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

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

Middlesex Water Stock Performance

Shares of Middlesex Water stock opened at $58.22 on Friday. The company has a current ratio of 0.50, a quick ratio of 0.41 and a debt-to-equity ratio of 0.76. The company has a market cap of $1.10 billion, a PE ratio of 22.48 and a beta of 0.75. The company has a 50 day moving average of $55.04 and a 200-day moving average of $53.47. Middlesex Water Company has a 1-year low of $44.17 and a 1-year high of $62.17.

Middlesex Water (NASDAQ:MSEX) last announced its quarterly earnings data on Thursday, July 30th. The utilities provider reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.13. Middlesex Water had a net margin of 23.26% and a return on equity of 9.59%. The business had revenue of $56.36 million for the quarter, compared to analysts’ expectations of $54.51 million.

Middlesex Water Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders 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 dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, August 17th. Middlesex Water’s dividend payout ratio (DPR) is currently 55.60%.

Analyst Ratings Changes

MSEX has been the subject of several recent analyst reports. Robert W. Baird set a $66.00 price objective on Middlesex Water in a research report on Friday, July 31st. Weiss Ratings upgraded Middlesex Water from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday. New Street Research set a $64.00 target price on Middlesex Water in a research note on Thursday, July 9th. 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 MarketBeat, Middlesex Water currently has an average rating of “Moderate Buy” and an average target price of $61.67.

Hedge Funds Weigh In On Middlesex Water

A number of hedge funds have recently modified their holdings of the business. Nuance Investments LLC acquired a new stake in Middlesex Water in the second quarter valued at $4,820,000. BlackRock Inc. acquired a new position in Middlesex Water during the 2nd quarter worth about $176,031,000. Deutsche Bank AG acquired a new position in Middlesex Water during the 2nd quarter worth about $1,172,000. Perigon Wealth Management LLC bought a new stake in shares of Middlesex Water in the 2nd quarter valued at about $280,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Middlesex Water in the second quarter valued at about $27,000. Institutional investors and hedge funds 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.