Zacks Investment Research downgraded shares of Connecticut Water Service (NASDAQ:CTWS) from a hold rating to a sell rating in a report issued on Tuesday.

According to Zacks, “Shares of Connecticut Water Services have returned lower than the industry in the last 12 months. Connecticut Water Services’ water operation is subject to stringent environment regulations. Demand for water changes with weather patterns, risk of water mains failure and contamination of water sources are headwinds. Shares of Connecticut Water Services have gained more than the industry in the last 12 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 through systematic acquisition and organic route is expanding its service territories, thereby boosting demand.”

Other equities research analysts also recently issued research reports about the company. BidaskClub downgraded Connecticut Water Service from a hold rating to a sell rating in a report on Tuesday. Barclays upped their price target on Connecticut Water Service from $53.00 to $57.00 and gave the stock an equal weight rating in a report on Friday, September 22nd.

Shares of Connecticut Water Service (NASDAQ:CTWS) traded down $0.35 during midday trading on Tuesday, reaching $60.76. The company’s stock had a trading volume of 48,400 shares, compared to its average volume of 31,527. The company has a current ratio of 1.18, a quick ratio of 1.14 and a debt-to-equity ratio of 0.87. Connecticut Water Service has a 12 month low of $50.75 and a 12 month high of $65.04. The stock has a market cap of $737.49, a P/E ratio of 29.67, a price-to-earnings-growth ratio of 4.79 and a beta of 0.09.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a dividend of $0.298 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.19 annualized dividend and a yield of 1.96%. Connecticut Water Service’s dividend payout ratio (DPR) is 57.77%.

A number of hedge funds and other institutional investors have recently modified their holdings of CTWS. QS Investors LLC purchased a new stake in Connecticut Water Service during the 2nd quarter worth about $111,000. SG Americas Securities LLC acquired a new position in shares of Connecticut Water Service during the 2nd quarter worth about $140,000. Legal & General Group Plc boosted its position in shares of Connecticut Water Service by 4.3% during the 2nd quarter. Legal & General Group Plc now owns 2,715 shares of the utilities provider’s stock worth $151,000 after acquiring an additional 111 shares in the last quarter. Citadel Advisors LLC acquired a new position in shares of Connecticut Water Service during the 3rd quarter worth about $207,000. Finally, Moors & Cabot Inc. acquired a new position in shares of Connecticut Water Service during the 3rd quarter worth about $210,000. Institutional investors own 46.05% 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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