Shares of Connecticut Water Service, Inc. (NASDAQ:CTWS) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $63.49 and last traded at $63.36, with a volume of 10,544 shares changing hands. The stock had previously closed at $62.77.
CTWS has been the subject of several recent research reports. Barclays PLC boosted their target price on shares of Connecticut Water Service from $53.00 to $57.00 and gave the company an “equal weight” rating in a research report on Friday, September 22nd. Zacks Investment Research upgraded shares of Connecticut Water Service from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Finally, BidaskClub lowered shares of Connecticut Water Service from a “hold” rating to a “sell” rating in a research report on Friday, August 25th.
The firm has a market capitalization of $731.66 million, a P/E ratio of 31.57 and a beta of 0.11. The stock’s 50 day moving average is $57.86 and its 200 day moving average is $55.97.
Connecticut Water Service (NASDAQ:CTWS) last posted its quarterly earnings results on Tuesday, August 8th. The utilities provider reported $0.73 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.03). Connecticut Water Service had a return on equity of 9.21% and a net margin of 21.37%. The company had revenue of $29.50 million for the quarter. Equities research analysts predict that Connecticut Water Service, Inc. will post $2.21 EPS for the current fiscal year.
In other news, VP Maureen P. Westbrook sold 1,500 shares of Connecticut Water Service stock in a transaction on Wednesday, August 16th. The stock was 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 in the company, valued at approximately $2,079,793.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.52% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. QS Investors LLC purchased a new stake in Connecticut Water Service in the 2nd quarter valued at about $111,000. SG Americas Securities LLC purchased a new stake in Connecticut Water Service in the 2nd quarter valued at about $140,000. Legal & General Group Plc raised its holdings in Connecticut Water Service by 4.3% in the 2nd 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 during the period. Ameriprise Financial Inc. purchased a new stake in Connecticut Water Service in the 1st quarter valued at about $244,000. Finally, GSA Capital Partners LLP purchased a new stake in Connecticut Water Service in the 2nd quarter valued at about $284,000. Hedge funds and other institutional investors own 46.75% of the company’s stock.
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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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