Putnam FL Investment Management Co. acquired a new stake in Connecticut Water Service, Inc. (NASDAQ:CTWS) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 7,750 shares of the utilities provider’s stock, valued at approximately $460,000. Putnam FL Investment Management Co. owned 0.07% of Connecticut Water Service as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also modified their holdings of the company. QS Investors LLC acquired a new position in shares of Connecticut Water Service in the 2nd quarter valued at approximately $111,000. SG Americas Securities LLC acquired a new position in Connecticut Water Service during the 2nd quarter worth approximately $140,000. Legal & General Group Plc boosted its position in 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 during the last quarter. Ameriprise Financial Inc. acquired a new position in Connecticut Water Service during the 1st quarter worth approximately $244,000. Finally, GSA Capital Partners LLP acquired a new position in Connecticut Water Service during the 2nd quarter worth approximately $284,000. Institutional investors and hedge funds own 46.37% of the company’s stock.
A number of research firms have weighed in on CTWS. Barclays PLC upped their price target on Connecticut Water Service from $53.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Friday, September 22nd. Zacks Investment Research upgraded Connecticut Water Service from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a research note on Wednesday, August 16th. Finally, BidaskClub cut Connecticut Water Service from a “hold” rating to a “sell” rating in a research note on Friday, August 25th.
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Shares of Connecticut Water Service, Inc. (NASDAQ:CTWS) traded down $0.10 during trading on Friday, hitting $60.81. The stock had a trading volume of 16,521 shares, compared to its average volume of 32,844. Connecticut Water Service, Inc. has a one year low of $50.75 and a one year high of $64.14. The company has a market cap of $733.87, a PE ratio of 29.08, a P/E/G ratio of 4.52 and a beta of 0.08. The company has a current ratio of 1.18, a quick ratio of 1.14 and a debt-to-equity ratio of 0.87.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a dividend of $0.298 per share. This represents a $1.19 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Thursday, November 30th. Connecticut Water Service’s dividend payout ratio is currently 58.33%.
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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