BlackRock Inc. Takes $176.03 Million Position in Middlesex Water Company $MSEX

BlackRock Inc. bought a new stake in shares of Middlesex Water Company (NASDAQ:MSEX - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 3,134,461 shares of the utilities provider's stock, valued at approximately $176,031,000. BlackRock Inc. owned approximately 16.64% of Middlesex Water at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Middlesex Water by 8.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,921 shares of the utilities provider's stock worth $892,000 after purchasing an additional 1,058 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Middlesex Water by 23.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 190,574 shares of the utilities provider's stock valued at $12,216,000 after buying an additional 36,540 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Middlesex Water by 4.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 59,222 shares of the utilities provider's stock worth $3,796,000 after buying an additional 2,349 shares during the last quarter. Creative Planning boosted its holdings in Middlesex Water by 47.1% in the 2nd quarter. Creative Planning now owns 4,795 shares of the utilities provider's stock worth $260,000 after buying an additional 1,535 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in Middlesex Water by 21.0% during the 2nd quarter. American Century Companies Inc. now owns 42,320 shares of the utilities provider's stock worth $2,293,000 after buying an additional 7,335 shares in the last quarter. Institutional investors and hedge funds own 79.52% of the company's stock.

Insider Buying and Selling at Middlesex Water

In other news, VP Lorrie Beth Ginegaw sold 615 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $57.61, for a total transaction of $35,430.15. Following the completion of the sale, the vice president owned 3,978 shares in the company, valued at $229,172.58. This trade represents a 13.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.92% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MSEX. New Street Research set a $64.00 target price on Middlesex Water in a report on Thursday, July 9th. Robert W. Baird set a $66.00 price target on Middlesex Water in a research note on Friday, July 31st. Weiss Ratings upgraded Middlesex Water from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 4th. Finally, Wall Street Zen raised Middlesex Water from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, Middlesex Water presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.67.

Middlesex Water Stock Performance

Shares of Middlesex Water stock opened at $57.86 on Friday. Middlesex Water Company has a one year low of $44.17 and a one year high of $62.17. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 22.34 and a beta of 0.75. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.41 and a current ratio of 0.50. The business's 50 day moving average price is $56.68 and its 200 day moving average price is $54.07.

Middlesex Water (NASDAQ:MSEX - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The utilities provider reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.13. Middlesex Water had a net margin of 23.26% and a return on equity of 9.59%. The firm had revenue of $56.36 million for the quarter, compared to analysts' expectations of $54.51 million.

Middlesex Water Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $1.44 annualized dividend and a dividend yield of 2.5%. Middlesex Water's dividend payout ratio is 55.60%.

About Middlesex Water

Middlesex Water Company is a regulated utility specializing in the provision of potable water and wastewater collection services to residential, commercial and industrial customers. The company operates through its wholly owned subsidiaries, supplying treated water and effectively managing sewage collection systems under state and local regulatory frameworks. Its core mission centers on delivering safe, reliable water while complying with stringent environmental and public health standards.

Founded in 1897 and headquartered in Iselin, New Jersey, Middlesex Water has grown from a local water works enterprise into a multi‐state utilities group.

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 Company (NASDAQ:MSEX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source