Shares of Connecticut Water Service, Inc. (NASDAQ:CTWS) have received a consensus broker rating score of 3.00 (Hold) from the three brokers that cover the company, Zacks Investment Research reports. Three equities research analysts have rated the stock with a hold recommendation.
Brokerages have set a 12-month consensus price target of $58.50 for the company and are forecasting that the company will post $0.88 EPS for the current quarter, according to Zacks. Zacks has also assigned Connecticut Water Service an industry rank of 163 out of 265 based on the ratings given to related companies.
A number of equities research analysts have weighed in on CTWS shares. Barclays PLC raised their price target on Connecticut Water Service from $53.00 to $57.00 and gave the company an “equal weight” rating in a research report on Friday, September 22nd. BidaskClub downgraded Connecticut Water Service from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Finally, Zacks Investment Research upgraded Connecticut Water Service from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a research report on Wednesday, August 16th.
Shares of Connecticut Water Service (CTWS) traded up 0.76% during midday trading on Thursday, reaching $63.50. The company had a trading volume of 35,769 shares. The company has a market capitalization of $735.01 million, a PE ratio of 31.72 and a beta of 0.11. Connecticut Water Service has a one year low of $49.23 and a one year high of $63.84. The company has a 50 day moving average of $58.43 and a 200 day moving average of $56.16.
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). Connecticut Water Service had a net margin of 21.37% and a return on equity of 9.21%. The firm had revenue of $29.50 million for the quarter. Analysts predict that Connecticut Water Service will post $2.21 EPS for the current fiscal year.
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In other news, VP Maureen P. Westbrook sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $55.94, for a total transaction of $83,910.00. Following the transaction, the vice president now directly owns 37,179 shares of the company’s stock, valued at $2,079,793.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.52% of the company’s stock.
Large investors have recently made changes to their positions in the company. Renaissance Technologies LLC grew its stake in shares of Connecticut Water Service by 1.7% during the first quarter. Renaissance Technologies LLC now owns 242,200 shares of the utilities provider’s stock valued at $12,873,000 after buying an additional 4,100 shares during the last quarter. American International Group Inc. grew its stake in shares of Connecticut Water Service by 7.0% during 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 during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Connecticut Water Service by 1.9% during 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. Kennedy Capital Management Inc. bought a new position in shares of Connecticut Water Service during the first quarter valued at about $3,599,000. Finally, Westwood Holdings Group Inc. grew its stake in shares of Connecticut Water Service by 11.1% during the first quarter. Westwood Holdings Group Inc. now owns 133,234 shares of the utilities provider’s stock valued at $7,081,000 after buying an additional 13,345 shares during the last quarter. 46.75% of the stock is currently owned by hedge funds and other institutional investors.
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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