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

Middlesex Water Company (NASDAQ:MSEX) VP Lorrie Beth Ginegaw sold 615 shares of Middlesex Water 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 completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Middlesex Water Price Performance

Shares of Middlesex Water stock opened at $58.22 on Monday. 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 has a fifty day simple moving average of $55.04 and a 200-day simple moving average of $53.46. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 22.48 and a beta of 0.75. Middlesex Water Company has a 1-year low of $44.17 and a 1-year high of $62.17.

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

Middlesex Water Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be paid a $0.36 dividend. 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 presently 55.60%.

Institutional Trading of Middlesex Water

Institutional investors have recently made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Middlesex Water in the second quarter valued at about $27,000. Parallel Advisors LLC lifted its stake in 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 purchasing an additional 212 shares during the period. Western Wealth Management LLC acquired a new stake in Middlesex Water during the first quarter valued at approximately $33,000. Versant Capital Management Inc boosted its holdings in Middlesex Water by 328.9% during the second 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 in the last quarter. Finally, KBC Group NV bought a new stake in shares of Middlesex Water in the 1st quarter valued at approximately $45,000. 79.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.