Connecticut Water Service, Inc. (NASDAQ:CTWS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, July 11th.

According to Zacks, “Shares of Connecticut Water Services returned higher than the Zacks categorized broader industry’s gain in the last twelve months. The company continues to strengthen its existing infrastructure through regular capital investments, which is a must in the water utility space. In addition, customer expansion in its service territories is boosting demand. However, Connecticut Water Services is subject to stringent environment regulations, demand variations with weather patterns, risk of water mains failure and contamination of water sources. “

Shares of Connecticut Water Service (NASDAQ CTWS) traded down 1.31% on Tuesday, hitting $56.30. The company’s stock had a trading volume of 16,966 shares. The stock’s 50 day moving average is $57.28 and its 200-day moving average is $54.81. The company has a market cap of $651.05 million, a price-to-earnings ratio of 26.10 and a beta of 0.09. Connecticut Water Service has a 52 week low of $45.13 and a 52 week high of $62.15.

Connecticut Water Service (NASDAQ:CTWS) last posted its quarterly earnings data on Monday, May 8th. The utilities provider reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by $0.01. Connecticut Water Service had a return on equity of 10.13% and a net margin of 23.22%. The firm had revenue of $24.21 million during the quarter. On average, equities research analysts anticipate that Connecticut Water Service will post $2.22 earnings per share for the current year.

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A number of institutional investors have recently bought and sold shares of the company. Bank of Montreal Can raised its position in shares of Connecticut Water Service by 137.5% in the first quarter. Bank of Montreal Can now owns 1,983 shares of the utilities provider’s stock worth $105,000 after buying an additional 1,148 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Connecticut Water Service during the second quarter worth $140,000. Legal & General Group Plc raised its position in shares of Connecticut Water Service by 4.3% in the second quarter. Legal & General Group Plc now owns 2,715 shares of the utilities provider’s stock worth $151,000 after buying an additional 111 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Connecticut Water Service by 0.4% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,333 shares of the utilities provider’s stock worth $187,000 after buying an additional 13 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System acquired a new position in shares of Connecticut Water Service during the fourth quarter worth $204,000. 45.56% of the stock is owned by hedge funds and other institutional investors.

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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