Raymond James Financial Services Advisors Inc. Sells 945 Shares of Middlesex Water (NASDAQ:MSEX)

Raymond James Financial Services Advisors Inc. decreased its position in shares of Middlesex Water (NASDAQ:MSEX – Get Rating) by 8.2% during the 3rd quarter, Holdings Channel reports. The fund owned 10,622 shares of the utilities provider’s stock after selling 945 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Middlesex Water were worth $820,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Meeder Asset Management Inc. boosted its stake in Middlesex Water by 67.9% during the 2nd quarter. Meeder Asset Management Inc. now owns 393 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 159 shares during the last quarter. Captrust Financial Advisors raised its holdings in Middlesex Water by 2,666.7% during the 2nd quarter. Captrust Financial Advisors now owns 664 shares of the utilities provider’s stock worth $58,000 after buying an additional 640 shares during the period. Total Clarity Wealth Management Inc. acquired a new stake in Middlesex Water during the 2nd quarter worth approximately $66,000. Point72 Hong Kong Ltd acquired a new stake in Middlesex Water during the 2nd quarter worth approximately $152,000. Finally, Quantbot Technologies LP acquired a new stake in Middlesex Water during the 1st quarter worth approximately $254,000. Institutional investors own 67.27% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Middlesex Water from a “sell” rating to a “hold” rating in a report on Wednesday, November 30th.

Insider Activity

In other 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 sale, the vice president now directly owns 3,373 shares in the company, valued at $310,417.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.92% of the stock is owned by corporate insiders.

Middlesex Water Stock Performance

Shares of MSEX stock opened at $80.64 on Monday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.38 and a current ratio of 0.45. Middlesex Water has a 52 week low of $74.20 and a 52 week high of $109.51. The company has a market capitalization of $1.42 billion, a P/E ratio of 33.74 and a beta of 0.71. The company’s 50 day moving average price is $86.97 and its two-hundred day moving average price is $87.35.

Middlesex Water (NASDAQ:MSEX – Get Rating) last posted its quarterly earnings data on Friday, October 28th. The utilities provider reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.08). Middlesex Water had a net margin of 26.96% and a return on equity of 11.12%. The business had revenue of $47.73 million during the quarter, compared to analyst estimates of $47.00 million. On average, analysts expect that Middlesex Water will post 2.29 earnings per share for the current fiscal year.

Middlesex Water Company Profile

(Get Rating)

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.