Sit Investment Associates Inc. held its stake in Connecticut Water Service, Inc. (NASDAQ:CTWS) during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 5,300 shares of the utilities provider’s stock at the end of the second quarter. Sit Investment Associates Inc.’s holdings in Connecticut Water Service were worth $294,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of the stock. Bank of Montreal Can increased 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 valued at $105,000 after buying an additional 1,148 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new stake in Connecticut Water Service during the fourth quarter valued at $204,000. Ameriprise Financial Inc. bought a new stake in Connecticut Water Service during the first quarter valued at $244,000. Comerica Bank increased 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 in the last quarter. Finally, American International Group Inc. increased its stake in Connecticut Water Service by 7.0% in the first quarter. American International Group Inc. now owns 6,664 shares of the utilities provider’s stock valued at $354,000 after buying an additional 434 shares in the last quarter. 46.59% of the stock is owned by hedge funds and other institutional investors.
Shares of Connecticut Water Service, Inc. (NASDAQ:CTWS) traded up 1.95% during trading on Friday, reaching $55.54. 41,633 shares of the company were exchanged. The firm has a 50-day moving average price of $56.36 and a 200-day moving average price of $54.97. Connecticut Water Service, Inc. has a 1-year low of $45.13 and a 1-year high of $62.15. The stock has a market capitalization of $642.88 million, a P/E ratio of 27.74 and a beta of 0.09.
Connecticut Water Service (NASDAQ:CTWS) last issued 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 net margin of 21.37% and a return on equity of 9.21%. The business had revenue of $29.50 million during the quarter. Equities research analysts predict that Connecticut Water Service, Inc. will post $2.21 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a $0.298 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $1.19 annualized dividend and a yield of 2.15%. Connecticut Water Service’s dividend payout ratio is presently 59.50%.
Separately, Zacks Investment Research raised shares of Connecticut Water Service from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a research note on Wednesday.
In other Connecticut Water Service news, VP Maureen P. Westbrook sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $55.94, for a total value of $83,910.00. Following the completion of the transaction, the vice president now owns 37,179 shares of the company’s stock, valued at approximately $2,079,793.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.52% of the company’s 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),The Avon Water Company (AWC) and Chester Realty Company (Chester Realty).
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