Trading Report: The First Trust Advisors LP Invests $527,000 in Connecticut Water Service Inc. (CTWS)

The First Trust Advisors LP Invests $527,000 in Connecticut Water Service Inc. (CTWS)

First Trust Advisors LP acquired a new position in shares of Connecticut Water Service Inc. (NASDAQ:CTWS) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 9,374 shares of the company’s stock, valued at approximately $527,000. First Trust Advisors LP owned approximately 0.08% of Connecticut Water Service at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Teton Advisors Inc. bought a new position in shares of Connecticut Water Service during the second quarter worth about $225,000. California Public Employees Retirement System bought a new position in shares of Connecticut Water Service during the second quarter worth about $697,000. Emerald Acquisition Ltd. bought a new position in shares of Connecticut Water Service during the second quarter worth about $6,420,000. KBC Group NV increased its position in shares of Connecticut Water Service by 55.9% in the second quarter. KBC Group NV now owns 51,913 shares of the company’s stock worth $2,918,000 after buying an additional 18,607 shares during the last quarter. Finally, Swiss National Bank increased its position in shares of 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. 44.51% of the stock is currently owned by institutional investors and hedge funds.

Shares of Connecticut Water Service Inc. (NASDAQ:CTWS) traded up 2.28% during mid-day trading on Wednesday, reaching $50.59. 8,941 shares of the company traded hands. The stock has a market capitalization of $568.18 million, a PE ratio of 23.42 and a beta of 0.16. The firm has a 50 day moving average of $48.82 and a 200-day moving average of $49.35. Connecticut Water Service Inc. has a 52 week low of $34.15 and a 52 week high of $56.62.

Connecticut Water Service (NASDAQ:CTWS) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.18. The company earned $26.06 million during the quarter, compared to the consensus estimate of $27.20 million. Connecticut Water Service had a return on equity of 10.65% and a net margin of 23.55%. On average, equities research analysts expect that Connecticut Water Service Inc. will post $2.15 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were given a $0.2825 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $1.13 dividend on an annualized basis and a yield of 2.28%. Connecticut Water Service’s dividend payout ratio is presently 52.31%.

A number of analysts have recently weighed in on CTWS shares. Zacks Investment Research downgraded shares of Connecticut Water Service from a “buy” rating to a “hold” rating in a research report on Tuesday, July 12th. Barclays PLC started coverage on shares of Connecticut Water Service in a research report on Tuesday, September 6th. They issued an “equal weight” rating and a $52.00 target price 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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