KBC Group NV raised its stake in Connecticut Water Service, Inc. (NASDAQ:CTWS) by 1.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 59,592 shares of the utilities provider’s stock after buying an additional 733 shares during the period. KBC Group NV owned about 0.52% of Connecticut Water Service worth $3,308,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of CTWS. Bank of Montreal Can boosted its position in Connecticut Water Service by 137.5% in the first quarter. Bank of Montreal Can now owns 1,983 shares of the utilities provider’s stock valued at $105,000 after buying an additional 1,148 shares in the last quarter. SG Americas Securities LLC acquired a new position in Connecticut Water Service during the second quarter valued at $140,000. Legal & General Group Plc boosted its position in Connecticut Water Service by 4.3% in the second quarter. Legal & General Group Plc now owns 2,715 shares of the utilities provider’s stock valued at $151,000 after buying an additional 111 shares in the last quarter. Ameriprise Financial Inc. acquired a new position in Connecticut Water Service during the first quarter valued at $244,000. Finally, Sit Investment Associates Inc. boosted its position in 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 valued at $282,000 after buying an additional 4,200 shares in the last quarter. Hedge funds and other institutional investors own 46.59% of the company’s stock.
Connecticut Water Service, Inc. (NASDAQ:CTWS) opened at 54.88 on Friday. The stock has a market cap of $635.24 million, a PE ratio of 27.41 and a beta of 0.09. Connecticut Water Service, Inc. has a 1-year low of $45.13 and a 1-year high of $62.15. The stock has a 50 day moving average price of $56.27 and a 200 day moving average price of $55.04.
Connecticut Water Service (NASDAQ:CTWS) last released its quarterly earnings data on Tuesday, August 8th. The utilities provider reported $0.73 earnings per share (EPS) for the quarter, missing the 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 company had revenue of $29.50 million during the quarter. On average, analysts predict that Connecticut Water Service, Inc. will post $2.21 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be paid a $0.298 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $1.19 annualized dividend and a yield of 2.17%. Connecticut Water Service’s dividend payout ratio is presently 59.50%.
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Several research firms have recently weighed in on CTWS. Zacks Investment Research upgraded Connecticut Water Service from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a research note on Wednesday, August 16th. BidaskClub cut Connecticut Water Service from a “hold” rating to a “sell” rating in a research note on Friday.
In other Connecticut Water Service news, VP Maureen P. Westbrook sold 1,500 shares of the company’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $55.94, for a total value of $83,910.00. Following the completion of the transaction, the vice president now owns 37,179 shares in the company, valued at $2,079,793.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.52% of the company’s stock.
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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