CNH Partners LLC grew its holdings in Connecticut Water Service Inc (NASDAQ:CTWS) by 46.0% during the 1st quarter, Holdings Channel reports. The firm owned 316,701 shares of the utilities provider’s stock after purchasing an additional 99,850 shares during the period. CNH Partners LLC’s holdings in Connecticut Water Service were worth $21,742,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of CTWS. FMR LLC boosted its stake in shares of Connecticut Water Service by 50.1% in the 4th quarter. FMR LLC now owns 1,543 shares of the utilities provider’s stock valued at $103,000 after purchasing an additional 515 shares during the last quarter. Contravisory Investment Management Inc. bought a new position in Connecticut Water Service during the 1st quarter worth approximately $119,000. Legal & General Group Plc boosted its stake in Connecticut Water Service by 27.8% during the 4th quarter. Legal & General Group Plc now owns 2,360 shares of the utilities provider’s stock worth $158,000 after acquiring an additional 514 shares during the last quarter. SG Americas Securities LLC bought a new position in Connecticut Water Service during the 1st quarter worth approximately $173,000. Finally, Strs Ohio bought a new position in Connecticut Water Service during the 4th quarter worth approximately $220,000. 51.12% of the stock is currently owned by institutional investors.
Connecticut Water Service stock traded up $0.01 during midday trading on Friday, hitting $68.63. 21,911 shares of the stock were exchanged, compared to its average volume of 29,873. Connecticut Water Service Inc has a 52 week low of $62.05 and a 52 week high of $70.44. The firm has a market capitalization of $827.88 million, a price-to-earnings ratio of 32.22 and a beta of -0.03. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.47 and a quick ratio of 0.45.
Connecticut Water Service (NASDAQ:CTWS) last released its quarterly earnings data on Wednesday, May 8th. The utilities provider reported $0.19 earnings per share for the quarter, missing the consensus estimate 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. As a group, analysts predict that Connecticut Water Service Inc will post 2.3 EPS for the current fiscal year.
The business 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. This represents a $1.31 annualized dividend and a yield of 1.91%. The ex-dividend date is Friday, May 31st. Connecticut Water Service’s dividend payout ratio (DPR) is 57.21%.
Several research firms recently weighed in on CTWS. TheStreet lowered shares of Connecticut Water Service from a “b” rating to a “c+” rating in a research note on Thursday, March 7th. Wells Fargo & Co reissued a “hold” rating on shares of Connecticut Water Service in a research note on Friday, March 1st. BidaskClub raised shares of Connecticut Water Service from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th. Finally, Zacks Investment Research lowered shares of Connecticut Water Service from a “hold” rating to a “sell” rating in a research note on Tuesday, April 2nd. Three research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company. Connecticut Water Service currently has an average rating of “Hold” and a consensus target price of $66.50.
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About Connecticut Water Service
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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