Connecticut Water Service (NASDAQ:CTWS) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday.

According to Zacks, “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. Shares of Connecticut Water Services have returned lower than the industry in the last 6 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.”

Separately, BidaskClub upgraded Connecticut Water Service from a “strong sell” rating to a “sell” rating in a research report on Monday.

Connecticut Water Service (NASDAQ:CTWS) traded down $1.24 during trading hours on Tuesday, hitting $51.21. The company had a trading volume of 24,486 shares, compared to its average volume of 44,178. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.18 and a quick ratio of 1.14. Connecticut Water Service has a 12-month low of $50.56 and a 12-month high of $65.04. The stock has a market capitalization of $642.76, a PE ratio of 24.86, a P/E/G ratio of 4.04 and a beta of 0.01.

Connecticut Water Service (NASDAQ:CTWS) last released its earnings results on Wednesday, November 8th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.02. Connecticut Water Service had a return on equity of 9.16% and a net margin of 22.00%. The firm had revenue of $33.51 million during the quarter. research analysts predict that Connecticut Water Service will post 2.13 EPS for the current year.

Large investors have recently added to or reduced their stakes in the stock. Westwood Holdings Group Inc. grew its holdings in Connecticut Water Service by 32.5% during the 2nd quarter. Westwood Holdings Group Inc. now owns 176,581 shares of the utilities provider’s stock valued at $9,802,000 after buying an additional 43,347 shares in the last quarter. Cortina Asset Management LLC purchased a new position in Connecticut Water Service during the 3rd quarter valued at approximately $2,303,000. Dimensional Fund Advisors LP grew its holdings in Connecticut Water Service by 5.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 425,123 shares of the utilities provider’s stock valued at $23,599,000 after buying an additional 21,538 shares in the last quarter. Vanguard Group Inc. grew its holdings in Connecticut Water Service by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 697,158 shares of the utilities provider’s stock valued at $38,699,000 after buying an additional 17,334 shares in the last quarter. Finally, State Street Corp grew its holdings in Connecticut Water Service by 4.8% during the 2nd quarter. State Street Corp now owns 241,026 shares of the utilities provider’s stock valued at $13,381,000 after buying an additional 10,986 shares in the last quarter. Hedge funds and other institutional investors own 45.75% of the company’s stock.

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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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