Middlesex Water (NASDAQ:MSEX) Stock Position Raised by SG Americas Securities LLC

Share on StockTwits

SG Americas Securities LLC lifted its position in Middlesex Water (NASDAQ:MSEX) by 56.9% in the 2nd quarter, Holdings Channel reports. The fund owned 12,431 shares of the utilities provider’s stock after buying an additional 4,507 shares during the period. SG Americas Securities LLC’s holdings in Middlesex Water were worth $835,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Middlesex Water in the 2nd quarter valued at approximately $1,063,000. Advisor Group Holdings Inc. purchased a new stake in shares of Middlesex Water in the 1st quarter valued at approximately $1,077,000. Eaton Vance Management lifted its position in shares of Middlesex Water by 21.9% in the 1st quarter. Eaton Vance Management now owns 347,075 shares of the utilities provider’s stock valued at $20,866,000 after acquiring an additional 62,285 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Middlesex Water by 2.3% in the 1st quarter. Wells Fargo & Company MN now owns 45,827 shares of the utilities provider’s stock valued at $2,755,000 after acquiring an additional 1,049 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Middlesex Water by 12.6% in the 1st quarter. Geode Capital Management LLC now owns 269,322 shares of the utilities provider’s stock valued at $16,190,000 after acquiring an additional 30,156 shares in the last quarter. Institutional investors and hedge funds own 58.85% of the company’s stock.

In related news, CEO Dennis W. Doll sold 2,000 shares of Middlesex Water stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $70.26, for a total transaction of $140,520.00. Following the completion of the transaction, the chief executive officer now directly owns 52,569 shares of the company’s stock, valued at approximately $3,693,497.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Georgia M. Simpson sold 500 shares of Middlesex Water stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $62.48, for a total transaction of $31,240.00. Following the transaction, the vice president now directly owns 2,471 shares of the company’s stock, valued at $154,388.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,050 shares of company stock worth $403,828. 3.13% of the stock is currently owned by company insiders.

MSEX stock opened at $64.06 on Friday. Middlesex Water has a 12-month low of $48.79 and a 12-month high of $72.41. The company has a quick ratio of 0.43, a current ratio of 0.50 and a debt-to-equity ratio of 0.73. The company has a market cap of $1.12 billion, a price-to-earnings ratio of 31.25 and a beta of 0.26. The company has a 50 day moving average of $66.28 and a two-hundred day moving average of $63.85.

Middlesex Water (NASDAQ:MSEX) last released its earnings results on Friday, July 31st. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Middlesex Water had a net margin of 25.78% and a return on equity of 11.75%. The company had revenue of $35.28 million during the quarter, compared to the consensus estimate of $35.00 million. On average, research analysts anticipate that Middlesex Water will post 2.09 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be paid a dividend of $0.256 per share. The ex-dividend date is Thursday, August 13th. This represents a $1.02 annualized dividend and a dividend yield of 1.60%. Middlesex Water’s dividend payout ratio (DPR) is 50.75%.

A number of research firms have issued reports on MSEX. Zacks Investment Research upgraded shares of Middlesex Water from a “hold” rating to a “strong-buy” rating and set a $70.00 target price for the company in a research report on Friday, May 8th. BidaskClub downgraded shares of Middlesex Water from a “buy” rating to a “hold” rating in a research report on Thursday, July 9th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Middlesex Water presently has an average rating of “Buy” and an average target price of $73.00.

Middlesex Water Company Profile

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.

Featured Article: What is Compound Annual Growth Rate (CAGR)?

Want to see what other hedge funds are holding MSEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Middlesex Water (NASDAQ:MSEX).

Institutional Ownership by Quarter for Middlesex Water (NASDAQ:MSEX)

Receive News & Ratings for Middlesex Water Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Middlesex Water and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Assenagon Asset Management S.A. Purchases Shares of 5,815 EnPro Industries, Inc.
Assenagon Asset Management S.A. Purchases Shares of 5,815 EnPro Industries, Inc.
FLIR Systems, Inc.  Shares Sold by Oregon Public Employees Retirement Fund
FLIR Systems, Inc. Shares Sold by Oregon Public Employees Retirement Fund
Oregon Public Employees Retirement Fund Reduces Position in Navient Corp
Oregon Public Employees Retirement Fund Reduces Position in Navient Corp
SG Americas Securities LLC Trims Position in EVO Payments Inc
SG Americas Securities LLC Trims Position in EVO Payments Inc
Oregon Public Employees Retirement Fund Sells 4,195 Shares of IPG Photonics Co.
Oregon Public Employees Retirement Fund Sells 4,195 Shares of IPG Photonics Co.
NXP Semiconductors  Price Target Lowered to $127.00 at Mizuho
NXP Semiconductors Price Target Lowered to $127.00 at Mizuho


© 2006-2020 Ticker Report