BlackRock Inc. Buys Shares of 3,134,461 Middlesex Water Company $MSEX

BlackRock Inc. bought a new stake in Middlesex Water Company (NASDAQ:MSEX) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,134,461 shares of the utilities provider’s stock, valued at approximately $176,031,000. BlackRock Inc. owned about 0.17% of Middlesex Water at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Middlesex Water during the second quarter worth $27,000. Parallel Advisors LLC boosted its position in shares of Middlesex Water by 68.6% during the first quarter. Parallel Advisors LLC now owns 521 shares of the utilities provider’s stock worth $27,000 after buying an additional 212 shares during the period. Western Wealth Management LLC acquired a new stake in shares of Middlesex Water in the first quarter valued at $33,000. Versant Capital Management Inc grew its stake in shares of Middlesex Water by 328.9% in the second quarter. Versant Capital Management Inc now owns 682 shares of the utilities provider’s stock valued at $38,000 after buying an additional 523 shares in the last quarter. Finally, KBC Group NV purchased a new stake in shares of Middlesex Water in the 1st quarter valued at $45,000. Hedge funds and other institutional investors own 79.52% of the company’s stock.

Insider Activity at Middlesex Water

In related news, VP Lorrie Beth Ginegaw sold 615 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $229,172.58. This represents a 13.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.92% of the company’s stock.

Middlesex Water Stock Down 1.1%

Shares of NASDAQ MSEX opened at $57.86 on Friday. The stock has a market cap of $1.09 billion, a P/E ratio of 22.34 and a beta of 0.75. The business’s fifty day simple moving average is $56.68 and its 200-day simple moving average is $54.07. Middlesex Water Company has a 12-month low of $44.17 and a 12-month high of $62.17. The company has a current ratio of 0.50, a quick ratio of 0.41 and a debt-to-equity ratio of 0.76.

Middlesex Water (NASDAQ:MSEX) last issued its quarterly earnings results on Thursday, July 30th. The utilities provider reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.13. The company had revenue of $56.36 million for the quarter, compared to the consensus estimate 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. Stockholders of record on Monday, August 17th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend 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 currently 55.60%.

Analyst Ratings Changes

A number of equities analysts recently commented on MSEX shares. Wall Street Zen upgraded Middlesex Water from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. New Street Research set a $64.00 target price on Middlesex Water in a research report on Thursday, July 9th. Robert W. Baird set a $66.00 price target on shares of Middlesex Water in a research report on Friday, July 31st. Finally, Weiss Ratings raised shares of Middlesex Water from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $61.67.

Middlesex Water 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.