Middlesex Water (NASDAQ:MSEX) VP Sells $35,430.15 in Stock

Middlesex Water Company (NASDAQ:MSEX) VP Lorrie Beth Ginegaw sold 615 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $57.61, for a total transaction of $35,430.15. Following the sale, the vice president directly owned 3,978 shares of the company’s stock, valued at approximately $229,172.58. The trade was a 13.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Middlesex Water Stock Performance

Middlesex Water stock traded up $0.55 during trading on Friday, reaching $57.91. The company had a trading volume of 85,998 shares, compared to its average volume of 150,250. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 22.35 and a beta of 0.75. The company has a current ratio of 0.50, a quick ratio of 0.41 and a debt-to-equity ratio of 0.76. The firm’s 50-day simple moving average is $54.93 and its 200 day simple moving average is $53.43. Middlesex Water Company has a 52 week low of $44.17 and a 52 week high of $62.17.

Middlesex Water (NASDAQ:MSEX) last released its quarterly earnings results on Thursday, July 30th. The utilities provider reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.13. The business had revenue of $56.36 million during the quarter, compared to analyst estimates of $54.51 million. Middlesex Water had a return on equity of 9.59% and a net margin of 23.26%.

Middlesex Water Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be paid a dividend of $0.36 per share. The ex-dividend date is Monday, August 17th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.5%. Middlesex Water’s payout ratio is 55.60%.

Analyst Ratings Changes

MSEX has been the topic of several analyst reports. Robert W. Baird set a $66.00 price target on shares of Middlesex Water in a report on Friday, July 31st. Wall Street Zen raised shares of Middlesex Water from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. New Street Research set a $64.00 target price on shares of Middlesex Water in a research note on Thursday, July 9th. Finally, Weiss Ratings raised shares of Middlesex Water from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.67.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MSEX. BlackRock Inc. purchased a new stake in Middlesex Water during the 2nd quarter valued at approximately $176,031,000. Deutsche Bank AG purchased a new position in shares of Middlesex Water in the second quarter worth $1,172,000. Perigon Wealth Management LLC purchased a new position in shares of Middlesex Water in the second quarter worth $280,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Middlesex Water during the second quarter worth $27,000. Finally, Global Retirement Partners LLC bought a new position in shares of Middlesex Water during the second quarter worth $72,000. 79.52% of the stock is currently owned by institutional investors.

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.