Bessemer Group Inc. lowered its stake in Connecticut Water Service, Inc. (NASDAQ:CTWS) by 26.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,500 shares of the utilities provider’s stock after selling 1,254 shares during the period. Bessemer Group Inc.’s holdings in Connecticut Water Service were worth $201,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. QS Investors LLC acquired a new stake in Connecticut Water Service in the second quarter valued at approximately $111,000. Citadel Advisors LLC acquired a new position in shares of Connecticut Water Service during the third quarter worth $207,000. Moors & Cabot Inc. acquired a new position in shares of Connecticut Water Service during the third quarter worth $210,000. Cedar Hill Associates LLC acquired a new position in shares of Connecticut Water Service during the third quarter worth $281,000. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Connecticut Water Service by 4.8% during the second quarter. Ameriprise Financial Inc. now owns 4,814 shares of the utilities provider’s stock worth $290,000 after purchasing an additional 219 shares during the period. Hedge funds and other institutional investors own 45.89% of the company’s stock.
A number of brokerages have recently commented on CTWS. Zacks Investment Research upgraded shares of Connecticut Water Service from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 6th. BidaskClub upgraded shares of Connecticut Water Service from a “strong sell” rating to a “sell” rating in a report on Monday, February 5th.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be issued a dividend of $0.2975 per share. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $1.19 dividend on an annualized basis and a dividend yield of 2.26%. Connecticut Water Service’s dividend payout ratio (DPR) is presently 57.77%.
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Connecticut Water Service 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),The Avon Water Company (AWC) and Chester Realty Company (Chester Realty).
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