Texas Permanent School Fund decreased its stake in Middlesex Water (NASDAQ:MSEX – Get Rating) by 2.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,405 shares of the utilities provider's stock after selling 265 shares during the quarter. Texas Permanent School Fund owned approximately 0.07% of Middlesex Water worth $1,305,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the business. Pictet Asset Management SA raised its position in Middlesex Water by 42.0% in the 4th quarter. Pictet Asset Management SA now owns 636,883 shares of the utilities provider's stock valued at $76,616,000 after purchasing an additional 188,479 shares during the last quarter. Geode Capital Management LLC grew its stake in Middlesex Water by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 306,874 shares of the utilities provider's stock valued at $36,916,000 after acquiring an additional 2,546 shares during the period. First Trust Advisors LP grew its stake in Middlesex Water by 20.8% in the fourth quarter. First Trust Advisors LP now owns 206,118 shares of the utilities provider's stock valued at $24,796,000 after acquiring an additional 35,516 shares during the period. KBC Group NV grew its stake in Middlesex Water by 2.5% in the first quarter. KBC Group NV now owns 200,062 shares of the utilities provider's stock valued at $21,041,000 after acquiring an additional 4,834 shares during the period. Finally, Principal Financial Group Inc. grew its stake in Middlesex Water by 13.8% in the fourth quarter. Principal Financial Group Inc. now owns 148,395 shares of the utilities provider's stock valued at $17,852,000 after acquiring an additional 17,986 shares during the period. Institutional investors own 68.14% of the company's stock.
Get Middlesex Water alerts:Insider Activity
In other news, VP Lorrie Beth Ginegaw sold 620 shares of the stock in a transaction that occurred on Tuesday, June 21st. The stock was sold at an average price of $80.34, for a total value of $49,810.80. Following the completion of the sale, the vice president now owns 155 shares of the company's stock, valued at approximately $12,452.70. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.92% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Several research analysts have recently weighed in on MSEX shares. StockNews.com raised Middlesex Water from a "sell" rating to a "hold" rating in a research report on Thursday. TheStreet upgraded Middlesex Water from a "c+" rating to a "b-" rating in a research note on Monday, July 25th. Janney Montgomery Scott raised Middlesex Water from a "neutral" rating to a "buy" rating in a report on Friday, June 24th. Finally, Robert W. Baird cut their price objective on Middlesex Water from $102.00 to $99.00 in a report on Monday, May 2nd.Middlesex Water Trading Up 2.1 %
NASDAQ MSEX opened at $93.92 on Monday. The company has a market cap of $1.65 billion, a PE ratio of 41.93 and a beta of 0.55. The company has a current ratio of 0.50, a quick ratio of 0.42 and a debt-to-equity ratio of 0.79. Middlesex Water has a 12 month low of $75.77 and a 12 month high of $121.43. The stock has a 50 day moving average of $87.93 and a 200-day moving average of $93.27.
Middlesex Water Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Friday, August 12th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Thursday, August 11th. Middlesex Water's payout ratio is presently 51.79%.
About Middlesex Water
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Middlesex Water Company owns and operates regulated water utility and wastewater systems. It operates in two segments, Regulated and Non-Regulated. The Regulated segment collects, treats, and distributes water on a retail and wholesale basis to residential, commercial, industrial, and fire protection customers, as well as provides regulated wastewater systems in New Jersey and Delaware.
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