Insider Selling: Middlesex Water Company (MSEX) VP Sells $45,190.00 in Stock
Middlesex Water Company (NASDAQ:MSEX) VP Bernadette M. Sohler sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $45.19, for a total transaction of $45,190.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Shares of Middlesex Water Company (MSEX) opened at $45.69 on Monday. Middlesex Water Company has a one year low of $32.23 and a one year high of $46.74. The company has a quick ratio of 0.43, a current ratio of 0.51 and a debt-to-equity ratio of 0.60. The firm has a market cap of $746.85, a P/E ratio of 36.55 and a beta of 0.44.
The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Thursday, November 9th were paid a $0.2238 dividend. This is an increase from Middlesex Water’s previous quarterly dividend of $0.21. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date was Wednesday, November 8th. Middlesex Water’s dividend payout ratio (DPR) is presently 71.20%.
Large investors have recently bought and sold shares of the stock. BB&T Investment Services Inc. acquired a new stake in Middlesex Water during the 2nd quarter worth approximately $119,000. Legal & General Group Plc boosted its position in Middlesex Water by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 4,101 shares of the utilities provider’s stock worth $162,000 after buying an additional 161 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new stake in Middlesex Water during the 2nd quarter worth approximately $207,000. ELCO Management Co. LLC acquired a new stake in Middlesex Water during the 2nd quarter worth approximately $208,000. Finally, Russell Investments Group Ltd. boosted its position in Middlesex Water by 15.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 7,313 shares of the utilities provider’s stock worth $290,000 after buying an additional 965 shares during the period. Institutional investors and hedge funds own 50.98% of the company’s stock.
MSEX has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Middlesex Water from a “sell” rating to a “hold” rating in a research note on Wednesday, October 4th. Janney Montgomery Scott restated a “buy” rating and issued a $44.00 price target on shares of Middlesex Water in a research note on Wednesday, October 4th. Finally, BidaskClub downgraded shares of Middlesex Water from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th.
About Middlesex Water
Middlesex Water Company is a water utility company. The Company owns and operates regulated water utility and wastewater systems in New Jersey, Delaware and Pennsylvania. The Company also operates water and wastewater systems under contract on behalf of municipal and private clients in New Jersey and Delaware.
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