Landsberg Bennett & Dubbaneh LLC trimmed its position in shares of Middlesex Water (NASDAQ:MSEX) by 7.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,547 shares of the utilities provider’s stock after selling 3,062 shares during the period. Landsberg Bennett & Dubbaneh LLC’s holdings in Middlesex Water were worth $2,229,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Middlesex Water by 1.0% during the fourth quarter. BlackRock Inc. now owns 1,297,466 shares of the utilities provider’s stock valued at $69,220,000 after acquiring an additional 12,770 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Middlesex Water by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 623,157 shares of the utilities provider’s stock worth $33,245,000 after buying an additional 5,500 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its stake in Middlesex Water by 7.6% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 245,858 shares of the utilities provider’s stock worth $13,766,000 after buying an additional 17,275 shares in the last quarter. Geode Capital Management LLC raised its stake in Middlesex Water by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 197,090 shares of the utilities provider’s stock worth $10,514,000 after buying an additional 10,712 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in Middlesex Water by 27.1% in the first quarter. First Trust Advisors LP now owns 116,403 shares of the utilities provider’s stock worth $6,517,000 after buying an additional 24,814 shares in the last quarter. 54.59% of the stock is owned by hedge funds and other institutional investors.
In other Middlesex Water news, CEO Dennis W. Doll sold 3,127 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $61.33, for a total transaction of $191,778.91. Following the completion of the transaction, the chief executive officer now owns 59,011 shares of the company’s stock, valued at $3,619,144.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO A Bruce Oconnor sold 1,700 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $61.06, for a total transaction of $103,802.00. Following the transaction, the chief financial officer now directly owns 19,155 shares of the company’s stock, valued at approximately $1,169,604.30. The disclosure for this sale can be found here. Insiders have sold 6,782 shares of company stock valued at $414,470 in the last ninety days. Insiders own 3.49% of the company’s stock.
A number of equities analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of ExlService from a “hold” rating to a “sell” rating in a research note on Wednesday, July 10th. Janney Montgomery Scott reissued a “buy” rating and issued a $37.00 price target on shares of SeaWorld Entertainment in a research note on Wednesday, May 8th. Finally, BidaskClub raised shares of Winmark from a “sell” rating to a “hold” rating in a research note on Tuesday, May 14th.
MSEX stock traded up $0.99 during trading on Friday, reaching $61.43. The company had a trading volume of 48,207 shares, compared to its average volume of 53,177. Middlesex Water has a 52 week low of $42.34 and a 52 week high of $63.67. The stock has a market cap of $1.00 billion, a P/E ratio of 31.34 and a beta of 0.35. The business’s 50 day moving average price is $60.15. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.26 and a current ratio of 0.32.
Middlesex Water (NASDAQ:MSEX) last announced its earnings results on Monday, May 6th. The utilities provider reported $0.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.08. Middlesex Water had a net margin of 25.05% and a return on equity of 14.01%. The business had revenue of $30.70 million during the quarter, compared to the consensus estimate of $32.00 million. Analysts forecast that Middlesex Water will post 2.17 earnings per share for the current year.
About Middlesex Water
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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