Assenagon Asset Management S.A. bought a new stake in shares of Middlesex Water (NASDAQ:MSEX – Get Rating) during the third quarter, Holdings Channel reports. The fund bought 13,731 shares of the utilities provider’s stock, valued at approximately $1,060,000.
A number of other institutional investors have also added to or reduced their stakes in MSEX. Bank of New York Mellon Corp increased its position in Middlesex Water by 0.3% during the 1st quarter. Bank of New York Mellon Corp now owns 191,533 shares of the utilities provider’s stock valued at $20,144,000 after purchasing an additional 500 shares during the period. American Century Companies Inc. purchased a new position in shares of Middlesex Water in the 1st quarter worth approximately $740,000. Citigroup Inc. grew its position in shares of Middlesex Water by 17.4% in the 1st quarter. Citigroup Inc. now owns 17,760 shares of the utilities provider’s stock worth $1,867,000 after buying an additional 2,627 shares during the last quarter. Bank of Montreal Can grew its position in shares of Middlesex Water by 2.1% in the 1st quarter. Bank of Montreal Can now owns 6,060 shares of the utilities provider’s stock worth $645,000 after buying an additional 125 shares during the last quarter. Finally, MetLife Investment Management LLC grew its position in shares of Middlesex Water by 57.2% in the 1st quarter. MetLife Investment Management LLC now owns 9,417 shares of the utilities provider’s stock worth $990,000 after buying an additional 3,426 shares during the last quarter. Hedge funds and other institutional investors own 67.27% of the company’s stock.
Middlesex Water Stock Up 0.6 %
Shares of Middlesex Water stock opened at $81.81 on Friday. The firm’s 50 day moving average price is $87.68 and its 200-day moving average price is $87.66. The company has a quick ratio of 0.38, a current ratio of 0.45 and a debt-to-equity ratio of 0.76. Middlesex Water has a 52-week low of $74.20 and a 52-week high of $109.51. The company has a market cap of $1.44 billion, a P/E ratio of 34.23 and a beta of 0.71.
Middlesex Water Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, December 1st. Investors of record on Wednesday, November 16th were paid a $0.313 dividend. The ex-dividend date of this dividend was Tuesday, November 15th. This is a boost from Middlesex Water’s previous quarterly dividend of $0.29. This represents a $1.25 dividend on an annualized basis and a yield of 1.53%. Middlesex Water’s dividend payout ratio (DPR) is 52.30%.
Insider Buying and Selling
In related news, VP Bernadette M. Sohler sold 2,200 shares of Middlesex Water stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $92.03, for a total value of $202,466.00. Following the completion of the sale, the vice president now directly owns 3,373 shares in the company, valued at approximately $310,417.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.92% of the stock is owned by company insiders.
Analysts Set New Price Targets
Separately, StockNews.com raised shares of Middlesex Water from a “sell” rating to a “hold” rating in a research report on Wednesday, November 30th.
Middlesex Water Company Profile
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.
- Get a free copy of the StockNews.com research report on Middlesex Water (MSEX)
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