Middlesex Water (NASDAQ:MSEX) Shares Sold by Spire Wealth Management

Spire Wealth Management lessened its stake in Middlesex Water (NASDAQ:MSEXFree Report) by 47.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,335 shares of the utilities provider’s stock after selling 2,118 shares during the period. Spire Wealth Management’s holdings in Middlesex Water were worth $155,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Point72 Asset Management L.P. bought a new position in shares of Middlesex Water during the 4th quarter valued at about $25,000. Natixis Investment Managers International bought a new position in shares of Middlesex Water during the 2nd quarter valued at about $34,000. Lazard Asset Management LLC bought a new position in shares of Middlesex Water during the 4th quarter valued at about $42,000. US Bancorp DE boosted its position in shares of Middlesex Water by 334.3% during the 2nd quarter. US Bancorp DE now owns 608 shares of the utilities provider’s stock valued at $49,000 after purchasing an additional 468 shares in the last quarter. Finally, Belpointe Asset Management LLC boosted its position in shares of Middlesex Water by 35.8% during the 1st quarter. Belpointe Asset Management LLC now owns 668 shares of the utilities provider’s stock valued at $52,000 after purchasing an additional 176 shares in the last quarter. Institutional investors own 70.52% of the company’s stock.

Middlesex Water Stock Performance

Shares of MSEX opened at $56.44 on Friday. Middlesex Water has a one year low of $54.01 and a one year high of $86.97. The company has a 50-day moving average of $62.89 and a two-hundred day moving average of $67.79. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 30.67 and a beta of 0.77. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.12 and a quick ratio of 1.07.

Middlesex Water (NASDAQ:MSEXGet Free Report) last announced its earnings results on Thursday, November 9th. The utilities provider reported $0.56 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.32). Middlesex Water had a return on equity of 8.06% and a net margin of 19.78%. The firm had revenue of $46.72 million during the quarter, compared to analyst estimates of $50.00 million. On average, equities research analysts expect that Middlesex Water will post 1.9 earnings per share for the current year.

Middlesex Water Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Thursday, February 15th will be issued a $0.325 dividend. This represents a $1.30 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Wednesday, February 14th. Middlesex Water’s payout ratio is 70.65%.

Wall Street Analysts Forecast Growth

Separately, TheStreet lowered shares of Middlesex Water from a “b-” rating to a “c+” rating in a research report on Friday, October 20th.

Get Our Latest Research Report on MSEX

Insiders Place Their Bets

In other Middlesex Water news, Director James F. Jr. Cosgrove sold 1,352 shares of the firm’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $66.83, for a total value of $90,354.16. Following the completion of the transaction, the director now directly owns 7,742 shares in the company, valued at $517,397.86. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.86% of the company’s stock.

Middlesex Water Company Profile

(Free Report)

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.

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

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