (NASDAQ CTWS) traded up 1.95% on Friday, reaching $55.54. 41,633 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $56.36 and a 200-day moving average price of $54.97. The stock has a market capitalization of $642.88 million, a price-to-earnings ratio of 27.74 and a beta of 0.09. Connecticut Water Service, Inc. has a 52 week low of $45.13 and a 52 week high of $62.15.
Connecticut Water Service (NASDAQ:CTWS) last announced its quarterly earnings results on Tuesday, August 8th. The utilities provider reported $0.73 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by $0.03. Connecticut Water Service had a return on equity of 9.21% and a net margin of 21.37%. The firm had revenue of $29.50 million for the quarter. On average, analysts predict that Connecticut Water Service, Inc. will post $2.21 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be given a $0.298 dividend. This represents a $1.19 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Wednesday, August 30th. Connecticut Water Service’s payout ratio is 59.50%.
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Separately, Zacks Investment Research upgraded shares of Connecticut Water Service from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th.
In other news, VP Maureen P. Westbrook sold 1,500 shares of the company’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $55.94, for a total value of $83,910.00. Following the completion of the sale, the vice president now owns 37,179 shares of the company’s stock, valued at $2,079,793.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.52% of the stock is owned by corporate insiders.
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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