Middlesex Water Company $MSEX Shares Bought by Odyssean LLC

Odyssean LLC lifted its position in shares of Middlesex Water Company (NASDAQ:MSEX) by 133.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,227 shares of the utilities provider’s stock after buying an additional 9,833 shares during the quarter. Odyssean LLC owned approximately 0.09% of Middlesex Water worth $967,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. acquired a new stake in Middlesex Water during the second quarter worth approximately $25,000. Parallel Advisors LLC raised its holdings in Middlesex Water by 68.6% in the 1st quarter. Parallel Advisors LLC now owns 521 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 212 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Middlesex Water in the 2nd quarter valued at $27,000. Western Wealth Management LLC purchased a new position in shares of Middlesex Water during the 1st quarter worth $33,000. Finally, Versant Capital Management Inc lifted its stake in shares of Middlesex Water by 328.9% during the 2nd quarter. Versant Capital Management Inc now owns 682 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 523 shares during the period. Institutional investors and hedge funds own 79.52% of the company’s stock.

Analysts Set New Price Targets

MSEX has been the subject of a number of recent analyst reports. Robert W. Baird set a $66.00 price objective on Middlesex Water in a research report on Friday, July 31st. Wall Street Zen upgraded Middlesex Water from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings raised Middlesex Water from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 4th. Finally, New Street Research set a $64.00 price target on Middlesex Water in a report on Thursday, July 9th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $61.67.

Insider Buying and Selling at Middlesex Water

In other news, VP Lorrie Beth Ginegaw sold 615 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $57.61, for a total value of $35,430.15. Following the completion of the sale, the vice president owned 3,978 shares in the company, valued at approximately $229,172.58. This trade represents a 13.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.92% of the stock is owned by insiders.

Middlesex Water Stock Performance

Shares of MSEX stock opened at $58.51 on Thursday. The company has a current ratio of 0.50, a quick ratio of 0.41 and a debt-to-equity ratio of 0.76. The company has a market cap of $1.10 billion, a PE ratio of 22.59 and a beta of 0.75. The company’s fifty day simple moving average is $56.57 and its 200-day simple moving average is $54.03. Middlesex Water Company has a 52 week low of $44.17 and a 52 week high of $62.17.

Middlesex Water (NASDAQ:MSEX) last announced its quarterly earnings results on Thursday, July 30th. The utilities provider reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.13. Middlesex Water had a net margin of 23.26% and a return on equity of 9.59%. The firm had revenue of $56.36 million during the quarter, compared to analysts’ expectations of $54.51 million.

Middlesex Water Announces Dividend

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

Middlesex Water Company Profile

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.