Middlesex Water (NASDAQ:MSEX) VP Lorrie Beth Ginegaw Sells 615 Shares

Key Points

• VP Lorrie Beth Ginegaw sold 615 Middlesex Water shares at an average price of $57.61, totaling $35,430.15, reducing her direct stake by 13.39% to 3,978 shares.
• MSEX shares rose 0.9% to $57.91, while the company reported quarterly EPS of $0.79 and revenue of $56.36 million, beating analyst estimates.
• Middlesex Water declared a quarterly dividend of $0.36 per share, equivalent to an annualized $1.44 payout and a 2.5% yield; analysts’ consensus rating remains “Moderate Buy” with a $61.67 average price target.

Middlesex Water Company (NASDAQ:MSEX - Get Free Report) VP Lorrie Beth Ginegaw sold 615 shares of Middlesex Water stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $57.61, for a total value of $35,430.15. Following the completion of the transaction, the vice president directly owned 3,978 shares of the company's stock, valued at approximately $229,172.58. This represents a 13.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Middlesex Water Stock Up 0.9%

MSEX stock traded up $0.55 during trading on Friday, hitting $57.91. 85,998 shares of the stock traded hands, compared to its average volume of 150,250. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 22.35 and a beta of 0.75. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.50 and a quick ratio of 0.41. Middlesex Water Company has a 1 year low of $44.17 and a 1 year high of $62.17. The firm's 50 day moving average is $54.93 and its two-hundred day moving average is $53.43.

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

Middlesex Water Announces Dividend

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

Analyst Ratings Changes

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

Institutional Trading of Middlesex Water

Several large investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Middlesex Water by 8.2% in 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 acquiring an additional 1,058 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Middlesex Water by 23.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 190,574 shares of the utilities provider's stock worth $12,216,000 after purchasing an additional 36,540 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of 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 purchasing an additional 2,349 shares during the period. Creative Planning boosted its holdings in shares of Middlesex Water by 47.1% in the second 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. boosted its holdings in shares of Middlesex Water by 21.0% in the second 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 during the last quarter. Institutional investors own 79.52% of the company's stock.

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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