Bank of New York Mellon Corp increased its position in Connecticut Water Service, Inc. (NASDAQ:CTWS) by 3.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 94,837 shares of the utilities provider’s stock after acquiring an additional 3,427 shares during the quarter. Bank of New York Mellon Corp owned about 0.82% of Connecticut Water Service worth $5,264,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank of Montreal Can boosted 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 valued at $105,000 after acquiring an additional 1,148 shares during the period. SG Americas Securities LLC bought a new position in shares of Connecticut Water Service in the second quarter valued at approximately $140,000. Ameriprise Financial Inc. bought a new position in shares of Connecticut Water Service in the first quarter valued at approximately $244,000. Cambridge Trust Co. boosted its position in shares of Connecticut Water Service by 0.4% in the second quarter. Cambridge Trust Co. now owns 6,053 shares of the utilities provider’s stock valued at $336,000 after acquiring an additional 23 shares during the period. Finally, American International Group Inc. boosted its position in shares of Connecticut Water Service by 7.0% in the first quarter. American International Group Inc. now owns 6,664 shares of the utilities provider’s stock valued at $354,000 after acquiring an additional 434 shares during the period. Institutional investors own 46.75% of the company’s stock.

In other news, VP Maureen P. Westbrook sold 1,500 shares of the stock in a transaction that occurred 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 completion of the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.52% of the stock is currently owned by corporate insiders.

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A number of equities research analysts recently weighed in on CTWS shares. Zacks Investment Research raised shares of Connecticut Water Service from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a research note on Wednesday, August 16th. Barclays PLC raised 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 note on Friday, September 22nd. Finally, BidaskClub downgraded shares of Connecticut Water Service from a “hold” rating to a “sell” rating in a research note on Friday, August 25th.

Shares of Connecticut Water Service, Inc. (NASDAQ CTWS) opened at 61.15 on Thursday. The company has a 50-day moving average of $56.47 and a 200-day moving average of $55.50. Connecticut Water Service, Inc. has a 52 week low of $48.91 and a 52 week high of $62.15. The stock has a market capitalization of $707.81 million, a P/E ratio of 30.54 and a beta of 0.11.

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

The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were given a dividend of $0.298 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $1.19 dividend on an annualized basis and a dividend yield of 1.95%. Connecticut Water Service’s dividend payout ratio is currently 59.50%.

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).

Institutional Ownership by Quarter for Connecticut Water Service (NASDAQ:CTWS)

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