46,085 Shares in Middlesex Water (NASDAQ:MSEX) Purchased by Foundry Partners LLC

Foundry Partners LLC acquired a new stake in shares of Middlesex Water (NASDAQ:MSEX - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 46,085 shares of the utilities provider's stock, valued at approximately $3,024,000. Foundry Partners LLC owned about 0.26% of Middlesex Water as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Handelsbanken Fonder AB increased its position in Middlesex Water by 13.9% during the fourth quarter. Handelsbanken Fonder AB now owns 4,215 shares of the utilities provider's stock valued at $277,000 after acquiring an additional 515 shares during the last quarter. Daiwa Securities Group Inc. increased its position in Middlesex Water by 25.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 3,631 shares of the utilities provider's stock worth $238,000 after buying an additional 728 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in Middlesex Water in the fourth quarter worth about $584,000. Cerity Partners LLC increased its position in Middlesex Water by 2.8% in the fourth quarter. Cerity Partners LLC now owns 16,055 shares of the utilities provider's stock worth $1,054,000 after buying an additional 433 shares in the last quarter. Finally, International Assets Investment Management LLC increased its position in Middlesex Water by 6,462.7% in the fourth quarter. International Assets Investment Management LLC now owns 3,347 shares of the utilities provider's stock worth $220,000 after buying an additional 3,296 shares in the last quarter. Hedge funds and other institutional investors own 79.52% of the company's stock.

Insider Transactions at Middlesex Water

In other Middlesex Water news, Director James F. Jr. Cosgrove acquired 1,600 shares of the company's stock in a transaction dated Wednesday, March 6th. The stock was purchased at an average price of $51.70 per share, with a total value of $82,720.00. Following the completion of the purchase, the director now directly owns 9,342 shares in the company, valued at approximately $482,981.40. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.86% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird reduced their price target on Middlesex Water from $69.00 to $59.00 and set an "outperform" rating for the company in a research report on Friday, March 1st.

Middlesex Water Price Performance

Shares of NASDAQ MSEX traded up $0.22 during mid-day trading on Tuesday, reaching $48.24. The company's stock had a trading volume of 91,881 shares, compared to its average volume of 171,909. The firm has a market capitalization of $859.15 million, a PE ratio of 27.41 and a beta of 0.74. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.05 and a quick ratio of 0.98. The stock has a fifty day moving average of $50.83 and a two-hundred day moving average of $59.08. Middlesex Water has a 52 week low of $45.42 and a 52 week high of $84.38.

Middlesex Water (NASDAQ:MSEX - Get Free Report) last released its quarterly earnings data on Thursday, February 29th. The utilities provider reported $0.32 earnings per share for the quarter, missing analysts' consensus estimates of $0.46 by ($0.14). The business had revenue of $38.60 million during the quarter, compared to the consensus estimate of $41.00 million. Middlesex Water had a return on equity of 7.61% and a net margin of 18.96%. As a group, sell-side analysts anticipate that Middlesex Water will post 2.28 EPS for the current fiscal year.

Middlesex Water Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Thursday, February 15th were paid a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date was Wednesday, February 14th. Middlesex Water's dividend payout ratio (DPR) is 73.86%.

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.