Middlesex Water (NASDAQ:MSEX) VP Lorrie Beth Ginegaw Sells 615 Shares

Middlesex Water Company (NASDAQ:MSEX) VP Lorrie Beth Ginegaw sold 615 shares of the business’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $57.61, for a total transaction of $35,430.15. Following the completion of the sale, the vice president directly owned 3,978 shares of the company’s stock, valued at $229,172.58. This represents a 13.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Middlesex Water Stock Performance

NASDAQ MSEX opened at $58.22 on Friday. The company has a 50-day simple moving average of $55.04 and a two-hundred day simple moving average of $53.47. Middlesex Water Company has a 12-month low of $44.17 and a 12-month high of $62.17. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 22.48 and a beta of 0.75. The company has a quick ratio of 0.41, a current ratio of 0.50 and a debt-to-equity ratio of 0.76.

Middlesex Water (NASDAQ:MSEX) last released its quarterly earnings data on Thursday, July 30th. The utilities provider reported $0.79 EPS for the quarter, topping the consensus estimate of $0.66 by $0.13. Middlesex Water had a return on equity of 9.59% and a net margin of 23.26%.The firm had revenue of $56.36 million for the quarter, compared to the consensus estimate of $54.51 million.

Middlesex Water Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Monday, August 17th. Middlesex Water’s payout ratio is 55.60%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Nuance Investments LLC bought a new position in Middlesex Water in the 2nd quarter worth $4,820,000. BlackRock Inc. bought a new stake in shares of Middlesex Water during the 2nd quarter valued at about $176,031,000. Deutsche Bank AG purchased a new position in shares of Middlesex Water during the second quarter valued at about $1,172,000. Perigon Wealth Management LLC purchased a new position in shares of Middlesex Water during the second quarter valued at about $280,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Middlesex Water during the second quarter valued at about $27,000. 79.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on MSEX shares. Robert W. Baird set a $66.00 price objective on Middlesex Water in a research report on Friday, July 31st. New Street Research set a $64.00 target price on shares of Middlesex Water in a report on Thursday, July 9th. Wall Street Zen raised shares of Middlesex Water from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings upgraded shares of Middlesex Water from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.67.

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.