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.
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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