Zurcher Kantonalbank Zurich Cantonalbank Reduces Position in Middlesex Water Company $MSEX

Key Points

• Zurcher Kantonalbank trimmed its position in Middlesex Water by 88.7% in Q4, selling 32,615 shares and leaving the firm with 4,140 shares worth about $209,000 per its latest 13F filing.
• Director Robert N. Hoglund bought 2,000 shares at an average price of $54.31 on Feb. 27, signaling insider buying while insiders own about 1.92% of the stock.
• Middlesex reported Q results with EPS of $0.57 (in line) and revenue of $48.71M (below expectations), announced a quarterly dividend of $0.36 (2.8% yield, ex-dividend May 15), and carries a consensus analyst rating of Moderate Buy with an average price target of $59.00.

Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in shares of Middlesex Water Company (NASDAQ:MSEX - Free Report) by 88.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,140 shares of the utilities provider's stock after selling 32,615 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Middlesex Water were worth $209,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc grew its stake in shares of Middlesex Water by 483.5% during the third quarter. Versant Capital Management Inc now owns 566 shares of the utilities provider's stock valued at $31,000 after buying an additional 469 shares during the last quarter. Hantz Financial Services Inc. increased its stake in Middlesex Water by 137.8% in the third quarter. Hantz Financial Services Inc. now owns 635 shares of the utilities provider's stock worth $34,000 after purchasing an additional 368 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of Middlesex Water by 35.8% during the third quarter. Nisa Investment Advisors LLC now owns 645 shares of the utilities provider's stock worth $35,000 after purchasing an additional 170 shares during the last quarter. CWM LLC boosted its stake in shares of Middlesex Water by 124.2% during the third quarter. CWM LLC now owns 3,906 shares of the utilities provider's stock valued at $211,000 after purchasing an additional 2,164 shares during the period. Finally, Quantessence Capital LLC purchased a new stake in shares of Middlesex Water during the third quarter valued at $221,000. Institutional investors own 79.52% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on MSEX shares. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Middlesex Water in a research note on Tuesday, April 21st. Loop Capital set a $55.00 price target on shares of Middlesex Water in a research note on Wednesday, February 25th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $59.00.

Insider Buying and Selling at Middlesex Water

In other news, Director Robert N. Hoglund bought 2,000 shares of Middlesex Water stock in a transaction that occurred on Friday, February 27th. The stock was bought at an average price of $54.31 per share, for a total transaction of $108,620.00. Following the purchase, the director directly owned 2,000 shares of the company's stock, valued at approximately $108,620. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.92% of the stock is owned by company insiders.

Middlesex Water Stock Down 0.7%

NASDAQ:MSEX opened at $50.93 on Wednesday. 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 firm has a market cap of $948.32 million, a PE ratio of 21.22 and a beta of 0.78. The company has a 50-day moving average of $52.78 and a 200 day moving average of $52.98. Middlesex Water Company has a 1-year low of $44.17 and a 1-year high of $62.17.

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

Middlesex Water Announces Dividend

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

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.

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