Vanguard Group Inc. Reduces Stock Position in Middlesex Water Company $MSEX

Vanguard Group Inc. cut its position in Middlesex Water Company (NASDAQ:MSEX) by 3.6% during the third quarter, Holdings Channel reports. The firm owned 1,373,488 shares of the utilities provider’s stock after selling 50,794 shares during the period. Vanguard Group Inc. owned approximately 0.07% of Middlesex Water worth $74,333,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. HighTower Advisors LLC lifted its holdings in shares of Middlesex Water by 20.0% during the third quarter. HighTower Advisors LLC now owns 23,086 shares of the utilities provider’s stock worth $1,249,000 after purchasing an additional 3,843 shares during the period. Public Sector Pension Investment Board increased its holdings in Middlesex Water by 15.1% in the 3rd quarter. Public Sector Pension Investment Board now owns 70,322 shares of the utilities provider’s stock worth $3,806,000 after buying an additional 9,223 shares during the period. Rhumbline Advisers raised its position in Middlesex Water by 1.3% during the 3rd quarter. Rhumbline Advisers now owns 54,235 shares of the utilities provider’s stock worth $2,935,000 after buying an additional 715 shares during the last quarter. ProShare Advisors LLC raised its position in Middlesex Water by 7.4% during the 3rd quarter. ProShare Advisors LLC now owns 119,385 shares of the utilities provider’s stock worth $6,461,000 after buying an additional 8,177 shares during the last quarter. Finally, Oppenheimer & Co. Inc. lifted its stake in Middlesex Water by 2.8% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 26,765 shares of the utilities provider’s stock valued at $1,449,000 after acquiring an additional 730 shares during the period. 79.52% of the stock is currently owned by hedge funds and other institutional investors.

Middlesex Water Stock Up 0.7%

Middlesex Water stock opened at $54.11 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.45 and a debt-to-equity ratio of 0.77. Middlesex Water Company has a 52 week low of $44.17 and a 52 week high of $67.09. The business’s 50-day moving average price is $52.91 and its 200 day moving average price is $53.40. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of 22.93, a price-to-earnings-growth ratio of 2.51 and a beta of 0.90.

Middlesex Water (NASDAQ:MSEX) last announced its quarterly earnings results on Thursday, February 19th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.03). The firm had revenue of $46.98 million for the quarter, compared to analysts’ expectations of $46.91 million. Middlesex Water had a return on equity of 9.09% and a net margin of 21.99%. As a group, sell-side analysts anticipate that Middlesex Water Company will post 2.34 earnings per share for the current year.

Middlesex Water Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Tuesday, February 17th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Tuesday, February 17th. Middlesex Water’s dividend payout ratio is presently 61.02%.

Analyst Upgrades and Downgrades

MSEX has been the topic of several recent research reports. Loop Capital set a $55.00 price objective on shares of Middlesex Water in a report on Wednesday, February 25th. New Street Research set a $52.00 target price on shares of Middlesex Water in a report on Friday, December 5th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Middlesex Water in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $59.00.

Insider Activity

In other Middlesex Water news, Director Robert N. Hoglund purchased 2,000 shares of Middlesex Water stock in a transaction that occurred on Friday, February 27th. The stock was bought at an average price of $54.31 per share, with a total value of $108,620.00. Following the acquisition, the director owned 2,000 shares of the company’s stock, valued at $108,620. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.32% of the stock is currently owned by insiders.

About Middlesex Water

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.