Connecticut Water Service, Inc. (NASDAQ:CTWS) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Friday.

Separately, Zacks Investment Research upgraded Connecticut Water Service from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a research note on Wednesday, August 16th.

Connecticut Water Service (NASDAQ:CTWS) opened at 54.88 on Friday. The firm’s 50-day moving average is $56.27 and its 200 day moving average is $55.04. The company has a market cap of $635.24 million, a PE ratio of 27.41 and a beta of 0.09. Connecticut Water Service has a 1-year low of $45.13 and a 1-year high of $62.15.

Connecticut Water Service (NASDAQ:CTWS) last released its quarterly earnings results on Tuesday, August 8th. The utilities provider reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by $0.03. The firm had revenue of $29.50 million for the quarter. Connecticut Water Service had a return on equity of 9.21% and a net margin of 21.37%. Analysts predict that Connecticut Water Service will post $2.21 earnings per share for the current fiscal year.

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In other Connecticut Water Service news, VP Maureen P. Westbrook sold 1,500 shares of the stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $55.94, for a total transaction of $83,910.00. Following the completion of the sale, the vice president now directly owns 37,179 shares of the company’s stock, valued at approximately $2,079,793.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.52% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the company. Cutter & CO Brokerage Inc. bought a new stake in Connecticut Water Service during the second quarter worth $4,832,000. Parametric Portfolio Associates LLC boosted its stake in Connecticut Water Service by 310.2% in the first quarter. Parametric Portfolio Associates LLC now owns 104,807 shares of the utilities provider’s stock worth $5,570,000 after buying an additional 79,255 shares during the last quarter. Kennedy Capital Management Inc. bought a new stake in Connecticut Water Service during the first quarter worth $3,599,000. Water Asset Management LLC boosted its stake in Connecticut Water Service by 45.6% in the first quarter. Water Asset Management LLC now owns 208,632 shares of the utilities provider’s stock worth $11,089,000 after buying an additional 65,340 shares during the last quarter. Finally, First Trust Advisors LP bought a new stake in Connecticut Water Service during the second quarter worth $3,087,000. 46.59% of the stock is owned by institutional investors.

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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