Zacks: Connecticut Water Service, Inc. (CTWS) Receives Average Rating of “Hold” from Analysts
Connecticut Water Service, Inc. (NASDAQ:CTWS) has earned an average broker rating score of 3.00 (Hold) from the three brokers that cover the stock, Zacks Investment Research reports. Three investment analysts have rated the stock with a hold recommendation.
Brokers have set a 12-month consensus target price of $60.00 for the company and are anticipating that the company will post $0.88 earnings per share for the current quarter, according to Zacks. Zacks has also given Connecticut Water Service an industry rank of 212 out of 265 based on the ratings given to related companies.
A number of research firms have weighed in on CTWS. Zacks Investment Research raised shares of Connecticut Water Service from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research report on Wednesday, August 16th. BidaskClub downgraded shares of Connecticut Water Service from a “hold” rating to a “sell” rating in a research report on Friday, August 25th.
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Shares of Connecticut Water Service (NASDAQ:CTWS) traded up 1.54% on Friday, hitting $56.16. 10,013 shares of the stock traded hands. The stock has a market cap of $650.05 million, a PE ratio of 28.05 and a beta of 0.10. Connecticut Water Service has a 1-year low of $45.51 and a 1-year high of $62.15. The stock has a 50 day moving average of $56.07 and a 200-day moving average of $55.14.
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 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 firm had revenue of $29.50 million during the quarter. On average, equities research analysts expect that Connecticut Water Service will post $2.21 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a dividend of $0.298 per share. This represents a $1.19 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend is Wednesday, August 30th. Connecticut Water Service’s dividend payout ratio is presently 59.50%.
In other Connecticut Water Service news, VP Maureen P. Westbrook sold 1,500 shares of the stock in a transaction that occurred 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 completion of the sale, 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 Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.52% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. American International Group Inc. boosted its holdings in shares of Connecticut Water Service by 7.0% during the 1st quarter. American International Group Inc. now owns 6,664 shares of the utilities provider’s stock worth $354,000 after buying an additional 434 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Connecticut Water Service by 1.9% during the 1st 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 in the last quarter. Kennedy Capital Management Inc. bought a new position in shares of Connecticut Water Service during the 1st quarter worth approximately $3,599,000. Renaissance Technologies LLC boosted its holdings in shares of Connecticut Water Service by 1.7% during the 1st quarter. Renaissance Technologies LLC now owns 242,200 shares of the utilities provider’s stock worth $12,873,000 after buying an additional 4,100 shares in the last quarter. Finally, Westwood Holdings Group Inc. boosted its holdings in shares of Connecticut Water Service by 11.1% during the 1st quarter. Westwood Holdings Group Inc. now owns 133,234 shares of the utilities provider’s stock worth $7,081,000 after buying an additional 13,345 shares in the last quarter. 46.82% of the stock is owned by institutional investors and hedge funds.
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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