UBS Asset Management Americas Inc. Sells 1,370 Shares of Middlesex Water (NASDAQ:MSEX)

UBS Asset Management Americas Inc. reduced its holdings in shares of Middlesex Water (NASDAQ:MSEX) by 12.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,028 shares of the utilities provider’s stock after selling 1,370 shares during the quarter. UBS Asset Management Americas Inc. owned approximately 0.06% of Middlesex Water worth $594,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of MSEX. First Trust Advisors LP lifted its holdings in Middlesex Water by 27.1% during the first quarter. First Trust Advisors LP now owns 116,403 shares of the utilities provider’s stock worth $6,517,000 after acquiring an additional 24,814 shares during the period. Amundi Pioneer Asset Management Inc. increased its position 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 worth $13,766,000 after buying an additional 17,275 shares during the last quarter. CENTRAL TRUST Co purchased a new stake in Middlesex Water in the second quarter worth $30,000. NEXT Financial Group Inc purchased a new stake in Middlesex Water in the second quarter worth $203,000. Finally, Bessemer Group Inc. increased its position in Middlesex Water by 1.6% in the second quarter. Bessemer Group Inc. now owns 37,575 shares of the utilities provider’s stock worth $2,227,000 after buying an additional 600 shares during the last quarter. Institutional investors and hedge funds own 55.51% of the company’s stock.

MSEX has been the subject of a number of recent research reports. BidaskClub downgraded Middlesex Water from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Zacks Investment Research raised Middlesex Water from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, ValuEngine downgraded Middlesex Water from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd.

NASDAQ:MSEX traded down $0.38 during trading hours on Friday, reaching $65.14. The stock had a trading volume of 10,234 shares, compared to its average volume of 70,238. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.26 and a current ratio of 0.31. The stock has a 50 day simple moving average of $62.95 and a 200 day simple moving average of $59.92. Middlesex Water has a 12-month low of $43.12 and a 12-month high of $66.10. The stock has a market cap of $1.06 billion, a P/E ratio of 33.23 and a beta of 0.34.

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 Zacks’ consensus estimate of $0.55 by ($0.06). The firm had revenue of $33.39 million during the quarter, compared to analysts’ expectations of $36.00 million. Middlesex Water had a return on equity of 13.43% and a net margin of 24.95%. On average, equities analysts expect that Middlesex Water will post 1.97 earnings per share for the current fiscal year.

Middlesex Water 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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