Middlesex Water (NASDAQ:MSEX) VP Robert K. Fullagar sold 500 shares of Middlesex Water stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $61.39, for a total transaction of $30,695.00. Following the completion of the sale, the vice president now owns 1,900 shares in the company, valued at $116,641. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Shares of MSEX opened at $60.17 on Friday. The company has a 50-day moving average price of $60.19. Middlesex Water has a one year low of $42.34 and a one year high of $63.67. The company has a market cap of $1.00 billion, a P/E ratio of 29.33 and a beta of 0.35. The company has a current ratio of 0.32, a quick ratio of 0.26 and a debt-to-equity ratio of 0.62.
Middlesex Water (NASDAQ:MSEX) last announced its quarterly earnings data on Monday, May 6th. The utilities provider reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.08. Middlesex Water had a net margin of 25.05% and a return on equity of 14.01%. The company had revenue of $30.70 million during the quarter, compared to the consensus estimate of $32.00 million. As a group, analysts expect that Middlesex Water will post 2.17 earnings per share for the current year.
MSEX has been the subject of a number of analyst reports. Janney Montgomery Scott reissued a “buy” rating and issued a $37.00 price objective on shares of SeaWorld Entertainment in a research report on Wednesday, May 8th. Zacks Investment Research downgraded shares of ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, BidaskClub raised shares of Winmark from a “sell” rating to a “hold” rating in a research report on Tuesday, May 14th.
Institutional investors and hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Middlesex Water by 95.7% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,376 shares of the utilities provider’s stock valued at $77,000 after acquiring an additional 673 shares during the period. Advisory Services Network LLC bought a new stake in shares of Middlesex Water during the 4th quarter worth about $93,000. Legal & General Group Plc boosted its holdings in shares of Middlesex Water by 10.4% during the 4th quarter. Legal & General Group Plc now owns 2,892 shares of the utilities provider’s stock worth $154,000 after buying an additional 273 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in shares of Middlesex Water by 4,284.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,332 shares of the utilities provider’s stock worth $187,000 after buying an additional 3,256 shares during the period. Finally, ETF Managers Group LLC boosted its holdings in shares of Middlesex Water by 11.0% during the 1st quarter. ETF Managers Group LLC now owns 3,941 shares of the utilities provider’s stock worth $221,000 after buying an additional 390 shares during the period. 54.61% of the stock is owned by institutional investors.
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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