Connecticut Water Service, Inc. (NASDAQ:CTWS) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Friday.
Separately, Zacks Investment Research raised shares of Connecticut Water Service from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th.
Shares of Connecticut Water Service (NASDAQ CTWS) traded up 0.64% on Friday, hitting $55.35. The stock had a trading volume of 298 shares. The company has a 50 day moving average of $56.26 and a 200-day moving average of $55.03. The firm has a market capitalization of $640.68 million, a P/E ratio of 27.65 and a beta of 0.09. Connecticut Water Service has a 12-month low of $45.13 and a 12-month high of $62.15.
Connecticut Water Service (NASDAQ:CTWS) last released its earnings results on Tuesday, August 8th. The utilities provider reported $0.73 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by $0.03. Connecticut Water Service had a net margin of 21.37% and a return on equity of 9.21%. The business had revenue of $29.50 million for the quarter. Equities analysts predict that Connecticut Water Service will post $2.21 EPS for the current fiscal year.
ILLEGAL ACTIVITY NOTICE: This story was first reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this story on another site, it was copied illegally and reposted in violation of United States and international copyright & trademark law. The original version of this story can be viewed at https://stocknewstimes.com/2017/08/25/connecticut-water-service-inc-ctws-downgraded-to-sell-at-bidaskclub.html.
In related 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 transaction, the vice president now owns 37,179 shares of the company’s stock, valued at approximately $2,079,793.26. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.52% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Connecticut Water Service by 2.5% in the second quarter. Vanguard Group Inc. now owns 697,158 shares of the utilities provider’s stock valued at $38,699,000 after buying an additional 17,334 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Connecticut Water Service by 5.3% in the second quarter. Dimensional Fund Advisors LP now owns 425,123 shares of the utilities provider’s stock valued at $23,599,000 after buying an additional 21,538 shares in the last quarter. Renaissance Technologies LLC raised its position in Connecticut Water Service by 1.1% in the second quarter. Renaissance Technologies LLC now owns 244,800 shares of the utilities provider’s stock valued at $13,589,000 after buying an additional 2,600 shares in the last quarter. State Street Corp raised its position in Connecticut Water Service by 4.8% in the second quarter. State Street Corp now owns 241,026 shares of the utilities provider’s stock valued at $13,381,000 after buying an additional 10,986 shares in the last quarter. Finally, Water Asset Management LLC raised its position in Connecticut Water Service by 45.6% in the first quarter. Water Asset Management LLC now owns 208,632 shares of the utilities provider’s stock valued at $11,089,000 after buying an additional 65,340 shares in the last quarter. 46.59% of the stock is currently owned by institutional investors.
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).
Receive News & Ratings for Connecticut Water Service Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Connecticut Water Service Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
