Middlesex Water (NASDAQ:MSEX) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its position in shares of Middlesex Water (NASDAQ:MSEX - Free Report) by 87.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,184 shares of the utilities provider's stock after selling 28,951 shares during the period. Allspring Global Investments Holdings LLC's holdings in Middlesex Water were worth $275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of MSEX. Charles Schwab Investment Management Inc. increased its position in shares of Middlesex Water by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 138,148 shares of the utilities provider's stock valued at $9,152,000 after purchasing an additional 1,439 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Middlesex Water by 106.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 51,137 shares of the utilities provider's stock valued at $3,356,000 after purchasing an additional 26,415 shares during the last quarter. Swiss National Bank increased its position in shares of Middlesex Water by 1.0% during the 3rd quarter. Swiss National Bank now owns 38,862 shares of the utilities provider's stock valued at $2,575,000 after purchasing an additional 400 shares during the last quarter. State of New Jersey Common Pension Fund D increased its position in shares of Middlesex Water by 11.5% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 32,839 shares of the utilities provider's stock valued at $2,176,000 after purchasing an additional 3,392 shares during the last quarter. Finally, Magellan Asset Management Ltd increased its position in shares of Middlesex Water by 20.8% during the 3rd quarter. Magellan Asset Management Ltd now owns 16,713 shares of the utilities provider's stock valued at $1,107,000 after purchasing an additional 2,883 shares during the last quarter. 79.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Middlesex Water

In other Middlesex Water news, Director James F. Jr. Cosgrove acquired 1,600 shares of the business's stock in a transaction on Wednesday, March 6th. The shares were bought at an average price of $51.70 per share, with a total value of $82,720.00. Following the transaction, the director now directly owns 9,342 shares of the company's stock, valued at approximately $482,981.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.86% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Middlesex Water Trading Up 0.8 %

Middlesex Water stock traded up $0.40 during mid-day trading on Friday, hitting $49.18. The company's stock had a trading volume of 98,575 shares, compared to its average volume of 111,352. The company has a 50 day moving average of $50.44 and a 200-day moving average of $58.69. The stock has a market cap of $875.90 million, a PE ratio of 27.94 and a beta of 0.74. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.98 and a current ratio of 1.05. Middlesex Water has a one year low of $45.42 and a one year high of $84.38.

Middlesex Water (NASDAQ:MSEX - Get Free Report) last announced its quarterly earnings data on Thursday, February 29th. The utilities provider reported $0.32 EPS for the quarter, missing the consensus estimate 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 net margin of 18.96% and a return on equity of 7.61%. On average, research analysts anticipate that Middlesex Water will post 2.28 EPS for the current year.

Middlesex Water Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th will be given a $0.325 dividend. This represents a $1.30 annualized dividend and a yield of 2.64%. The ex-dividend date is Tuesday, May 14th. Middlesex Water's dividend payout ratio (DPR) is presently 73.86%.

Middlesex Water Company Profile

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.