UBS Group AG Decreases Stock Holdings in Middlesex Water Company $MSEX

Key Points

• UBS Group AG reduced its stake in Middlesex Water Company by 27.6% in the fourth quarter, selling 21,671 shares and ending with 56,865 shares worth about $2.87 million.
• Middlesex Water reported solid quarterly results, with earnings per share of $0.57 matching analyst estimates, while revenue came in slightly below expectations at $48.71 million.
• The company announced a quarterly dividend of $0.36 per share, implying an annual yield of 2.8%, and analysts currently rate the stock a Moderate Buy with a $56.67 consensus target price.

UBS Group AG trimmed its stake in shares of Middlesex Water Company (NASDAQ:MSEX - Free Report) by 27.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 56,865 shares of the utilities provider's stock after selling 21,671 shares during the period. UBS Group AG owned approximately 0.31% of Middlesex Water worth $2,867,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MSEX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Middlesex Water by 8.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,921 shares of the utilities provider's stock valued at $892,000 after buying an additional 1,058 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Middlesex Water by 23.7% during the first 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 during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Middlesex Water by 4.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 59,222 shares of the utilities provider's stock valued at $3,796,000 after buying an additional 2,349 shares during the last quarter. Creative Planning increased its holdings in Middlesex Water by 47.1% during the second quarter. Creative Planning now owns 4,795 shares of the utilities provider's stock valued at $260,000 after buying an additional 1,535 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in Middlesex Water by 21.0% during the second quarter. American Century Companies Inc. now owns 42,320 shares of the utilities provider's stock valued at $2,293,000 after buying an additional 7,335 shares during the last quarter. 79.52% of the stock is owned by hedge funds and other institutional investors.

Middlesex Water Stock Performance

MSEX opened at $52.11 on Tuesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.39 and a quick ratio of 0.32. The company has a 50 day simple moving average of $52.12 and a two-hundred day simple moving average of $52.30. Middlesex Water Company has a 1-year low of $44.17 and a 1-year high of $62.17. The firm has a market cap of $970.29 million, a P/E ratio of 21.71 and a beta of 0.78.

Middlesex Water (NASDAQ:MSEX - Get Free Report) last issued its earnings results on Thursday, April 30th. The utilities provider reported $0.57 earnings per share for the quarter, hitting analysts' consensus estimates of $0.57. Middlesex Water had a net margin of 22.07% and a return on equity of 9.08%. The firm had revenue of $48.71 million during the quarter, compared to analyst estimates of $49.75 million.

Middlesex Water Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be given a dividend of $0.36 per share. The ex-dividend date is Friday, May 15th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.8%. Middlesex Water's dividend payout ratio is currently 60.00%.

Insider Buying and Selling at Middlesex Water

In related news, Director Robert N. Hoglund bought 2,000 shares of the company's stock in a transaction that occurred on Friday, February 27th. The stock was purchased at an average price of $54.31 per share, for a total transaction of $108,620.00. Following the completion of the transaction, the director owned 2,000 shares in the company, valued at $108,620. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.92% of the company's stock.

Wall Street Analysts Forecast Growth

MSEX has been the subject of a number of research reports. Weiss Ratings cut shares of Middlesex Water from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, May 18th. Wall Street Zen upgraded shares of Middlesex Water from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Finally, Loop Capital set a $55.00 price target on shares of Middlesex Water in a research report on Wednesday, February 25th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Middlesex Water presently has a consensus rating of "Moderate Buy" and a consensus target price of $56.67.

Middlesex Water Company Profile

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.

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