Connecticut Water Service, Inc. (NASDAQ:CTWS) VP Maureen P. Westbrook sold 1,500 shares of the stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $55.94, for a total value of $83,910.00. Following the sale, the vice president now directly owns 37,179 shares in the company, valued at approximately $2,079,793.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of Connecticut Water Service, Inc. (NASDAQ CTWS) opened at 55.54 on Monday. The firm has a market cap of $642.88 million, a price-to-earnings ratio of 27.74 and a beta of 0.09. Connecticut Water Service, Inc. has a 1-year low of $45.13 and a 1-year high of $62.15. The company’s 50 day moving average price is $56.36 and its 200-day moving average price is $54.97.

Connecticut Water Service (NASDAQ:CTWS) last issued its quarterly earnings results on Tuesday, August 8th. The utilities provider reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by $0.03. Connecticut Water Service had a net margin of 21.37% and a return on equity of 9.21%. The business had revenue of $29.50 million for the quarter. Equities analysts expect that Connecticut Water Service, Inc. will post $2.21 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be paid a $0.298 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $1.19 dividend on an annualized basis and a yield of 2.15%. Connecticut Water Service’s dividend payout ratio (DPR) is currently 59.50%.

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Hedge funds and other institutional investors have recently modified their holdings of the stock. Cutter & CO Brokerage Inc. purchased a new position in shares of Connecticut Water Service during the second quarter worth approximately $4,832,000. Parametric Portfolio Associates LLC increased its position in shares of Connecticut Water Service by 310.2% in the first quarter. Parametric Portfolio Associates LLC now owns 104,807 shares of the utilities provider’s stock worth $5,570,000 after buying an additional 79,255 shares during the period. Kennedy Capital Management Inc. purchased a new position in shares of Connecticut Water Service during the first quarter worth approximately $3,599,000. Water Asset Management LLC increased its position in shares of Connecticut Water Service by 45.6% in the first quarter. Water Asset Management LLC now owns 208,632 shares of the utilities provider’s stock worth $11,089,000 after buying an additional 65,340 shares during the period. Finally, First Trust Advisors LP purchased a new position in shares of Connecticut Water Service during the second quarter worth approximately $3,087,000. Hedge funds and other institutional investors own 46.59% of the company’s stock.

Separately, Zacks Investment Research raised Connecticut Water Service from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a research note on Wednesday, August 16th.

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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