Middlesex Water Co. (NASDAQ:MSEX) VP A Bruce Oconnor sold 1,350 shares of the business’s stock in a transaction dated Monday, October 17th. The stock was sold at an average price of $33.88, for a total transaction of $45,738.00. Following the completion of the sale, the vice president now owns 16,756 shares in the company, valued at $567,693.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Middlesex Water Co. (NASDAQ:MSEX) opened at 33.79 on Wednesday. Middlesex Water Co. has a 52-week low of $24.01 and a 52-week high of $44.11. The company has a 50 day moving average of $34.38 and a 200 day moving average of $37.12. The stock has a market capitalization of $550.10 million, a price-to-earnings ratio of 25.22 and a beta of 0.47.
Middlesex Water (NASDAQ:MSEX) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.36 earnings per share for the quarter. Middlesex Water had a return on equity of 10.58% and a net margin of 17.08%. The business had revenue of $32.70 million for the quarter, compared to the consensus estimate of $31.60 million. Analysts predict that Middlesex Water Co. will post $1.30 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Impax Asset Management LTD bought a new position in shares of Middlesex Water during the second quarter worth $8,395,000. Bridgeway Capital Management Inc. bought a new position in shares of Middlesex Water during the second quarter worth $2,805,000. ProShare Advisors LLC bought a new position in shares of Middlesex Water during the second quarter worth $2,132,000. Janney Montgomery Scott LLC increased its position in shares of Middlesex Water by 80.4% in the second quarter. Janney Montgomery Scott LLC now owns 96,574 shares of the company’s stock worth $4,190,000 after buying an additional 43,037 shares during the last quarter. Finally, BlackRock Group LTD increased its position in shares of Middlesex Water by 587.4% in the second quarter. BlackRock Group LTD now owns 50,147 shares of the company’s stock worth $2,174,000 after buying an additional 42,852 shares during the last quarter. 43.91% of the stock is currently owned by institutional investors and hedge funds.
About Middlesex Water
Middlesex Water Company is a water utility company. The Company has two segments: regulated and non-regulated. The regulated business includes 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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