UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $2.34 Million Stock Holdings in Middlesex Water Company $MSEX

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in shares of Middlesex Water Company (NASDAQ:MSEX) by 24.9% during the second quarter, HoldingsChannel reports. The firm owned 41,679 shares of the utilities provider’s stock after selling 13,810 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Middlesex Water were worth $2,341,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in MSEX. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Middlesex Water in the 2nd quarter valued at $25,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Middlesex Water during the 2nd quarter worth $27,000. Parallel Advisors LLC lifted its holdings 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 acquiring an additional 212 shares in the last quarter. Western Wealth Management LLC acquired a new position in Middlesex Water in the first quarter valued at about $33,000. Finally, Versant Capital Management Inc grew its stake in 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 acquiring an additional 523 shares during the period. Institutional investors and hedge funds own 79.52% of the company’s stock.

Middlesex Water Stock Down 0.9%

NASDAQ:MSEX opened at $56.69 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.41 and a current ratio of 0.50. The company has a market cap of $1.07 billion, a PE ratio of 21.89 and a beta of 0.74. Middlesex Water Company has a 52-week low of $44.17 and a 52-week high of $62.17. The stock has a 50-day simple moving average of $57.34 and a 200 day simple moving average of $54.40.

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

Middlesex Water Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were issued a $0.36 dividend. The ex-dividend date was 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 55.60%.

Insider Activity at Middlesex Water

In other news, VP Lorrie 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 value of $35,430.15. Following the sale, the vice president owned 3,978 shares of the company’s stock, valued at $229,172.58. The trade was a 13.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.92% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on MSEX shares. New Street Research set a $64.00 price target on Middlesex Water in a report on Thursday, July 9th. Weiss Ratings raised shares of Middlesex Water from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 4th. Finally, Robert W. Baird set a $66.00 price objective on shares of Middlesex Water in a report on Friday, July 31st. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Middlesex Water presently has a consensus rating of “Moderate Buy” and a consensus target price 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.