Shares of Connecticut Water Service, Inc. (NASDAQ:CTWS) have been given an average broker rating score of 3.00 (Hold) from the three brokers that provide coverage for the company, Zacks Investment Research reports. Three investment analysts have rated the stock with a hold rating.
Brokers have set a 1-year consensus price objective 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 assigned Connecticut Water Service an industry rank of 197 out of 265 based on the ratings given to related companies.
A number of equities research analysts have weighed in on the stock. BidaskClub lowered shares of Connecticut Water Service from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Zacks Investment Research lowered Connecticut Water Service from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th.
A number of hedge funds have recently modified their holdings of the business. Westwood Holdings Group Inc. boosted its holdings in shares of Connecticut Water Service by 49.2% during the 4th quarter. Westwood Holdings Group Inc. now owns 298,928 shares of the utilities provider’s stock valued at $17,161,000 after purchasing an additional 98,576 shares during the last quarter. Nuance Investments LLC bought a new position in shares of Connecticut Water Service in the 4th quarter valued at about $3,704,000. Deutsche Bank AG lifted its holdings in shares of Connecticut Water Service by 164.9% in the 4th quarter. Deutsche Bank AG now owns 66,472 shares of the utilities provider’s stock valued at $3,814,000 after acquiring an additional 41,376 shares during the last quarter. Cortina Asset Management LLC purchased a new stake in Connecticut Water Service in the 3rd quarter worth about $2,303,000. Finally, BlackRock Inc. raised its position in Connecticut Water Service by 3.7% in the 4th quarter. BlackRock Inc. now owns 852,846 shares of the utilities provider’s stock worth $48,963,000 after purchasing an additional 30,374 shares during the period. Institutional investors and hedge funds own 47.08% of the company’s stock.
Connecticut Water Service (CTWS) traded down $1.28 during mid-day trading on Wednesday, reaching $52.51. The company had a trading volume of 60,600 shares, compared to its average volume of 53,196. The company has a market cap of $649.15, a PE ratio of 25.49, a PEG ratio of 4.08 and a beta of 0.01. Connecticut Water Service has a fifty-two week low of $50.56 and a fifty-two week high of $65.04. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.18 and a quick ratio of 1.14.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be paid a $0.2975 dividend. The ex-dividend date is Wednesday, February 28th. This represents a $1.19 dividend on an annualized basis and a yield of 2.27%. Connecticut Water Service’s payout ratio is presently 57.77%.
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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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