85,830 Shares in Middlesex Water Company $MSEX Bought by Nuance Investments LLC

Nuance Investments LLC purchased a new position in shares of Middlesex Water Company (NASDAQ:MSEX) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 85,830 shares of the utilities provider’s stock, valued at approximately $4,820,000. Middlesex Water accounts for 0.8% of Nuance Investments LLC’s investment portfolio, making the stock its 29th largest position.

Several other hedge funds have also recently bought and sold shares of the company. Parallel Advisors LLC increased its position in shares of Middlesex Water by 68.6% in the first quarter. Parallel Advisors LLC now owns 521 shares of the utilities provider’s stock valued at $27,000 after buying an additional 212 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Middlesex Water in the second quarter valued at approximately $27,000. Western Wealth Management LLC acquired a new position in Middlesex Water in the 1st quarter valued at $33,000. Versant Capital Management Inc lifted its position in Middlesex Water by 328.9% during the second quarter. Versant Capital Management Inc now owns 682 shares of the utilities provider’s stock worth $38,000 after buying an additional 523 shares during the period. Finally, KBC Group NV purchased a new position in shares of Middlesex Water during the 1st quarter worth about $45,000. 79.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on MSEX shares. 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 upgraded shares of Middlesex Water from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. New Street Research set a $64.00 price objective on Middlesex Water in a research note on Thursday, July 9th. Finally, Robert W. Baird set a $66.00 price objective on Middlesex Water in a research note 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of $61.67.

Insider Buying and Selling at Middlesex Water

In other news, VP Lorrie Beth Ginegaw sold 615 shares of the firm’s stock in a transaction dated 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 owned 3,978 shares in the company, valued at approximately $229,172.58. This trade represents a 13.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.92% of the company’s stock.

Middlesex Water Trading Down 1.2%

Shares of MSEX stock opened at $58.02 on Tuesday. The firm has a market capitalization of $1.09 billion, a PE ratio of 22.40 and a beta of 0.75. The stock has a fifty day moving average of $55.74 and a two-hundred day moving average of $53.69. Middlesex Water Company has a 1 year low of $44.17 and a 1 year high of $62.17. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.41 and a current ratio of 0.50.

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. The firm had revenue of $56.36 million for the quarter, compared to analysts’ expectations of $54.51 million. Middlesex Water had a net margin of 23.26% and a return on equity of 9.59%.

Middlesex Water Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $1.44 annualized dividend and a yield of 2.5%. Middlesex Water’s dividend payout ratio (DPR) is currently 55.60%.

About Middlesex Water

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.