Citigroup Inc. lessened its holdings in shares of Connecticut Water Service Inc (NASDAQ:CTWS) by 48.3% during the first quarter, HoldingsChannel.com reports. The firm owned 36,119 shares of the utilities provider’s stock after selling 33,784 shares during the quarter. Citigroup Inc.’s holdings in Connecticut Water Service were worth $2,480,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the stock. BlackRock Inc. increased its holdings in Connecticut Water Service by 1.4% during the 1st quarter. BlackRock Inc. now owns 957,182 shares of the utilities provider’s stock valued at $65,710,000 after purchasing an additional 13,492 shares during the period. ARP Americas LP grew its holdings in shares of Connecticut Water Service by 249.1% during the 1st quarter. ARP Americas LP now owns 328,112 shares of the utilities provider’s stock worth $22,525,000 after acquiring an additional 234,118 shares during the period. Norges Bank purchased a new position in shares of Connecticut Water Service during the 4th quarter worth approximately $17,707,000. OMERS ADMINISTRATION Corp grew its holdings in shares of Connecticut Water Service by 76.6% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 147,600 shares of the utilities provider’s stock worth $9,870,000 after acquiring an additional 64,000 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Connecticut Water Service by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 146,651 shares of the utilities provider’s stock worth $9,806,000 after acquiring an additional 1,489 shares during the period. Institutional investors own 51.12% of the company’s stock.
CTWS stock opened at $69.39 on Thursday. Connecticut Water Service Inc has a fifty-two week low of $62.05 and a fifty-two week high of $70.44. The company has a current ratio of 0.47, a quick ratio of 0.45 and a debt-to-equity ratio of 0.88. The company has a market cap of $821.27 million, a price-to-earnings ratio of 31.96 and a beta of -0.03.
Connecticut Water Service (NASDAQ:CTWS) last posted its earnings results on Wednesday, May 8th. The utilities provider reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02). Connecticut Water Service had a return on equity of 8.72% and a net margin of 16.21%. The firm had revenue of $27.86 million for the quarter. On average, analysts expect that Connecticut Water Service Inc will post 2.3 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.3275 per share. This is an increase from Connecticut Water Service’s previous quarterly dividend of $0.31. The ex-dividend date is Friday, May 31st. This represents a $1.31 dividend on an annualized basis and a dividend yield of 1.89%. Connecticut Water Service’s dividend payout ratio is 57.21%.
CTWS has been the topic of a number of research analyst reports. TheStreet downgraded Connecticut Water Service from a “b” rating to a “c+” rating in a report on Thursday, March 7th. BidaskClub downgraded Connecticut Water Service from a “hold” rating to a “sell” rating in a report on Saturday, March 16th. Wells Fargo & Co reiterated a “hold” rating on shares of Connecticut Water Service in a report on Friday, March 1st. Finally, Zacks Investment Research downgraded Connecticut Water Service from a “hold” rating to a “sell” rating in a report on Tuesday, April 2nd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $66.50.
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Connecticut Water Service Profile
Connecticut Water Service, Inc, together with its subsidiaries, operates as a regulated water company. The company operates through three segments: Water Operations, Real Estate Transactions, and Services and Rentals. The Water Operations segment supplies public drinking water and provides wastewater services.
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