Principal Financial Group Inc. Grows Position in Middlesex Water Company $MSEX

Principal Financial Group Inc. grew its position in shares of Middlesex Water Company (NASDAQ:MSEX) by 23.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 126,343 shares of the utilities provider’s stock after acquiring an additional 23,911 shares during the quarter. Principal Financial Group Inc. owned 0.70% of Middlesex Water worth $6,838,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in MSEX. Northstar Asset Management Inc. lifted its position in shares of Middlesex Water by 52.0% during the third quarter. Northstar Asset Management Inc. now owns 51,795 shares of the utilities provider’s stock valued at $2,803,000 after purchasing an additional 17,723 shares in the last quarter. Amalgamated Bank grew its position in Middlesex Water by 3.5% in the 3rd quarter. Amalgamated Bank now owns 5,257 shares of the utilities provider’s stock worth $285,000 after purchasing an additional 179 shares in the last quarter. Versant Capital Management Inc increased its stake in Middlesex Water by 483.5% in the 3rd quarter. Versant Capital Management Inc now owns 566 shares of the utilities provider’s stock valued at $31,000 after buying an additional 469 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Middlesex Water by 35.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 645 shares of the utilities provider’s stock worth $35,000 after buying an additional 170 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Middlesex Water by 2.3% during the 3rd quarter. SG Americas Securities LLC now owns 26,500 shares of the utilities provider’s stock worth $1,434,000 after buying an additional 586 shares in the last quarter. Institutional investors own 79.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Middlesex Water in a report on Thursday, January 22nd. Robert W. Baird cut their price objective on Middlesex Water from $73.00 to $63.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. Finally, New Street Research set a $52.00 price objective on Middlesex Water in a research note on Friday, December 5th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Middlesex Water presently has a consensus rating of “Moderate Buy” and an average target price of $60.33.

Middlesex Water Stock Performance

NASDAQ:MSEX opened at $55.39 on Friday. The company has a market capitalization of $1.02 billion, a P/E ratio of 23.18, a P/E/G ratio of 3.47 and a beta of 0.89. The business has a fifty day simple moving average of $52.19 and a two-hundred day simple moving average of $53.21. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.42 and a quick ratio of 0.36. Middlesex Water Company has a 1 year low of $44.17 and a 1 year high of $67.09.

Middlesex Water Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 17th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $1.44 annualized dividend and a yield of 2.6%. Middlesex Water’s dividend payout ratio is 60.25%.

Middlesex Water Company Profile

Middlesex Water Company is a regulated utility specializing in the provision of potable water and wastewater collection services to residential, commercial and industrial customers. The company operates through its wholly owned subsidiaries, supplying treated water and effectively managing sewage collection systems under state and local regulatory frameworks. Its core mission centers on delivering safe, reliable water while complying with stringent environmental and public health standards.

Founded in 1897 and headquartered in Iselin, New Jersey, Middlesex Water has grown from a local water works enterprise into a multi‐state utilities group.