Parametric Portfolio Associates LLC lessened its stake in shares of Middlesex Water Company (NASDAQ:MSEX) by 73.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,178 shares of the utilities provider’s stock after selling 127,088 shares during the quarter. Parametric Portfolio Associates LLC owned about 0.28% of Middlesex Water worth $1,789,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. American International Group Inc. grew its holdings in Middlesex Water by 7.1% during the 1st quarter. American International Group Inc. now owns 9,770 shares of the utilities provider’s stock valued at $361,000 after buying an additional 644 shares in the last quarter. AQR Capital Management LLC grew its holdings in Middlesex Water by 7.1% during the 1st quarter. AQR Capital Management LLC now owns 89,026 shares of the utilities provider’s stock valued at $3,289,000 after buying an additional 5,883 shares in the last quarter. Geode Capital Management LLC grew its holdings in Middlesex Water by 3.0% during the 1st quarter. Geode Capital Management LLC now owns 152,394 shares of the utilities provider’s stock valued at $5,630,000 after buying an additional 4,400 shares in the last quarter. Stephens Inc. AR purchased a new position in Middlesex Water during the 2nd quarter valued at about $305,000. Finally, Ameriprise Financial Inc. grew its holdings in Middlesex Water by 1.2% during the 1st quarter. Ameriprise Financial Inc. now owns 10,852 shares of the utilities provider’s stock valued at $401,000 after buying an additional 130 shares in the last quarter. 48.92% of the stock is owned by institutional investors and hedge funds.
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In other news, President Gerard L. Esposito sold 1,700 shares of Middlesex Water stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $42.89, for a total transaction of $72,913.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.48% of the company’s stock.
Shares of Middlesex Water Company (MSEX) opened at $42.04 on Friday. The stock has a market capitalization of $687.19, a PE ratio of 33.63 and a beta of 0.43. The company has a current ratio of 0.51, a quick ratio of 0.43 and a debt-to-equity ratio of 0.60. Middlesex Water Company has a 12-month low of $32.23 and a 12-month high of $46.39.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Thursday, November 9th will be given a dividend of $0.2238 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date is Wednesday, November 8th. This is an increase from Middlesex Water’s previous quarterly dividend of $0.21. Middlesex Water’s dividend payout ratio (DPR) is 71.20%.
A number of research analysts have weighed in on MSEX shares. Zacks Investment Research raised Middlesex Water from a “sell” rating to a “hold” rating in a report on Wednesday, October 4th. Janney Montgomery Scott reaffirmed a “buy” rating and set a $44.00 target price on shares of Middlesex Water in a report on Wednesday, October 4th. ValuEngine raised Middlesex Water from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Finally, BidaskClub lowered Middlesex Water from a “hold” rating to a “sell” rating in a report on Thursday, August 10th.
Middlesex Water Profile
Middlesex Water Company is a water utility company. The Company owns and operates regulated water utility and wastewater systems in New Jersey, Delaware and Pennsylvania. The Company also operates water and wastewater systems under contract on behalf of municipal and private clients in New Jersey and Delaware.
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