Connecticut Water Service Inc. (CTWS) Announces Quarterly Dividend of $0.28
Connecticut Water Service Inc. (NASDAQ:CTWS) announced a quarterly dividend on Friday, November 11th. Shareholders of record on Thursday, December 1st will be paid a dividend of 0.2825 per share on Thursday, December 15th. This represents a $1.13 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date is Tuesday, November 29th.
Shares of Connecticut Water Service (NASDAQ:CTWS) opened at 53.16 on Monday. The firm has a market cap of $597.52 million, a PE ratio of 24.03 and a beta of 0.06. Connecticut Water Service has a 12 month low of $34.15 and a 12 month high of $56.62. The firm has a 50 day moving average price of $50.74 and a 200-day moving average price of $50.28.
Connecticut Water Service (NASDAQ:CTWS) last released its quarterly earnings data on Tuesday, November 8th. The company reported $0.84 EPS for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.02. Connecticut Water Service had a net margin of 24.15% and a return on equity of 10.82%. The business earned $31.20 million during the quarter, compared to analysts’ expectations of $30.50 million. On average, analysts predict that Connecticut Water Service will post $2.11 EPS for the current fiscal year.
A number of analysts recently commented on CTWS shares. Zacks Investment Research cut shares of Connecticut Water Service from a “buy” rating to a “hold” rating in a research report on Tuesday, July 26th. Barclays PLC started coverage on shares of Connecticut Water Service in a research report on Tuesday, September 6th. They issued an “equal weight” rating and a $52.00 price objective for the company.
Large investors have recently made changes to their positions in the stock. Croft Leominster Inc. purchased a new position in Connecticut Water Service during the second quarter worth $206,000. State Street Corp boosted its position in shares of Connecticut Water Service by 0.8% in the second quarter. State Street Corp now owns 220,491 shares of the company’s stock valued at $12,390,000 after buying an additional 1,704 shares in the last quarter. ProShare Advisors LLC acquired a new position in shares of Connecticut Water Service during the second quarter valued at $2,062,000. Teachers Advisors Inc. boosted its position in shares of Connecticut Water Service by 5.3% in the second quarter. Teachers Advisors Inc. now owns 17,045 shares of the company’s stock valued at $958,000 after buying an additional 852 shares in the last quarter. Finally, Baird Financial Group Inc. boosted its position in shares of Connecticut Water Service by 30.1% in the second quarter. Baird Financial Group Inc. now owns 55,046 shares of the company’s stock valued at $3,094,000 after buying an additional 12,746 shares in the last quarter. 45.43% of the stock is currently owned by institutional investors and hedge funds.
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) and Chester Realty Company (Chester Realty).
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