Gamco Investors INC. ET AL Has $1.30 Million Position in Connecticut Water Service Inc (CTWS)

Gamco Investors INC. ET AL boosted its holdings in Connecticut Water Service Inc (NASDAQ:CTWS) by 11.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,900 shares of the utilities provider’s stock after acquiring an additional 2,000 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Connecticut Water Service were worth $1,297,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its stake in shares of Connecticut Water Service by 4.3% in the third quarter. Bank of New York Mellon Corp now owns 103,456 shares of the utilities provider’s stock valued at $7,176,000 after buying an additional 4,234 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Connecticut Water Service by 312.0% in the third quarter. JPMorgan Chase & Co. now owns 19,445 shares of the utilities provider’s stock valued at $1,349,000 after buying an additional 14,725 shares in the last quarter. MetLife Investment Advisors LLC increased its stake in shares of Connecticut Water Service by 22.8% in the third quarter. MetLife Investment Advisors LLC now owns 8,045 shares of the utilities provider’s stock valued at $558,000 after buying an additional 1,493 shares in the last quarter. Morgan Stanley increased its stake in shares of Connecticut Water Service by 163.3% in the third quarter. Morgan Stanley now owns 203,187 shares of the utilities provider’s stock valued at $14,096,000 after buying an additional 126,015 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Connecticut Water Service by 7.7% in the third quarter. Vanguard Group Inc. now owns 734,907 shares of the utilities provider’s stock valued at $50,981,000 after buying an additional 52,256 shares in the last quarter. 51.24% of the stock is currently owned by institutional investors and hedge funds.

Shares of CTWS stock opened at $69.54 on Wednesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.47 and a quick ratio of 0.45. The stock has a market capitalization of $839.84 million, a P/E ratio of 30.37 and a beta of -0.03. Connecticut Water Service Inc has a 12 month low of $62.05 and a 12 month high of $70.44.

Connecticut Water Service (NASDAQ:CTWS) last announced its quarterly earnings data on Wednesday, May 8th. The utilities provider reported $0.19 EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.02). The firm had revenue of $27.86 million during the quarter. Connecticut Water Service had a return on equity of 8.72% and a net margin of 16.21%. Equities analysts anticipate that Connecticut Water Service Inc will post 2.3 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be given a $0.3275 dividend. This represents a $1.31 dividend on an annualized basis and a yield of 1.88%. This is a positive change from Connecticut Water Service’s previous quarterly dividend of $0.31. The ex-dividend date is Friday, May 31st. Connecticut Water Service’s dividend payout ratio (DPR) is presently 54.59%.

CTWS has been the subject of a number of research reports. TheStreet lowered Connecticut Water Service from a “b” rating to a “c+” rating in a research note on Thursday, March 7th. BidaskClub upgraded Connecticut Water Service from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th. Wells Fargo & Co restated a “hold” rating on shares of Connecticut Water Service in a research note on Friday, March 1st. Finally, Zacks Investment Research upgraded Connecticut Water Service from a “sell” rating to a “hold” rating in a research note on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $66.50.

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Connecticut Water Service Profile

Connecticut Water Service, Inc, together with its subsidiaries, operates as a regulated water company. The company operates through three segments: Water Operations, Real Estate Transactions, and Services and Rentals. The Water Operations segment supplies public drinking water and provides wastewater services.

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Institutional Ownership by Quarter for Connecticut Water Service (NASDAQ:CTWS)

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