Middlesex Water (NASDAQ:MSEX) Shares Acquired by Quadrant Capital Group LLC

Quadrant Capital Group LLC boosted its position in Middlesex Water (NASDAQ:MSEX) by 958.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,439 shares of the utilities provider’s stock after buying an additional 1,303 shares during the quarter. Quadrant Capital Group LLC’s holdings in Middlesex Water were worth $94,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Private Advisor Group LLC lifted its stake in shares of Middlesex Water by 3.5% in the fourth quarter. Private Advisor Group LLC now owns 10,183 shares of the utilities provider’s stock worth $668,000 after acquiring an additional 342 shares in the last quarter. Swiss National Bank grew its position in shares of Middlesex Water by 1.0% during the third quarter. Swiss National Bank now owns 38,862 shares of the utilities provider’s stock worth $2,575,000 after buying an additional 400 shares in the last quarter. Cerity Partners LLC increased its stake in shares of Middlesex Water by 2.8% in the fourth quarter. Cerity Partners LLC now owns 16,055 shares of the utilities provider’s stock worth $1,054,000 after buying an additional 433 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in Middlesex Water by 13.9% during the 4th quarter. Handelsbanken Fonder AB now owns 4,215 shares of the utilities provider’s stock valued at $277,000 after acquiring an additional 515 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in Middlesex Water by 25.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 3,631 shares of the utilities provider’s stock worth $238,000 after acquiring an additional 728 shares in the last quarter. 79.52% of the stock is owned by hedge funds and other institutional investors.

Middlesex Water Price Performance

Shares of NASDAQ:MSEX opened at $53.85 on Friday. The company has a market cap of $960.15 million, a PE ratio of 26.66 and a beta of 0.74. Middlesex Water has a fifty-two week low of $45.42 and a fifty-two week high of $84.38. The firm has a 50-day simple moving average of $51.68 and a 200 day simple moving average of $57.47. The company has a quick ratio of 0.89, a current ratio of 0.95 and a debt-to-equity ratio of 0.83.

Middlesex Water (NASDAQ:MSEX) last announced its quarterly earnings results on Wednesday, May 8th. The utilities provider reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.14. Middlesex Water had a return on equity of 8.64% and a net margin of 21.55%. The business had revenue of $40.52 million for the quarter, compared to analysts’ expectations of $42.00 million. On average, sell-side analysts anticipate that Middlesex Water will post 2.28 EPS for the current year.

Middlesex Water Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a dividend yield of 2.41%. The ex-dividend date is Tuesday, May 14th. Middlesex Water’s dividend payout ratio (DPR) is 64.36%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MSEX shares. StockNews.com raised shares of Middlesex Water to a “sell” rating in a research report on Thursday, May 9th. Robert W. Baird lifted their target price on Middlesex Water from $56.00 to $58.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th.

Insider Activity

In other news, Director James F. Jr. Cosgrove acquired 1,600 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were acquired at an average price of $51.70 per share, with a total value of $82,720.00. Following the acquisition, the director now directly owns 9,342 shares in the company, valued at $482,981.40. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Walter G. Reinhard sold 857 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $57.16, for a total value of $48,986.12. Following the completion of the sale, the director now owns 7,151 shares of the company’s stock, valued at $408,751.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James F. Jr. Cosgrove acquired 1,600 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was bought at an average price of $51.70 per share, with a total value of $82,720.00. Following the completion of the acquisition, the director now directly owns 9,342 shares of the company’s stock, valued at $482,981.40. The disclosure for this purchase can be found here. Corporate insiders own 1.86% of the company’s stock.

Middlesex Water Profile

Middlesex Water Company owns and operates regulated water utility and wastewater systems. It operates in Regulated and Non-Regulated segments. 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.