Renaissance Technologies LLC Has $33.65 Million Stock Position in Middlesex Water (NASDAQ:MSEX)

Renaissance Technologies LLC lowered its stake in Middlesex Water (NASDAQ:MSEX) by 3.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 567,900 shares of the utilities provider’s stock after selling 21,900 shares during the period. Renaissance Technologies LLC’s holdings in Middlesex Water were worth $33,648,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of MSEX. Raymond James Financial Services Advisors Inc. boosted its position in Middlesex Water by 452.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 58,283 shares of the utilities provider’s stock valued at $3,263,000 after buying an additional 47,726 shares in the last quarter. First Trust Advisors LP lifted its holdings in Middlesex Water by 35.5% in the second quarter. First Trust Advisors LP now owns 157,759 shares of the utilities provider’s stock valued at $9,347,000 after buying an additional 41,356 shares during the period. Penn Capital Management Co. Inc. lifted its holdings in Middlesex Water by 291.4% in the second quarter. Penn Capital Management Co. Inc. now owns 26,808 shares of the utilities provider’s stock valued at $1,588,000 after buying an additional 19,958 shares during the period. Amundi Pioneer Asset Management Inc. lifted its holdings in Middlesex Water by 7.6% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 245,858 shares of the utilities provider’s stock valued at $13,766,000 after buying an additional 17,275 shares during the period. Finally, Chicago Equity Partners LLC acquired a new position in Middlesex Water in the second quarter valued at $792,000. Hedge funds and other institutional investors own 55.51% of the company’s stock.

In other Middlesex Water news, VP Robert K. Fullagar sold 500 shares of Middlesex Water stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $61.39, for a total value of $30,695.00. Following the completion of the sale, the vice president now directly owns 1,900 shares of the company’s stock, valued at $116,641. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Lorrie Beth Ginegaw sold 650 shares of Middlesex Water stock in a transaction on Friday, July 5th. The shares were sold at an average price of $61.48, for a total transaction of $39,962.00. Following the completion of the sale, the vice president now directly owns 5,779 shares of the company’s stock, valued at $355,292.92. The disclosure for this sale can be found here. Insiders own 3.49% of the company’s stock.

MSEX stock traded up $0.42 during midday trading on Friday, hitting $62.03. The stock had a trading volume of 949 shares, compared to its average volume of 58,711. The firm has a market cap of $977.02 million, a P/E ratio of 31.60 and a beta of 0.36. The company has a current ratio of 0.31, a quick ratio of 0.26 and a debt-to-equity ratio of 0.64. Middlesex Water has a 1-year low of $43.12 and a 1-year high of $63.67. The business has a fifty day moving average price of $60.10 and a two-hundred day moving average price of $58.86.

Middlesex Water (NASDAQ:MSEX) last released its earnings results on Wednesday, July 31st. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.06). The firm had revenue of $33.39 million during the quarter, compared to analyst estimates of $36.00 million. Middlesex Water had a net margin of 24.95% and a return on equity of 13.43%. On average, equities analysts anticipate that Middlesex Water will post 1.97 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.55%. The ex-dividend date was Wednesday, August 14th. Middlesex Water’s dividend payout ratio (DPR) is currently 48.98%.

Several research firms recently issued reports on MSEX. BidaskClub lowered shares of Middlesex Water from a “buy” rating to a “hold” rating in a report on Saturday, September 7th. Zacks Investment Research lowered shares of Middlesex Water from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 7th.

Middlesex Water Company Profile

Middlesex Water Company, together with its subsidiaries, owns and operates regulated water utility and wastewater systems. It operates in two segments, Regulated and Non-Regulated. The Regulated segment engages in collecting, treating, and distributing water on a retail and wholesale basis to residential, commercial, industrial, and fire protection customers in parts of New Jersey, Delaware, and Pennsylvania.

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Institutional Ownership by Quarter for Middlesex Water (NASDAQ:MSEX)

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