Middlesex Water Company $MSEX Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in shares of Middlesex Water Company (NASDAQ:MSEX) by 88.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,140 shares of the utilities provider’s stock after selling 32,615 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Middlesex Water were worth $209,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Nisa Investment Advisors LLC raised its stake in shares of Middlesex Water by 35.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 645 shares of the utilities provider’s stock valued at $35,000 after buying an additional 170 shares during the last quarter. Amalgamated Bank boosted its stake in shares of Middlesex Water by 3.5% in the third quarter. Amalgamated Bank now owns 5,257 shares of the utilities provider’s stock worth $285,000 after buying an additional 179 shares during the last quarter. Raymond James Financial Inc. grew its holdings in Middlesex Water by 1.8% during the second quarter. Raymond James Financial Inc. now owns 10,691 shares of the utilities provider’s stock worth $579,000 after acquiring an additional 193 shares during the period. The Manufacturers Life Insurance Company raised its position in Middlesex Water by 3.3% during the second quarter. The Manufacturers Life Insurance Company now owns 6,602 shares of the utilities provider’s stock valued at $358,000 after acquiring an additional 208 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its position in Middlesex Water by 2.8% during the fourth quarter. State of Alaska Department of Revenue now owns 9,870 shares of the utilities provider’s stock valued at $496,000 after acquiring an additional 271 shares in the last quarter. 79.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Middlesex Water

In other news, Director Robert N. Hoglund purchased 2,000 shares of the company’s stock in a transaction that occurred on Friday, February 27th. The stock was purchased at an average cost of $54.31 per share, for a total transaction of $108,620.00. Following the completion of the transaction, the director owned 2,000 shares of the company’s stock, valued at $108,620. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on MSEX shares. Weiss Ratings restated a “hold (c-)” rating on shares of Middlesex Water in a research report on Tuesday, April 21st. Loop Capital set a $55.00 price target on Middlesex Water in a report on Wednesday, February 25th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Middlesex Water presently has an average rating of “Moderate Buy” and an average target price of $59.00.

Middlesex Water Price Performance

Middlesex Water stock opened at $50.93 on Wednesday. The stock has a market capitalization of $948.32 million, a P/E ratio of 21.22 and a beta of 0.78. The company’s fifty day moving average price is $52.78 and its 200 day moving average price is $52.98. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.32 and a current ratio of 0.39. Middlesex Water Company has a 1 year low of $44.17 and a 1 year high of $62.17.

Middlesex Water (NASDAQ:MSEX) last posted its quarterly earnings data on Thursday, April 30th. The utilities provider reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.57. Middlesex Water had a net margin of 22.07% and a return on equity of 9.08%. The business had revenue of $48.71 million for the quarter, compared to the consensus estimate of $49.75 million.

Middlesex Water Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.8%. Middlesex Water’s payout ratio is currently 60.00%.

About Middlesex Water

Middlesex Water Company is a regulated utility specializing in the provision of potable water and wastewater collection services to residential, commercial and industrial customers. The company operates through its wholly owned subsidiaries, supplying treated water and effectively managing sewage collection systems under state and local regulatory frameworks. Its core mission centers on delivering safe, reliable water while complying with stringent environmental and public health standards.

Founded in 1897 and headquartered in Iselin, New Jersey, Middlesex Water has grown from a local water works enterprise into a multi‐state utilities group.