Connecticut Water Service (CTWS) Upgraded at BidaskClub

BidaskClub upgraded shares of Connecticut Water Service (NASDAQ:CTWS) from a sell rating to a hold rating in a report released on Friday morning.

CTWS has been the subject of several other research reports. Zacks Investment Research upgraded shares of Connecticut Water Service from a strong sell rating to a hold rating in a research report on Tuesday, February 6th. UBS began coverage on shares of Connecticut Water Service in a report on Thursday, March 8th. They issued a neutral rating and a $53.00 target price on the stock.

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Shares of Connecticut Water Service (NASDAQ:CTWS) traded down $1.08 during trading hours on Friday, hitting $59.74. 125,913 shares of the stock traded hands, compared to its average volume of 103,142. The stock has a market cap of $721.41, a P/E ratio of 28.05, a PEG ratio of 4.97 and a beta of 0.05. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 0.86. Connecticut Water Service has a twelve month low of $48.86 and a twelve month high of $65.04.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st were issued a $0.2975 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.19 dividend on an annualized basis and a dividend yield of 1.99%. Connecticut Water Service’s payout ratio is 55.87%.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Connecticut Water Service by 3.7% in the 4th quarter. BlackRock Inc. now owns 852,846 shares of the utilities provider’s stock valued at $48,963,000 after acquiring an additional 30,374 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Connecticut Water Service by 0.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 429,122 shares of the utilities provider’s stock valued at $25,447,000 after acquiring an additional 3,999 shares during the period. Westwood Holdings Group Inc. increased its holdings in shares of Connecticut Water Service by 49.2% in the 4th quarter. Westwood Holdings Group Inc. now owns 298,928 shares of the utilities provider’s stock valued at $17,161,000 after acquiring an additional 98,576 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Connecticut Water Service by 9.4% in the 4th quarter. Renaissance Technologies LLC now owns 263,000 shares of the utilities provider’s stock valued at $15,099,000 after acquiring an additional 22,600 shares during the period. Finally, State Street Corp increased its holdings in shares of Connecticut Water Service by 4.8% in the 2nd quarter. State Street Corp now owns 241,026 shares of the utilities provider’s stock valued at $13,381,000 after acquiring an additional 10,986 shares during the period. 46.97% of the stock is currently owned by institutional investors and hedge funds.

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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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