Connecticut Water Service, Inc. (NASDAQ:CTWS) has received an average broker rating score of 3.00 (Hold) from the three analysts that cover the stock, Zacks Investment Research reports. Three investment analysts have rated the stock with a hold rating.
Brokers have set a 1-year consensus price target of $60.50 for the company and are forecasting that the company will post $0.21 EPS for the current quarter, according to Zacks. Zacks has also given Connecticut Water Service an industry rank of 106 out of 265 based on the ratings given to its competitors.
Several equities analysts have issued reports on the stock. Zacks Investment Research upgraded 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 report on Wednesday, August 16th. BidaskClub cut shares of Connecticut Water Service from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Finally, Barclays PLC upped their price target on shares of 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.
Shares of Connecticut Water Service (NASDAQ CTWS) traded down $1.86 during midday trading on Friday, reaching $59.30. 38,900 shares of the company’s stock traded hands, compared to its average volume of 31,244. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.14 and a current ratio of 1.18. Connecticut Water Service has a 1 year low of $50.75 and a 1 year high of $64.14. The firm has a market cap of $716.31, a PE ratio of 29.69, a P/E/G ratio of 4.61 and a beta of 0.08.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a $0.298 dividend. This represents a $1.19 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Thursday, November 30th. Connecticut Water Service’s dividend payout ratio (DPR) is currently 58.33%.
In other news, VP Maureen P. Westbrook sold 1,500 shares of the stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $55.94, for a total transaction of $83,910.00. Following the completion of the sale, the vice president now directly owns 37,179 shares in the company, valued at $2,079,793.26. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.52% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of CTWS. Cutter & CO Brokerage Inc. acquired a new stake in shares of Connecticut Water Service during the second quarter worth $4,832,000. First Trust Advisors LP acquired a new stake in shares of Connecticut Water Service during the second quarter worth $3,087,000. Westwood Holdings Group Inc. increased its position in shares of Connecticut Water Service by 32.5% during the second quarter. Westwood Holdings Group Inc. now owns 176,581 shares of the utilities provider’s stock worth $9,802,000 after buying an additional 43,347 shares during the period. Cortina Asset Management LLC acquired a new stake in shares of Connecticut Water Service during the third quarter worth $2,303,000. Finally, Kennedy Capital Management Inc. increased its position in shares of Connecticut Water Service by 42.9% during the second quarter. Kennedy Capital Management Inc. now owns 96,741 shares of the utilities provider’s stock worth $5,370,000 after buying an additional 29,032 shares during the period. Institutional investors own 46.37% of the company’s stock.
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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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