State Board of Administration of Florida Retirement System Cuts Position in Connecticut Water Service Inc. (CTWS)
State Board of Administration of Florida Retirement System decreased its position in shares of Connecticut Water Service Inc. (NASDAQ:CTWS) by 59.9% during the second quarter, Holdings Channel reports. The fund owned 3,646 shares of the company’s stock after selling 5,440 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Connecticut Water Service were worth $205,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the stock. Teton Advisors Inc. purchased a new stake in Connecticut Water Service during the second quarter worth $225,000. BlackRock Inc. increased its stake in Connecticut Water Service by 15.8% in the first quarter. BlackRock Inc. now owns 5,447 shares of the company’s stock worth $246,000 after buying an additional 745 shares during the last quarter. Aperio Group LLC purchased a new stake in Connecticut Water Service during the first quarter worth $377,000. California Public Employees Retirement System purchased a new stake in Connecticut Water Service during the second quarter worth $697,000. Finally, Swiss National Bank increased its stake in Connecticut Water Service by 2.0% in the second quarter. Swiss National Bank now owns 20,300 shares of the company’s stock worth $1,141,000 after buying an additional 400 shares during the last quarter. Institutional investors and hedge funds own 44.51% of the company’s stock.
Shares of Connecticut Water Service Inc. (NASDAQ:CTWS) traded up 0.1244% on Wednesday, hitting $51.4239. The stock had a trading volume of 1,525 shares. The stock has a market cap of $577.54 million, a PE ratio of 23.8074 and a beta of 0.16. The company has a 50 day moving average price of $49.05 and a 200-day moving average price of $49.58. Connecticut Water Service Inc. has a 12 month low of $34.15 and a 12 month high of $56.62.
Connecticut Water Service (NASDAQ:CTWS) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $0.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.18. Connecticut Water Service had a net margin of 23.55% and a return on equity of 10.65%. The company had revenue of $26.06 million for the quarter, compared to analyst estimates of $27.20 million. On average, equities research analysts anticipate that Connecticut Water Service Inc. will post $2.15 earnings per share for the current year.
A number of research firms have weighed in on CTWS. Zacks Investment Research upgraded Connecticut Water Service from a “hold” rating to a “strong-buy” rating and set a $57.00 price target on the stock in a research report on Wednesday, August 10th. Barclays PLC began coverage on Connecticut Water Service in a research note on Tuesday, September 6th. They set an “equal weight” rating and a $52.00 price objective on the stock.
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) and Chester Realty Company (Chester Realty).
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