Middlesex Water (MSEX) VP Bernadette M. Sohler Sells 500 Shares

Middlesex Water (NASDAQ:MSEX) VP Bernadette M. Sohler sold 500 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $57.85, for a total value of $28,925.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Shares of Middlesex Water stock traded down $2.08 on Friday, reaching $56.52. 46,444 shares of the company were exchanged, compared to its average volume of 47,892. The company has a current ratio of 0.33, a quick ratio of 0.27 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $953.27 million, a price-to-earnings ratio of 28.84 and a beta of 0.44. Middlesex Water has a 1-year low of $34.74 and a 1-year high of $60.48.

Middlesex Water (NASDAQ:MSEX) last issued its quarterly earnings data on Friday, March 8th. The utilities provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. Middlesex Water had a return on equity of 13.50% and a net margin of 23.48%. The business had revenue of $33.27 million during the quarter, compared to analyst estimates of $33.00 million. Sell-side analysts predict that Middlesex Water will post 2.05 earnings per share for the current year.



The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 15th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend was Thursday, February 14th. Middlesex Water’s dividend payout ratio (DPR) is 48.98%.

Hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC grew its holdings in Middlesex Water by 7.0% in the 3rd quarter. AQR Capital Management LLC now owns 28,865 shares of the utilities provider’s stock worth $1,398,000 after buying an additional 1,879 shares in the last quarter. Man Group plc grew its holdings in Middlesex Water by 118.0% in the 3rd quarter. Man Group plc now owns 18,845 shares of the utilities provider’s stock worth $912,000 after buying an additional 10,199 shares in the last quarter. BlackRock Inc. grew its holdings in Middlesex Water by 0.6% in the 3rd quarter. BlackRock Inc. now owns 1,284,696 shares of the utilities provider’s stock worth $62,204,000 after buying an additional 8,058 shares in the last quarter. ClariVest Asset Management LLC bought a new position in Middlesex Water in the 4th quarter worth approximately $73,000. Finally, Vanguard Group Inc. grew its holdings in Middlesex Water by 4.3% in the 3rd quarter. Vanguard Group Inc. now owns 961,798 shares of the utilities provider’s stock worth $46,571,000 after buying an additional 40,017 shares in the last quarter. 54.74% of the stock is owned by institutional investors and hedge funds.

MSEX has been the topic of a number of research reports. BidaskClub cut Middlesex Water from a “buy” rating to a “hold” rating in a research report on Friday, February 8th. Zacks Investment Research cut Middlesex Water from a “buy” rating to a “hold” rating in a research report on Tuesday, February 5th. Finally, Janney Montgomery Scott cut Middlesex Water from a “buy” rating to a “neutral” rating in a research report on Monday, December 17th. They noted that the move was a valuation call.

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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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Insider Buying and Selling by Quarter for Middlesex Water (NASDAQ:MSEX)

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