BidaskClub downgraded shares of Connecticut Water Service (NASDAQ:CTWS) from a hold rating to a sell rating in a research report sent to investors on Tuesday.

CTWS has been the topic of several other reports. Barclays upped their target price on Connecticut Water Service from $53.00 to $57.00 and gave the company an equal weight rating in a research report on Friday, September 22nd. Zacks Investment Research raised Connecticut Water Service from a hold rating to a buy rating and set a $63.00 target price on the stock in a research report on Wednesday, August 16th.

Connecticut Water Service (NASDAQ:CTWS) traded down $0.13 during midday trading on Tuesday, hitting $58.80. The company had a trading volume of 49,000 shares, compared to its average volume of 31,294. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.14 and a current ratio of 1.18. Connecticut Water Service has a 52-week low of $50.75 and a 52-week high of $65.04. The firm has a market cap of $711.18, a P/E ratio of 28.61, a price-to-earnings-growth ratio of 4.62 and a beta of 0.09.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a $0.298 dividend. This represents a $1.19 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Thursday, November 30th. Connecticut Water Service’s payout ratio is 57.77%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CTWS. Teachers Advisors LLC grew its position in Connecticut Water Service by 2.7% during the 1st quarter. Teachers Advisors LLC now owns 17,513 shares of the utilities provider’s stock worth $931,000 after purchasing an additional 468 shares during the period. Vanguard Group Inc. grew its position in Connecticut Water Service by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 679,824 shares of the utilities provider’s stock worth $36,133,000 after purchasing an additional 26,037 shares during the period. Schwab Charles Investment Management Inc. grew its position in Connecticut Water Service by 5.5% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 55,559 shares of the utilities provider’s stock worth $2,953,000 after purchasing an additional 2,895 shares during the period. First Trust Advisors LP acquired a new stake in Connecticut Water Service during the 2nd quarter worth about $3,087,000. Finally, Rhumbline Advisers grew its position in Connecticut Water Service by 2.3% during the 2nd quarter. Rhumbline Advisers now owns 13,463 shares of the utilities provider’s stock worth $747,000 after purchasing an additional 305 shares during the period. 46.05% of the stock is currently owned by hedge funds and other institutional investors.

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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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