Advisor Group Inc. decreased its position in Middlesex Water Company (NASDAQ:MSEX) by 0.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,786 shares of the utilities provider’s stock after selling 18 shares during the quarter. Advisor Group Inc. owned approximately 0.05% of Middlesex Water worth $348,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in MSEX. Legal & General Group Plc increased its position in shares of Middlesex Water by 4.1% during the second quarter. Legal & General Group Plc now owns 4,101 shares of the utilities provider’s stock valued at $162,000 after buying an additional 161 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new stake in Middlesex Water in the second quarter worth about $207,000. Russell Investments Group Ltd. purchased a new stake in Middlesex Water in the first quarter worth about $235,000. Stephens Inc. AR purchased a new stake in Middlesex Water in the second quarter worth about $305,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in Middlesex Water in the second quarter worth about $337,000. Hedge funds and other institutional investors own 49.05% of the company’s stock.
MSEX has been the topic of a number of recent research reports. Zacks Investment Research cut shares of Middlesex Water from a “hold” rating to a “sell” rating in a report on Friday, August 4th. ValuEngine upgraded shares of Middlesex Water from a “sell” rating to a “hold” rating in a report on Friday, August 4th. BidaskClub cut shares of Middlesex Water from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Finally, Janney Montgomery Scott restated a “buy” rating and issued a $44.00 price objective on shares of Middlesex Water in a report on Wednesday, October 4th.
Middlesex Water Company (NASDAQ MSEX) opened at 43.22 on Thursday. Middlesex Water Company has a 12 month low of $32.23 and a 12 month high of $44.48. The company has a market cap of $706.09 million, a P/E ratio of 32.62 and a beta of 0.41. The company’s 50-day moving average is $39.50 and its 200-day moving average is $38.25.
Middlesex Water (NASDAQ:MSEX) last released its earnings results on Tuesday, August 1st. The utilities provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.05). The company had revenue of $33.01 million during the quarter, compared to analyst estimates of $34.00 million. Middlesex Water had a return on equity of 9.95% and a net margin of 16.46%. On average, equities research analysts expect that Middlesex Water Company will post $1.48 EPS for the current fiscal year.
In related news, President Gerard L. Esposito sold 1,700 shares of the business’s stock in a transaction on Monday, October 9th. The shares were sold at an average price of $42.89, for a total value of $72,913.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.48% of the company’s stock.
Middlesex Water Profile
Middlesex Water Company is a water utility company. The Company owns and operates regulated water utility and wastewater systems in New Jersey, Delaware and Pennsylvania. The Company also operates water and wastewater systems under contract on behalf of municipal and private clients in New Jersey and Delaware.
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