Middlesex Water (NASDAQ:MSEX) Shares Sold by First Manhattan CO. LLC.

First Manhattan CO. LLC. decreased its position in Middlesex Water (NASDAQ:MSEX - Free Report) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 178,175 shares of the utilities provider's stock after selling 8,448 shares during the period. First Manhattan CO. LLC. owned about 1.00% of Middlesex Water worth $9,445,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of MSEX. Sterling Capital Management LLC raised its position in shares of Middlesex Water by 771.9% during the 4th quarter. Sterling Capital Management LLC now owns 497 shares of the utilities provider's stock worth $26,000 after purchasing an additional 440 shares during the last quarter. Allworth Financial LP raised its holdings in shares of Middlesex Water by 1,136.4% during the fourth quarter. Allworth Financial LP now owns 544 shares of the utilities provider's stock valued at $27,000 after acquiring an additional 500 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Middlesex Water by 1,006.4% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 520 shares of the utilities provider's stock valued at $27,000 after acquiring an additional 473 shares in the last quarter. Crowley Wealth Management Inc. acquired a new stake in shares of Middlesex Water in the fourth quarter worth approximately $37,000. Finally, Pictet Asset Management Holding SA boosted its stake in shares of Middlesex Water by 31.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 5,009 shares of the utilities provider's stock worth $264,000 after acquiring an additional 1,192 shares during the last quarter. Institutional investors and hedge funds own 79.52% of the company's stock.

Middlesex Water Trading Up 3.2%

NASDAQ:MSEX traded up $1.78 on Thursday, reaching $56.61. The company's stock had a trading volume of 26,830 shares, compared to its average volume of 131,540. The stock has a 50 day moving average price of $61.61 and a 200 day moving average price of $58.47. Middlesex Water has a 12-month low of $48.18 and a 12-month high of $70.73. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 0.80. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 24.61, a price-to-earnings-growth ratio of 1.50 and a beta of 0.88.

Middlesex Water (NASDAQ:MSEX - Get Free Report) last announced its earnings results on Thursday, May 1st. The utilities provider reported $0.53 EPS for the quarter, missing analysts' consensus estimates of $0.55 by ($0.02). The firm had revenue of $44.30 million for the quarter, compared to analysts' expectations of $43.79 million. Middlesex Water had a net margin of 22.53% and a return on equity of 9.58%. On average, equities analysts anticipate that Middlesex Water will post 2.34 EPS for the current fiscal year.

Middlesex Water Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.34 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.36 dividend on an annualized basis and a yield of 2.40%. Middlesex Water's dividend payout ratio (DPR) is presently 56.43%.

Insiders Place Their Bets

In related news, Director Dennis W. Doll sold 4,067 shares of Middlesex Water stock in a transaction on Friday, March 21st. The stock was sold at an average price of $60.05, for a total value of $244,223.35. Following the completion of the transaction, the director now directly owns 52,112 shares in the company, valued at approximately $3,129,325.60. This trade represents a 7.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.32% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MSEX has been the topic of several recent research reports. Robert W. Baird upgraded Middlesex Water from a "neutral" rating to an "outperform" rating and set a $61.00 target price on the stock in a report on Monday, March 3rd. Baird R W upgraded Middlesex Water from a "hold" rating to a "strong-buy" rating in a report on Monday, March 3rd. Janney Montgomery Scott raised Middlesex Water from a "neutral" rating to a "buy" rating and set a $66.00 target price for the company in a research note on Monday. Finally, StockNews.com raised shares of Middlesex Water from a "sell" rating to a "hold" rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Middlesex Water has a consensus rating of "Moderate Buy" and an average price target of $61.00.

About Middlesex Water

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.