Renaissance Technologies LLC lessened its holdings in Middlesex Water (NASDAQ:MSEX) by 3.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 567,900 shares of the utilities provider’s stock after selling 21,900 shares during the period. Renaissance Technologies LLC owned about 3.43% of Middlesex Water worth $33,648,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of MSEX. CENTRAL TRUST Co acquired a new stake in Middlesex Water during the second quarter valued at $30,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Middlesex Water by 95.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,376 shares of the utilities provider’s stock worth $77,000 after buying an additional 673 shares during the last quarter. Advisory Services Network LLC lifted its position in shares of Middlesex Water by 9.5% in the second quarter. Advisory Services Network LLC now owns 2,078 shares of the utilities provider’s stock worth $123,000 after buying an additional 181 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of Middlesex Water by 4,284.2% in the first 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 last quarter. Finally, Bank of Montreal Can lifted its position in shares of Middlesex Water by 71.0% in the second quarter. Bank of Montreal Can now owns 3,264 shares of the utilities provider’s stock worth $193,000 after buying an additional 1,355 shares during the last quarter. 55.51% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ:MSEX traded up $0.42 on Friday, reaching $62.03. The company had a trading volume of 949 shares, compared to its average volume of 58,711. Middlesex Water has a twelve month low of $43.12 and a twelve month high of $63.67. The stock has a 50-day moving average price of $60.10 and a 200 day moving average price of $58.86. The stock has a market capitalization of $977.02 million, a P/E ratio of 31.60 and a beta of 0.36. The company has a quick ratio of 0.26, a current ratio of 0.31 and a debt-to-equity ratio of 0.64.
Middlesex Water (NASDAQ:MSEX) last announced its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.06). Middlesex Water had a return on equity of 13.43% and a net margin of 24.95%. The company had revenue of $33.39 million during the quarter, compared to analyst estimates of $36.00 million. On average, sell-side analysts predict that Middlesex Water will post 1.97 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were paid a $0.24 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.55%. Middlesex Water’s payout ratio is presently 48.98%.
A number of analysts have weighed in on MSEX shares. BidaskClub cut Middlesex Water from a “buy” rating to a “hold” rating in a research report on Saturday, September 7th. Zacks Investment Research cut Middlesex Water from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 7th.
In other news, VP Robert K. Fullagar sold 500 shares of Middlesex Water stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $61.39, for a total value of $30,695.00. Following the transaction, the vice president now directly owns 1,900 shares in the company, valued at $116,641. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Lorrie Beth Ginegaw sold 650 shares of Middlesex Water stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $61.48, for a total value of $39,962.00. Following the completion of the transaction, the vice president now owns 5,779 shares in the company, valued at $355,292.92. The disclosure for this sale can be found here. Insiders own 3.49% of the company’s stock.
Middlesex Water Profile
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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