Westwood Holdings Group Inc. boosted its holdings in shares of Connecticut Water Service Inc (NASDAQ:CTWS) by 49.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 298,928 shares of the utilities provider’s stock after purchasing an additional 98,576 shares during the period. Westwood Holdings Group Inc.’s holdings in Connecticut Water Service were worth $17,161,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company lifted its stake in Connecticut Water Service by 6.7% during the second quarter. The Manufacturers Life Insurance Company now owns 9,116 shares of the utilities provider’s stock valued at $506,000 after purchasing an additional 569 shares during the last quarter. Commonwealth Equity Services Inc lifted its stake in Connecticut Water Service by 7.9% during the third quarter. Commonwealth Equity Services Inc now owns 12,635 shares of the utilities provider’s stock valued at $749,000 after purchasing an additional 921 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Connecticut Water Service by 6.5% during the fourth quarter. Victory Capital Management Inc. now owns 15,606 shares of the utilities provider’s stock valued at $896,000 after purchasing an additional 946 shares during the last quarter. Thrivent Financial For Lutherans lifted its stake in Connecticut Water Service by 5.3% during the fourth quarter. Thrivent Financial For Lutherans now owns 19,825 shares of the utilities provider’s stock valued at $1,138,000 after purchasing an additional 989 shares during the last quarter. Finally, California State Teachers Retirement System lifted its stake in Connecticut Water Service by 6.0% during the fourth quarter. California State Teachers Retirement System now owns 18,727 shares of the utilities provider’s stock valued at $1,075,000 after purchasing an additional 1,064 shares during the last quarter. 46.97% of the stock is owned by institutional investors and hedge funds.

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Connecticut Water Service stock traded down $0.41 during mid-day trading on Monday, hitting $59.74. 5,251 shares of the stock were exchanged, compared to its average volume of 65,569. Connecticut Water Service Inc has a twelve month low of $48.86 and a twelve month high of $65.04. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.86 and a quick ratio of 0.82. The firm has a market capitalization of $713.46, a price-to-earnings ratio of 27.70, a P/E/G ratio of 4.57 and a beta of 0.05.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st were issued a dividend of $0.2975 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.19 dividend on an annualized basis and a dividend yield of 1.99%. Connecticut Water Service’s dividend payout ratio is currently 55.87%.

CTWS has been the subject of several recent research reports. BidaskClub lowered shares of Connecticut Water Service from a “sell” rating to a “strong sell” rating in a research note on Saturday, January 6th. Zacks Investment Research raised shares of Connecticut Water Service from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 6th. Finally, UBS assumed coverage on shares of Connecticut Water Service in a research note on Thursday, March 8th. They set a “neutral” rating and a $53.00 target price for the company.

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

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