Principal Financial Group Inc. Cuts Stock Holdings in Middlesex Water Company $MSEX

Principal Financial Group Inc. lowered its stake in Middlesex Water Company (NASDAQ:MSEX) by 29.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 105,387 shares of the utilities provider’s stock after selling 43,747 shares during the period. Principal Financial Group Inc.’s holdings in Middlesex Water were worth $5,485,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. TSP Capital Management Group LLC grew its holdings in Middlesex Water by 57.8% in the 4th quarter. TSP Capital Management Group LLC now owns 188,078 shares of the utilities provider’s stock worth $9,483,000 after acquiring an additional 68,854 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Middlesex Water by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 1,398,851 shares of the utilities provider’s stock worth $70,530,000 after purchasing an additional 25,363 shares during the period. Penn Capital Management Company LLC grew its stake in shares of Middlesex Water by 28.3% in the fourth quarter. Penn Capital Management Company LLC now owns 50,956 shares of the utilities provider’s stock worth $2,569,000 after purchasing an additional 11,251 shares during the last quarter. SG Americas Securities LLC increased its holdings in Middlesex Water by 178.8% during the 1st quarter. SG Americas Securities LLC now owns 28,664 shares of the utilities provider’s stock valued at $1,492,000 after purchasing an additional 18,382 shares during the period. Finally, Abacus Wealth Partners LLC bought a new position in Middlesex Water during the 4th quarter valued at approximately $609,000. 79.52% of the stock is currently owned by hedge funds and other institutional investors.

Middlesex Water Price Performance

MSEX opened at $57.86 on Wednesday. The stock has a fifty day simple moving average of $54.22 and a two-hundred day simple moving average of $53.24. The company has a current ratio of 0.39, a quick ratio of 0.32 and a debt-to-equity ratio of 0.74. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 24.11 and a beta of 0.78. Middlesex Water Company has a 12-month low of $44.17 and a 12-month high of $62.17.

Middlesex Water (NASDAQ:MSEX) last announced its quarterly earnings data on Thursday, April 30th. The utilities provider reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. Middlesex Water had a return on equity of 9.08% and a net margin of 22.07%.The business had revenue of $48.71 million during the quarter, compared to analyst estimates of $49.75 million.

Middlesex Water Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Monday, August 17th. Middlesex Water’s dividend payout ratio (DPR) is 60.00%.

Wall Street Analysts Forecast Growth

MSEX has been the topic of a number of recent analyst reports. New Street Research set a $64.00 price objective on Middlesex Water in a research report on Thursday, July 9th. Weiss Ratings cut shares of Middlesex Water from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, July 20th. Finally, Wall Street Zen upgraded 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 assigned a Hold rating to the company. According to data from MarketBeat.com, Middlesex Water has an average rating of “Moderate Buy” and a consensus target price of $60.67.

Middlesex Water Profile

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.