California Public Employees Retirement System Reduces Holdings in Middlesex Water (MSEX)

California Public Employees Retirement System decreased its position in shares of Middlesex Water (NASDAQ:MSEX) by 13.7% during the 2nd quarter, Holdings Channel reports. The firm owned 104,731 shares of the utilities provider’s stock after selling 16,569 shares during the quarter. California Public Employees Retirement System’s holdings in Middlesex Water were worth $4,417,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sei Investments Co. boosted its stake in shares of Middlesex Water by 6,000.0% during the second quarter. Sei Investments Co. now owns 2,562 shares of the utilities provider’s stock worth $108,000 after buying an additional 2,520 shares during the period. Private Advisor Group LLC acquired a new stake in shares of Middlesex Water during the second quarter worth about $333,000. JPMorgan Chase & Co. boosted its stake in shares of Middlesex Water by 80.7% during the first quarter. JPMorgan Chase & Co. now owns 8,098 shares of the utilities provider’s stock worth $298,000 after buying an additional 3,616 shares during the period. TD Asset Management Inc. boosted its stake in shares of Middlesex Water by 69.3% during the second quarter. TD Asset Management Inc. now owns 10,751 shares of the utilities provider’s stock worth $453,000 after buying an additional 4,400 shares during the period. Finally, Strs Ohio boosted its stake in shares of Middlesex Water by 9.4% during the second quarter. Strs Ohio now owns 13,900 shares of the utilities provider’s stock worth $586,000 after buying an additional 1,200 shares during the period. Institutional investors and hedge funds own 53.25% of the company’s stock.

Shares of MSEX opened at $44.86 on Friday. Middlesex Water has a fifty-two week low of $33.96 and a fifty-two week high of $49.00. The stock has a market cap of $793.72 million, a PE ratio of 32.51 and a beta of 0.39. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.38 and a quick ratio of 0.32.

Middlesex Water (NASDAQ:MSEX) last announced its earnings results on Thursday, August 2nd. The utilities provider reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.14. Middlesex Water had a net margin of 19.56% and a return on equity of 11.34%. The business had revenue of $34.92 million during the quarter, compared to the consensus estimate of $34.00 million. On average, sell-side analysts anticipate that Middlesex Water will post 1.84 EPS for the current year.

MSEX has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Middlesex Water from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Thursday, August 9th. ValuEngine upgraded shares of Middlesex Water from a “hold” rating to a “buy” rating in a research note on Monday, July 2nd. Finally, BidaskClub downgraded shares of Middlesex Water from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 25th.

In related news, VP A Bruce Oconnor sold 3,321 shares of the firm’s stock in a transaction dated Friday, October 5th. The shares were sold at an average price of $45.82, for a total value of $152,168.22. Following the completion of the sale, the vice president now owns 16,307 shares in the company, valued at $747,186.74. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Lorrie Beth Ginegaw sold 760 shares of the firm’s stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $44.45, for a total transaction of $33,782.00. Following the completion of the sale, the vice president now owns 8,131 shares of the company’s stock, valued at approximately $361,422.95. The disclosure for this sale can be found here. 3.48% of the stock is owned by company insiders.

About Middlesex Water

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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