Shares of the company are trading at $63.21 which is a tad above the 50 day moving average which is $59.24 and significantly above the 200 day moving average of $56.39. The 50 day moving average was up $3.97 and the 200 day average went up $6.82 or +12.09%. 39K shares changed hands in the last trading session. Trading volume was up 53.43% over the stocks average daily volume.
Traders are a little more bearish on shares of Connecticut Water Service, Inc. of late if you look at the change in short interest. The firm saw a rise in short interest between September 15, 2017 and September 29, 2017 of 2.11%. Short shares increased from 252,450 to 257,771 over that period. The short-interest ratio increased to 7.0 and the percentage of shorted shares was 0.02% on September 29.
Connecticut Water Service, Inc. (NASDAQ:CTWS) has been the object of insider selling activity recently. Maureen P. Westbrook, VP, Customer & Reg Affairs disclosed the sale of 1,500 shares. The shares were purchased at an average price of $55.94. The VP, Customer & Reg Affairs now owns $2,079,793 of the stock per the Form 4 SEC filing.
These funds have shifted positions in (CTWS). As of quarter end Ubs Group Ag had acquired 721 shares growing its stake by 196.5%. The value of the investment in (CTWS) went from $20,000 to $60,000 a change of $40,000 for the reporting period. As of the end of the quarter Baird Financial Group, Inc. had sold a total of 128 shares trimming its holdings by 0.2%. The value in dollars increased from $2,734,000 to $2,848,000 increasing 4.2% quarter over quarter.
Next Financial Group, Inc expanded its holdings by buying 3 shares an increase of 0.3% from 03/31/2017 to 06/30/2017. Next Financial Group, Inc owns 1,149 shares with a value of $64,000,000. The total value of its holdings increased 104,818.0%. Cutter & CO Brokerage, Inc. trimmed its stake by selling 1,672 shares a decrease of 1.9% in the quarter. Cutter & CO Brokerage, Inc. currently owns 85,366 shares worth $5,062,000. The value of the position overall is up by 4.8%.
September 22 investment analysts at Barclays held the stock rating at “Equal-Weight” and raised the price target to $57.00 from $52.00.
The company is now up by 0.03% percent from yesterday’s close. The company also recently announced a dividend paid on Friday September 15th, 2017. The dividend was $0.298 per share for the quarter which comes to $1.19 on an annualized basis. This dividend represents a yield of $1.87. The ex-dividend date was set for Wednesday the 30th of August 2017.
The most current P/E ratio is 31.57 and the market cap is 731.66M. As of the latest earnings report the EPS was $2.00 and is estimated to be $2.21 for the current year with 11,575,000 shares presently outstanding. Analysts expect next quarter’s EPS will be $0.21 and the next full year EPS is projected to be $2.28.
Connecticut Water Service, Inc., launched on February 1, 1956, is a non-operating holding company. The Company operates through three segments: Water Operations, Real Estate Transactions, and Services and Rentals. The Business’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). Connecticut Water and Maine Water are its regulated water companies (referred to as Regulated Companies)..