Principal Financial Group Inc. increased its stake in shares of Connecticut Water Service, Inc. (NASDAQ:CTWS) by 7.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,828 shares of the utilities provider’s stock after buying an additional 720 shares during the period. Principal Financial Group Inc. owned 0.10% of Connecticut Water Service worth $576,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the stock. Russell Investments Group Ltd. bought a new stake in Connecticut Water Service during the fourth quarter valued at $1,341,000. State Board of Administration of Florida Retirement System bought a new stake in Connecticut Water Service during the fourth quarter valued at $204,000. Comerica Bank increased its stake in Connecticut Water Service by 6.3% in the fourth quarter. Comerica Bank now owns 6,383 shares of the utilities provider’s stock valued at $343,000 after buying an additional 376 shares during the period. State Street Corp increased its stake in Connecticut Water Service by 4.4% in the fourth quarter. State Street Corp now owns 231,120 shares of the utilities provider’s stock valued at $12,907,000 after buying an additional 9,724 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Connecticut Water Service by 4.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 386,545 shares of the utilities provider’s stock valued at $21,589,000 after buying an additional 15,346 shares during the period. Hedge funds and other institutional investors own 46.59% of the company’s stock.
Connecticut Water Service, Inc. (NASDAQ CTWS) traded down 1.22% during mid-day trading on Wednesday, reaching $55.69. 4,377 shares of the company traded hands. The stock has a market capitalization of $644.61 million, a PE ratio of 27.82 and a beta of 0.09. The stock has a 50-day moving average of $56.43 and a 200 day moving average of $54.95. Connecticut Water Service, Inc. has a 52-week low of $45.13 and a 52-week high of $62.15.
Connecticut Water Service (NASDAQ:CTWS) last issued its quarterly earnings results on Tuesday, August 8th. The utilities provider reported $0.73 EPS for the quarter, missing the consensus estimate of $0.76 by $0.03. Connecticut Water Service had a return on equity of 9.21% and a net margin of 21.37%. The company had revenue of $29.50 million for the quarter. Equities research analysts expect that Connecticut Water Service, Inc. will post $2.21 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a dividend of $0.298 per share. This represents a $1.19 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Wednesday, August 30th. Connecticut Water Service’s dividend payout ratio (DPR) is 59.50%.
Separately, Zacks Investment Research upgraded shares of Connecticut Water Service from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th.
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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