Northstar Asset Management Inc. Has $1.57 Million Holdings in Middlesex Water Company $MSEX

Northstar Asset Management Inc. decreased its holdings in Middlesex Water Company (NASDAQ:MSEX) by 26.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 27,967 shares of the utilities provider’s stock after selling 10,270 shares during the quarter. Northstar Asset Management Inc.’s holdings in Middlesex Water were worth $1,571,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. bought a new position in shares of Middlesex Water during the 2nd quarter worth approximately $25,000. Parallel Advisors LLC raised its stake in Middlesex Water by 68.6% in the 1st quarter. Parallel Advisors LLC now owns 521 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 212 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Middlesex Water in the 2nd quarter valued at $27,000. Western Wealth Management LLC acquired a new stake in Middlesex Water during the 1st quarter valued at $33,000. Finally, Versant Capital Management Inc lifted its holdings in Middlesex Water by 328.9% during the 2nd quarter. Versant Capital Management Inc now owns 682 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 523 shares during the last quarter. 79.52% of the stock is owned by institutional investors and hedge funds.

Middlesex Water Price Performance

Shares of NASDAQ MSEX opened at $58.49 on Friday. The firm has a market cap of $1.10 billion, a P/E ratio of 22.58 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. Middlesex Water Company has a 1-year low of $44.17 and a 1-year high of $62.17. The business’s 50 day moving average is $56.81 and its 200-day moving average is $54.10.

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 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be issued 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 dividend payout ratio (DPR) is currently 55.60%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Middlesex Water

In other news, VP Lorrie Beth Ginegaw sold 615 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $57.61, for a total value of $35,430.15. Following the completion of the sale, the vice president owned 3,978 shares of the company’s stock, valued at approximately $229,172.58. The trade was a 13.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.92% of the company’s stock.

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.