Vanguard Group Inc. Grows Position in Middlesex Water Company $MSEX

Vanguard Group Inc. increased its holdings in Middlesex Water Company (NASDAQ:MSEX) by 1.8% in the fourth quarter, Holdings Channel reports. The fund owned 1,398,851 shares of the utilities provider’s stock after purchasing an additional 25,363 shares during the quarter. Vanguard Group Inc. owned 0.08% of Middlesex Water worth $70,530,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC lifted its stake in Middlesex Water by 35.8% in the third quarter. Nisa Investment Advisors LLC now owns 645 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 170 shares during the period. Amalgamated Bank lifted its stake in 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 acquiring an additional 179 shares during the period. Raymond James Financial Inc. lifted its stake in Middlesex Water by 1.8% in 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 lifted its stake in Middlesex Water by 3.3% in the second quarter. The Manufacturers Life Insurance Company now owns 6,602 shares of the utilities provider’s stock worth $358,000 after acquiring an additional 208 shares during the period. Finally, State of Alaska Department of Revenue lifted its stake in Middlesex Water by 2.8% in the fourth quarter. State of Alaska Department of Revenue now owns 9,870 shares of the utilities provider’s stock worth $496,000 after acquiring an additional 271 shares during the period. 79.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wall Street Zen raised shares of Middlesex Water from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings raised shares of Middlesex Water from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 4th. Finally, Loop Capital set a $55.00 price objective on shares of Middlesex Water in a research note on Wednesday, February 25th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $56.67.

Insider Activity at Middlesex Water

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

Middlesex Water Stock Performance

MSEX stock opened at $51.92 on Friday. The firm has a market cap of $966.75 million, a price-to-earnings ratio of 21.63 and a beta of 0.78. The firm has a 50-day simple moving average of $52.39 and a two-hundred day simple moving average of $52.59. Middlesex Water Company has a one year low of $44.17 and a one year high of $62.17. 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 (NASDAQ:MSEX) last released its quarterly earnings results on Thursday, April 30th. The utilities provider reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. The business had revenue of $48.71 million during the quarter, compared to analyst estimates of $49.75 million. Middlesex Water had a net margin of 22.07% and a return on equity of 9.08%.

Middlesex Water Dividend Announcement

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

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.