5,730 Shares in Middlesex Water (NASDAQ:MSEX) Purchased by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd bought a new stake in Middlesex Water (NASDAQ:MSEX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,730 shares of the utilities provider’s stock, valued at approximately $302,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp raised its holdings in shares of Middlesex Water by 7.0% in the 3rd quarter. State Street Corp now owns 813,455 shares of the utilities provider’s stock worth $53,070,000 after purchasing an additional 53,098 shares during the period. Geode Capital Management LLC increased its position in Middlesex Water by 0.8% in the third quarter. Geode Capital Management LLC now owns 434,559 shares of the utilities provider’s stock worth $28,356,000 after buying an additional 3,430 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Middlesex Water by 3.4% in the fourth quarter. Bank of New York Mellon Corp now owns 214,913 shares of the utilities provider’s stock valued at $11,311,000 after buying an additional 6,983 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Middlesex Water by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 172,472 shares of the utilities provider’s stock valued at $9,077,000 after buying an additional 5,191 shares during the last quarter. Finally, Amundi lifted its position in shares of Middlesex Water by 7.4% during the 4th quarter. Amundi now owns 128,526 shares of the utilities provider’s stock valued at $6,470,000 after buying an additional 8,848 shares during the last quarter. 79.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Middlesex Water

In other Middlesex Water news, Director Dennis W. Doll sold 4,067 shares of the company’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $60.05, for a total value of $244,223.35. Following the transaction, the director now directly owns 52,112 shares in the company, valued at $3,129,325.60. This represents a 7.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.86% of the stock is owned by corporate insiders.

Middlesex Water Trading Up 1.9 %

Shares of MSEX opened at $61.63 on Friday. Middlesex Water has a twelve month low of $45.42 and a twelve month high of $70.73. The stock has a market cap of $1.10 billion, a PE ratio of 26.80, a P/E/G ratio of 1.50 and a beta of 0.80. 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 business’s 50-day moving average price is $57.51 and its 200-day moving average price is $58.92.

Middlesex Water (NASDAQ:MSEX) last posted its earnings results on Friday, February 28th. The utilities provider reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.13. Middlesex Water had a net margin of 22.53% and a return on equity of 9.58%. The business had revenue of $47.11 million for the quarter, compared to analyst estimates of $45.00 million. During the same quarter in the prior year, the firm posted $0.32 EPS. On average, equities analysts forecast that Middlesex Water will post 2.34 EPS for the current fiscal year.

Middlesex Water Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were given a $0.34 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.21%. Middlesex Water’s dividend payout ratio (DPR) is presently 55.06%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on MSEX shares. Robert W. Baird upgraded Middlesex Water from a “neutral” rating to an “outperform” rating and set a $61.00 price objective on the stock in a research note on Monday, March 3rd. StockNews.com cut shares of Middlesex Water from a “hold” rating to a “sell” rating in a research note on Thursday. Baird R W raised shares of Middlesex Water from a “hold” rating to a “strong-buy” rating in a report on Monday, March 3rd. Finally, Janney Montgomery Scott reissued a “neutral” rating on shares of Middlesex Water in a report on Friday, April 4th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Middlesex Water presently has a consensus rating of “Hold” and a consensus price target of $58.50.

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.