First Manhattan Co. trimmed its stake in shares of Middlesex Water (NASDAQ:MSEX) by 2.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 314,351 shares of the utilities provider’s stock after selling 8,446 shares during the quarter. First Manhattan Co.’s holdings in Middlesex Water were worth $15,220,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Strs Ohio boosted its holdings in Middlesex Water by 9.4% during the second quarter. Strs Ohio now owns 13,900 shares of the utilities provider’s stock valued at $586,000 after purchasing an additional 1,200 shares in the last quarter. Guggenheim Capital LLC boosted its holdings in Middlesex Water by 2.8% during the first quarter. Guggenheim Capital LLC now owns 73,238 shares of the utilities provider’s stock valued at $2,688,000 after purchasing an additional 2,006 shares in the last quarter. Stephens Inc. AR boosted its holdings in Middlesex Water by 12.7% during the second quarter. Stephens Inc. AR now owns 20,795 shares of the utilities provider’s stock valued at $877,000 after purchasing an additional 2,347 shares in the last quarter. Sei Investments Co. boosted its holdings in Middlesex Water by 6,000.0% during the second quarter. Sei Investments Co. now owns 2,562 shares of the utilities provider’s stock valued at $108,000 after purchasing an additional 2,520 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Middlesex Water by 80.7% during the first quarter. JPMorgan Chase & Co. now owns 8,098 shares of the utilities provider’s stock valued at $298,000 after purchasing an additional 3,616 shares in the last quarter. 53.25% of the stock is currently owned by institutional investors.

NASDAQ:MSEX opened at $45.64 on Wednesday. Middlesex Water has a 1 year low of $33.96 and a 1 year high of $49.00. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.38 and a quick ratio of 0.32. The company has a market capitalization of $793.72 million, a PE ratio of 32.45 and a beta of 0.39.

Middlesex Water (NASDAQ:MSEX) last posted its earnings results on Thursday, August 2nd. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.14. Middlesex Water had a net margin of 19.56% and a return on equity of 11.34%. The company had revenue of $34.92 million during the quarter, compared to analysts’ expectations of $34.00 million. As a group, sell-side analysts anticipate that Middlesex Water will post 1.84 EPS for the current year.

In other news, VP A Bruce Oconnor sold 3,321 shares of Middlesex Water stock in a transaction that occurred on Friday, October 5th. The shares were sold at an average price of $45.82, for a total value of $152,168.22. Following the completion of the transaction, the vice president now owns 16,307 shares in the company, valued at $747,186.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Lorrie Beth Ginegaw sold 760 shares of Middlesex Water stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $44.45, for a total transaction of $33,782.00. Following the completion of the transaction, the vice president now owns 8,131 shares of the company’s stock, valued at approximately $361,422.95. The disclosure for this sale can be found here. Insiders own 3.48% of the company’s stock.

A number of research firms have weighed in on MSEX. Zacks Investment Research downgraded Middlesex Water from a “strong-buy” rating to a “hold” rating in a report on Tuesday. BidaskClub upgraded shares of Middlesex Water from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 16th. Finally, ValuEngine upgraded shares of Middlesex Water from a “hold” rating to a “buy” rating in a research note on Monday, July 2nd.

About Middlesex Water

Middlesex Water Company, together with its subsidiaries, owns and operates regulated water utility and wastewater systems. It operates in two segments, Regulated and Non-Regulated. The Regulated segment engages in collecting, treating, and distributing water on a retail and wholesale basis to residential, commercial, industrial, and fire protection customers in parts of New Jersey, Delaware, and Pennsylvania.

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Institutional Ownership by Quarter for Middlesex Water (NASDAQ:MSEX)

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