UBS Asset Management Americas Inc. held its stake in shares of Connecticut Water Service, Inc. (NASDAQ:CTWS) during the first quarter, according to its most recent disclosure with the SEC. The fund owned 4,500 shares of the utilities provider’s stock at the end of the first quarter. UBS Asset Management Americas Inc.’s holdings in Connecticut Water Service were worth $239,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Bank of Montreal Can raised its position 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 period. State Board of Administration of Florida Retirement System bought a new position in Connecticut Water Service during the fourth quarter worth about $204,000. Sit Investment Associates Inc. increased its stake in shares of 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 worth $282,000 after buying an additional 4,200 shares during the period. Comerica Bank increased its stake in shares of Connecticut Water Service by 6.3% in the fourth quarter. Comerica Bank now owns 6,383 shares of the utilities provider’s stock worth $343,000 after buying an additional 376 shares during the period. Finally, Janney Montgomery Scott LLC increased its stake in shares of 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 worth $725,000 after buying an additional 954 shares during the period. 46.59% of the stock is owned by institutional investors and hedge funds.
Connecticut Water Service, Inc. (NASDAQ CTWS) opened at 55.54 on Friday. Connecticut Water Service, Inc. has a 12 month low of $45.13 and a 12 month high of $62.15. The company has a 50-day moving average price of $56.36 and a 200 day moving average price of $54.97. The firm has a market cap of $642.88 million, a PE ratio of 27.74 and a beta of 0.09.
Connecticut Water Service (NASDAQ:CTWS) last released its quarterly earnings results on Tuesday, August 8th. The utilities provider reported $0.73 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.76 by $0.03. The business had revenue of $29.50 million for the quarter. Connecticut Water Service had a net margin of 21.37% and a return on equity of 9.21%. Equities research analysts anticipate that Connecticut Water Service, Inc. will post $2.21 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a dividend of $0.298 per share. The ex-dividend date is Wednesday, August 30th. This represents a $1.19 dividend on an annualized basis and a dividend yield of 2.15%. Connecticut Water Service’s dividend payout ratio (DPR) is presently 59.50%.
Separately, Zacks Investment Research raised Connecticut Water Service from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th.
In other news, VP Maureen P. Westbrook sold 1,500 shares of Connecticut Water Service stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $55.94, for a total transaction of $83,910.00. Following the sale, the vice president now owns 37,179 shares of the company’s stock, valued at $2,079,793.26. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.52% of the company’s stock.
Connecticut Water Service Company Profile
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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