UBS Asset Management Americas Inc. continued to hold its position in Middlesex Water Company (NASDAQ:MSEX) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,300 shares of the utilities provider’s stock at the end of the second quarter. UBS Asset Management Americas Inc.’s holdings in Middlesex Water were worth $249,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in MSEX. Vanguard Group Inc. raised its holdings in shares of Middlesex Water by 19.6% in the 1st quarter. Vanguard Group Inc. now owns 923,000 shares of the utilities provider’s stock worth $34,105,000 after purchasing an additional 150,958 shares during the period. First Trust Advisors LP purchased a new position in shares of Middlesex Water in the 2nd quarter worth about $3,309,000. Nuance Investments LLC purchased a new position in shares of Middlesex Water in the 2nd quarter worth about $3,011,000. ProShare Advisors LLC raised its holdings in shares of Middlesex Water by 26.2% in the 2nd quarter. ProShare Advisors LLC now owns 203,745 shares of the utilities provider’s stock worth $8,068,000 after purchasing an additional 42,346 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of Middlesex Water by 9.0% in the 1st quarter. Renaissance Technologies LLC now owns 496,000 shares of the utilities provider’s stock worth $18,327,000 after purchasing an additional 40,800 shares during the period. Institutional investors own 48.99% of the company’s stock.
In related news, President Gerard L. Esposito sold 1,700 shares of the company’s stock in a transaction on Monday, October 9th. The shares were sold at an average price of $42.89, for a total transaction of $72,913.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.48% of the stock is owned by corporate insiders.
A number of equities analysts have recently commented on MSEX shares. Zacks Investment Research upgraded Middlesex Water from a “sell” rating to a “hold” rating in a report on Wednesday, October 4th. ValuEngine upgraded Middlesex Water from a “sell” rating to a “hold” rating in a report on Friday, August 4th. 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. Finally, BidaskClub lowered Middlesex Water from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th.
Shares of Middlesex Water Company (MSEX) opened at $43.05 on Friday. The company has a market cap of $723.80 million, a PE ratio of 35.42 and a beta of 0.43. The company has a quick ratio of 0.45, a current ratio of 0.54 and a debt-to-equity ratio of 0.61.
Middlesex Water (NASDAQ:MSEX) last released its quarterly earnings results on Tuesday, August 1st. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.05). The business had revenue of $33.01 million for the quarter, compared to analysts’ expectations of $34.00 million. Middlesex Water had a net margin of 15.77% and a return on equity of 9.39%. research analysts expect that Middlesex Water Company will post 1.48 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Thursday, November 9th will be paid a dividend of $0.2238 per share. This is an increase from Middlesex Water’s previous quarterly dividend of $0.21. The ex-dividend date is Wednesday, November 8th. This represents a $0.90 dividend on an annualized basis and a yield of 2.08%. Middlesex Water’s dividend payout ratio is presently 68.00%.
Middlesex Water Company 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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