Bank of America Corp DE Boosts Stake in Connecticut Water Service Inc (CTWS)

Bank of America Corp DE increased its holdings in Connecticut Water Service Inc (NASDAQ:CTWS) by 9.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 16,987 shares of the utilities provider’s stock after buying an additional 1,445 shares during the period. Bank of America Corp DE owned about 0.14% of Connecticut Water Service worth $1,135,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Advisor Group Inc. boosted its holdings in shares of Connecticut Water Service by 2.9% in the 4th quarter. Advisor Group Inc. now owns 6,670 shares of the utilities provider’s stock valued at $446,000 after buying an additional 187 shares during the period. Dearborn Partners LLC boosted its holdings in shares of Connecticut Water Service by 21.6% in the 4th quarter. Dearborn Partners LLC now owns 3,546 shares of the utilities provider’s stock valued at $237,000 after buying an additional 629 shares during the period. GSA Capital Partners LLP boosted its holdings in shares of Connecticut Water Service by 19.9% in the 4th quarter. GSA Capital Partners LLP now owns 4,465 shares of the utilities provider’s stock valued at $299,000 after buying an additional 742 shares during the period. Principal Financial Group Inc. lifted its position in Connecticut Water Service by 7.8% in the 4th quarter. Principal Financial Group Inc. now owns 12,686 shares of the utilities provider’s stock valued at $848,000 after purchasing an additional 922 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Connecticut Water Service by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 146,651 shares of the utilities provider’s stock valued at $9,806,000 after purchasing an additional 1,489 shares during the last quarter. 51.14% of the stock is owned by institutional investors and hedge funds.

Several brokerages recently weighed in on CTWS. BidaskClub upgraded shares of Connecticut Water Service from a “sell” rating to a “hold” rating in a research report on Thursday. Zacks Investment Research upgraded shares of Connecticut Water Service from a “sell” rating to a “hold” rating in a research report on Wednesday. TheStreet downgraded shares of Connecticut Water Service from a “b” rating to a “c+” rating in a research report on Thursday, March 7th. Finally, Wells Fargo & Co reiterated a “hold” rating on shares of Connecticut Water Service in a research report on Friday, March 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $66.50.

Shares of NASDAQ:CTWS opened at $69.67 on Friday. The stock has a market capitalization of $840.22 million, a P/E ratio of 30.42 and a beta of -0.03. Connecticut Water Service Inc has a fifty-two week low of $62.05 and a fifty-two week high of $70.44. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.47 and a current ratio of 0.47.

Connecticut Water Service (NASDAQ:CTWS) last issued its quarterly earnings data on Wednesday, May 8th. The utilities provider reported $0.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.02). The firm had revenue of $27.86 million during the quarter. Connecticut Water Service had a net margin of 16.21% and a return on equity of 8.72%. On average, research analysts expect that Connecticut Water Service Inc will post 2.3 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be given a $0.3275 dividend. The ex-dividend date is Friday, May 31st. 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 1.88%. Connecticut Water Service’s dividend payout ratio (DPR) is currently 54.59%.

COPYRIGHT VIOLATION NOTICE: This news story was published by American Banking News and is the sole property of of American Banking News. If you are reading this news story on another domain, it was illegally copied and reposted in violation of US and international copyright & trademark legislation. The legal version of this news story can be viewed at https://www.americanbankingnews.com/2019/05/12/bank-of-america-corp-de-boosts-stake-in-connecticut-water-service-inc-ctws.html.

Connecticut Water Service Company Profile

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.

Featured Article: Cash Asset Ratio

Institutional Ownership by Quarter for Connecticut Water Service (NASDAQ:CTWS)

Receive News & Ratings for Connecticut Water Service Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Connecticut Water Service and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply