JPMorgan Chase & Co. raised its position in Connecticut Water Service, Inc. (NASDAQ:CTWS) by 25.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,064 shares of the utilities provider’s stock after buying an additional 2,222 shares during the period. JPMorgan Chase & Co. owned approximately 0.10% of Connecticut Water Service worth $588,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of CTWS. Karp Capital Management Corp acquired a new position in shares of Connecticut Water Service during the first quarter worth about $1,161,000. Bank of New York Mellon Corp increased its position in shares of Connecticut Water Service by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 91,410 shares of the utilities provider’s stock worth $4,858,000 after buying an additional 1,702 shares during the period. Janney Montgomery Scott LLC increased its position in shares of Connecticut Water Service by 7.5% in the first quarter. Janney Montgomery Scott LLC now owns 13,638 shares of the utilities provider’s stock worth $725,000 after buying an additional 954 shares during the period. Sit Investment Associates Inc. increased its position in shares of Connecticut Water Service by 381.8% in the first quarter. Sit Investment Associates Inc. now owns 5,300 shares of the utilities provider’s stock worth $282,000 after buying an additional 4,200 shares during the period. Finally, ProShare Advisors LLC increased its position in shares of Connecticut Water Service by 17.6% in the first quarter. ProShare Advisors LLC now owns 122,829 shares of the utilities provider’s stock worth $6,528,000 after buying an additional 18,393 shares during the period. 45.77% of the stock is owned by institutional investors and hedge funds.
Connecticut Water Service, Inc. (NASDAQ:CTWS) opened at 57.16 on Friday. Connecticut Water Service, Inc. has a 52 week low of $45.13 and a 52 week high of $62.15. The stock has a market capitalization of $661.00 million, a P/E ratio of 26.50 and a beta of 0.09. The stock’s 50 day moving average price is $57.30 and its 200-day moving average price is $54.76.
Connecticut Water Service (NASDAQ:CTWS) last issued its quarterly earnings data on Monday, May 8th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by $0.01. The business had revenue of $24.21 million for the quarter. Connecticut Water Service had a return on equity of 10.13% and a net margin of 23.22%. Equities research analysts expect that Connecticut Water Service, Inc. will post $2.22 earnings per share for the current year.
Separately, Zacks Investment Research raised Connecticut Water Service from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th.
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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